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??
I’ve just added another one to my filter list I wonder if anyone can guess who.
Unbelievably bad production for the quarter, this company lurches from one crisis to the next with Masterman once again deliberately misleading the market with statements he made in an interview, regarding reaching production forecast for the year, share price deserves to be below 5p IMO.
EBITA - gotta love auto correct
So September s production was less than August’s even with increased hours. Not what I had hoped for but when I think of WOLFE I’m glad that we are now ABITA positive!
He said when talking about the current period we will hit above design capacity. More billy bull****..we’ve now downgraded are yearly target.
"W Resources has adjusted its full year production guidance to between 650t and 750t of concentrate."
Thats a downward adjustment BTW .
WRES have also failed Getintheres "Good" test "In my view 245 tons would be good for Q3 but as you can see from my guesstimate I’m hoping for 265 tons"
Golfpro
I don’t think that he said we were at design capacity mate, that would have meant 225 tons a month, as I recall he said that he expects us to exceed design capacity in the future.
Hiccups do occur and it is very disappointing, however we are still moving forward albeit a little slower than any of us would like.
The months of August and September were both EBITDA positive for W's operating subsidiary Iberian Resources Spain ("IRS") and the Company firmly expects Q4 2021 to be EBITDA positive as well for IRS with the mine at La Parrilla increasing production as the quarter progresses.
There always a hiccup that scuppers the performance.
Flooding before. Now power supply and maintenance parts.
Eventually we will run out of problems and the plant will fly.
Didn’t MM say in last interview we are now at design capacity. Don’t think so Michael.
And ONCE again, that makes me the winner of the guessing competition. Getinthere ignored my guess cos he doesn't like me, but here is the post he ignored
goingunderground
A VERY optimistic 191 tonnes combined (W+Sn) which represents a very lowly 25% of the stated FID output of 775 tonnes combined.
Posted in: WRES
Posts: 1,258
Strong Sell
25 Aug 2021 15:01
RE: Q3 production guesses
Assuming 7 day production starts in September"
Where do I collect my prize ?
At least the mine is EBITDA positive now
Associated maintenance issues and supply chain bottlenecks for replacement parts have led to lower plant availability and as a result W Resources has adjusted its full year production guidance to between 650t and 750t of concentrate.
The Company expects Q4 2021 production to be greater than Q3 2021 production. However, production volumes will not reach the T2 run rate until Q1 2022.
BB2
192.4t . Combined
Michael Masterman, Chairman of W Resources, commented: "Q3 2021 was our best performing quarter to date and we expect to see this growth continue as we head towards the end of the year. Notwithstanding a number of challenges towards the end of the quarter, the result is testament to the management team at the La Parrilla mine which reacted quickly to minimise any disruption.
"In September, the Extremadura region of Spain, where the La Parrilla mine is located, experienced torrential rain fall for a period of time. Although the mine continued to work, production did slow due to the wet feed being fed into the plant. The team at La Parrilla is looking to introduce a silo to hold a minimum of one weeks' supply of dry stock which should negate the problems caused by similar flash flooding.
"Work at the mine has continued with new staff recruited and the introduction of a 24 / 7 operation seeing activities increase throughout the mine. In Q3 2021, work commenced on the second water dam which we expect will be completed in November 2021 and will serve to protect the mine from further water issues.
"Work continues apace and the La Parrilla team has a clear focus on increasing production and efficiencies as the reality of continuous production becomes the norm."