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Ie, there are gaps in run time on the plant ( all sorts of reasons)., otherwise we would achieve 100 % utilisation, there will also be gaps where equipment is not available. Wether or not this gap time occurs at shift changes is not known, but could be a reasonable assumption. 91% utilisation is pretty good though.
GUG "Instantexpert - Your statement about a 20% reduction in Sn is incorrect”
The reduction in Sn recovery appears to indicate an 80% loss from circa 15T of concentrate in June and July to approximately 3T in August. Some of that reduction is due to 5T of the same ore being processed twice; once in July and then reprocessed in August to achieve the shipping grade. Please correct this if I am wrong but it does say that in the progress reports. It also explains the single 20T shipment made in July. That would have been 15T from June and 5T from July. The left over 4.8T from July was then reprocessed in August as part of that months 7.9T production, meaning around 3T came from August ROM.
". Working 24/7 on the higher grades and with less time between shifts"
I was not aware that there was any time between shifts, whether working five or seven day weeks. I inferred from progress reports that the plant, in a perfect week, runs continuously from start to finish; the 9% down time being for unscheduled maintenance and repairs, not to enable shift changes.
As part of a ‘funny bunch’ ( not my description) I should like to comment on the opex; I would agree that lower production levels are not good. However, moving forward, so far what we know is that; Until August there were 365 tons of concentrate were produced. The RNS provides a reaffirmed estimate for year end at Dec of 1000 tons, So that gives 4 months to produce 1000 - 365 = 635 tons Which is then ( if spread equally over 4 months) 159 tons per month.( not 100 tons per month) The higher opex per mtu occurs during the lower production, and the 248 is for the average across the whole year so includes that. Therefore the next 4 months will actually have a reduced opex per mtu. 159 tons per month will provide more than 1.5 million revenue. Prices for metals are rising ( tin up over 4% today )
You're a funny bunch here. I'm sure WRES will produce revenues of $1.5m/month, it would not be unreasonable to assume that. At current pricing it would require <100t shipped to do so. Troajan maintains "if its produced,it gets shippped" Yet the company RNS's say different. It ships when they have 20t shipments of each material. K3VMC - The 3 day comment was a slip. It meant to say 7 day and you are correct in your comment about an assumption of production, yet Troajan is banding it about like its already happened. Instantexpert - Your statement about a 20% reduction in Sn is incorrect but to the others who dismiss the smelt figure, I'm sorry but you are wrong. It is a "processing charge"
So, once you get to 100t a month of combined production. Working 24/7 on the higher grades and with less time between shifts, how do you then ramp up to the stated 257t/month (combined) target production from LP alone. Geng would call it a "gap"
Shard report states that at production of 1181t pa (100t a month) combined concentrate production the OPEX is $248 per mtu. The current revenue at the higher selling prices are $156 for W and $180 for Sn (I've not included the smelt charge to avoid further haggling). So based on these numbers and the achievement of production targets It is still making a considerable nett operating loss. It is spending money faster than it is earning it.
Makes sense to me Kev. Information provided so recently; August RNS update referred to the $1 million + revenue milestone having been achieved, the update for September referring to 7 day working starting and the figures for monthly increased production and the reaffirmation of achieving year end production targets certainly make Troajans assertion that we are at, or will soon be, at $1.5 million revenue. It is also worthy of note that the lower tin recovery/production is referred to and that this is being remediated by adjustments to processing. As instant expert says, it’s not implausible to arrive at the 1.5 figure even calculating conservatively. As for Scorpios assertion that I must be 90% down, that’s not in line with my calculations, and I do have access to my own figures of when I bought or sold and how much for. Also, I retain my assertion that a large increase in tin price is good for those invested in Wres. My comments are my opinion on Wres, I am invested in them, and so that explains why I am interested in the company. However, some seem to have an interest, certainly on making comment on the big anyway, for some other reason I cannot fathom.
“ $1.5m per month revenue is a number in your mind.”
Yes, of course. Troajan used existing figures and made a logical calculation using extra hours worked, plus less down time between shifts, to arrive at his estimate. I looks reasonable to me. What would be unreasonable is to assume the same output, after working more hours. That makes no sense.
“ It has never been achieved yet.”
No. You CANNOT assume that. You CAN state that wres has not reported those figures, but you CANNOT state that they have not achieved them.
“WRES have not intimated this and the mine has so far completed 2 weeks or so of 3 day working.”
Sorry, I don’t understand what you are trying to say.
“You can rejoice when or if it is announced. In teh meantime its just a fantasy”
It is a figure based on previous production, allowing for more hours of operation, plus stronger tin/tungsten prices. It should also factor in the higher ore grade, which has been stated, but not quantified.
Which part of getting paid at the point of shipment do you not understand ? July - 3 Tungsten, 1 Tin were shipped (Over $1m) August - 3 Tungsten and no tin (Hence not past the $1m mark) Sleeven has already explained this to you.
$1.5m per month revenue is a number in your mind. It has never been achieved yet. WRES have not intimated this and the mine has so far completed 2 weeks or so of 3 day working. You can rejoice when or if it is announced. In teh meantime its just a fantasy
yeah 68 tons was over $1.0 mill in revenues....but we dont know,how much over a month later,it was up 11% t0 75 tons....or $1.1 mill so now with the third shift that get's the old girl,to a conservative $1.5 mill....maybe even $1.7 mill,per month. and not taking into acc,the metal prices increase,although only a few percent and all that on a 50% ORR run rate,so there's room for improvement
and the end of the mine shutdowns and startups,could add an extra 4/8 hours aweek
lets hope the workforce get a crimbo bonus,they deserve it