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Thanks Troajan I'm hoping this could one day make us all rich.
freedom4all
its a long story,very long
but in a nutshell....getting into full production,was a nightmare and we still have a bit,to go.
10 years ago,we had 3 other tungsten competitors,wlfe/orm and prem.
they never got off the ground,for similar reasons to our problems....other than covid
This has great potential what are the metal prices the company has forecast? And is it a 10 year low based on sp or market cap because sp is irrelevant.
freedom4all
and your buying into a 10 year low m8.
Freedom
WRES are targeting full production early next year, if they achieve that then we will be able to refinance the debt and the company will (presuming of course that the metal prices remain at or above forecast) have revenue that is well above expenditure.
The above does not take into account Regua, and, IF, we were to get Regua up and running this year, (given that the amount of tungsten per ton is 3 times higher) we may we’ll be able to refinance earlier and therefore be profitable earlier, but, it is best in my view to presume that we will not have income from Regua until Q1 2022.
Time will tell mate.
Broadly speaking 2021 is the new 2020 wrt ramp up.
Putting all the plant issues behind us, ramp up looks like it is going well with Q4 (probably December) month heading towards monthly steady state production of circa 230 tonnes combined. I believe WRES will be at breakeven during Q4.
2022 should be the money spinner with payment of interest and debt and hopefully a refinancing to get rid of the Blackrock usury rates.
Thanks Get in there and Troajan, how pleased are you all with the current progress as it looks quite good, any estimates on when it could be profitable?
getinthere
ok cheers.
Troajan
In July they they produced 68 tons but they shipped 3 x 20 tons of tungsten and 1 x 20 tons of tin, consequently they exceeded $1 million revenue, but in August they only shipped 3 x 20 tons of tungsten mate, so that’s why I have calculated that they received circa $936,000
we can only guess on revenues
the other month,we know 68 tons was just over $1 million.
so add on,an extra 11%
then add on the extra shift.....so it looks like,from now on,we'll be seeing $1.6/7 mill per month
https://www.proactiveinvestors.co.uk/companies/news/960366/w-resources-expects-la-parilla-mine-to-reach-full-year-production-target-after-continued-output-rise-in-august-960366.html
https://www.proactiveinvestors.co.uk/companies/news/957126/w-resources-pushes-through-the-us1mln-per-month-revenue-mark-957126.html