Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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The tungsten is not going to go away and it will continue to be required, that's right. However, that doesn't help much as long as Wolf continues to be unable to extract and sell it for a profit. You continue to have an industry perspective whereas I continue to have the shareholder perspective. That's why Hemerdon can become a "success" from your perspective and at the same time be a debacle for shareholders (my perspective).
@richam - why do the debt holders want their money back ? They own between them 85% of the company. Maybe they have a 30 - 50 year view rather than a 30 - 50 month view or like some a 30 - 50 minute view. The Tungsten isn't going away anywhere, it continues to be required. If Wolf Minerals folded tomorrow and the major debt holders took control of the asset, does that mean it costs them any less to progress the project ?
Ophidian
Devon, what options are there? At some point the debt holders want their money back, don't they? They already agreed to defer payback (at least twice) in order to provide Wolf with more time to get production off the ground. Given recent production numbes, has this been successful? What are the Wolf guys going to say during the next round of discussions? "Keep watching"???
Thanks Richam, will keep an eye on these data sites in future as well as Panjiva. Have you any thoughts on the way the financial re-structure may go in late October?
Sorry, "your fitst 19 is a 33" (not a 31). 33.452kg to be exact.
Devon, take this as a starting point:
https://www.usaimportdata.com/usa-import-importer-global_tungsten-exporter-wolf_minerals.aspx
Your first 19 is indeed a 31 (OOLU4030274000) , your 69 is a 60 (OOLU4030277090) and where you have two consecutive 19s there is just one. Put these BoL numbers here: https://www.track-trace.com/bol and you'll see.
Usually 16 days pass between departure in Southampton and arrival in New York. You can find the exact dates in the BoL. I keep track of all these data points so I know the amount of concentrate that has been delivered to GTP during any quarter. When Wolf reports the amount of concentrate that has been produced, you simply deduct the GTP number and get the rest that has been shipped to WBH. Depending on timing of deliveries there is a neglibile difference between production and shipping.
Richam - I have simply added up each weekly shipment to GTP on Panjiva site (rounding down to the tonne) from July 1 to current Sept 17 and make it 19,(but 31 was reported) 69, 58, 58, 19, 19, 38, 38, 38, 38, 38, 38, making 470-482 tonnes unless I have made any mistakes. You may make allowances for the time span for transportation on shipments which make your total figures more accurate, mine just give a broad idea of whats going to GTP to tell if the trend is up or down and it would seem that it will end up fairly flat in this quarter.
On the 500+ tonnes, if your figures of 584 and 583 tonnes are to GTP alone, then I stand corrected.
Seems like the APT price seems to be stabilising around $280-285 per mtu
Wouldn't there be shipments to WBH on top of the GTP US shipments or have Wolf stopped sending to Austria completely ?
With "revenues" I mean revenues on an apple-to-apple basis, i.e. adjusted for the concentrate that was "given away" or "missing" during Q2.
Devon,
currently shipments to GTP during Q3 account for 368 tonnes including the last one arriving 17/09/2018 (38.875,5kg). At least this is what I gathered from public sources.
I'd love to learn how you arrived at 440t? And why would it be 500+ for the first time? Q2 was 584 tonnes and Q4 was 583 tonnes (GTP deliveries data as collected by US customs and published by Panjiva as well as others).
All shipments during the last 6 weeks were for 2 containers only. No matter how hard I "keep watching", shipments keep lagging. I expect a further 4 shipments before the end of the quarter. Should these continue to be 2 container shipments, we would end up at around 524t for the quarter.
Gents, life's not a picnic. As I understand it, this is an investor forum, not a cheerleader forum. I report numbers as they are being published. I certainly won't make up better numbers to please the feel-good gang. I expect revenues to decline vs. the preceding quarter due to roughly similar tonnage but lower prices and that doesn't bode well for the October deadline IMO.
It’s all I could afford :)
bought 2 shares for 4p?
blitz the guy is a nasty piece of work don't waste your energy on him.
Nice one Bulent you've really shown your true colours. oh dear! Using the C word, have a word with yourself.
Yes Devonmaid and Hope 69, everyone has had enough of the negative, abusive comments from the few which I am sure put off the many from posting. The only way is to ignore them.
I am also a long term local investor and want the mine to reach its potential, but the last 30 months have been nothing but pain, and there could be more to come until the debt situation is resolved in October, or production increases.
Richam if you are still about - On the production point I make shipments from July to 10th September approx 440 tonnes to GTP, and with possibly 3 shipments still to come before the end of this September quarter we may get to 500+ tonnes for the first time. Any thoughts on this.
The APT price has steadily dropped from the $350 per mtu at the start of July to around $285 per mtu now (20%) so will impact on Wolf income, but if production does increase by say 10 - 15% this would compensate for the price drop.
36 years of life left ? Who told you that Devon, or is that just you're optimism showing mate :-)
Commissioning of the process plant is now due to commence at the start of December (compared to previous guidance of end-September). The current commissioning plan sees first production of tungsten from the beginning of February 2019.
https://polaris.brighterir.com/public/ormonde_mining/news/rns/story/rgd85vr
Thank you Hope69, I have been invested here for many years and as a local to Devon I really wan this to succeed. Currently sitting on an £80K loss but still think that with 36 years of mine life ahead I may still make a profit one day. Madness? Maybe, but if you don't have hope for better times ahead then why stay?
This is more like the information that I wish to read. Plus obviously relevant factual data. As Hope69 has stated this was always going to have a long timeline to fruition, admittedly I thought we would see more positive figures by now, however patience will see profit. Thank you again Hope69 as your comment comes from the heart of the community which is our eyes on what is really happening.
I actually cant understand why all the bad chat are still going on from so called investors ???? Genuine investors, workers and local community actually want to see this mine succeed it is in all our interest. Please gentleman lets take a long hard look at actually what you put down on this Chat line . This is from a very annoyed local investor who wants it to bloody succeed. This mine was always going to be a long term viable project but like everything can have issues along the way !!!!!!!!!!!!!!!!!!!
Let us hope that finding 90Kg lumps of gold in a mine is catching. Gold fever is probably the only thing that will boost SP here in the next few months. Not as mad as you may think because one of the worlds first gold-rushes was not that far from Drakelands many years ago.
yes
Are you invested ?
Any views on what the effect of the decline in the APT price is going to have on the WLFE recovery plan? Will it drop further, or has it bottomed? I just don't know the answer to any of these questions!
Too much debt that's what happened , I lost a bit on these over the last few weeks and had enough , thankfully got out before the last few drops . Still smarting from ever buying them .