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jaf1948
How are you? We’ve missed you on this board.
“ Just two posts (out of many):
10 Jul 2018: K3VMC: $40m ebitda is what i am looking for in 2019.
11 Dec 2019: K3VMC: $20m ebitda coming, as I have posted for many months now.
I really don't think you are in a position to lecture other people.”
I was completely wrong, as it turned out, and that was BEFORE the virus struck!
In a meagre defence, I am heavily invested, and not only do I know where La Parrilla is, but I have been there several times.
Maybe you have never made mistakes. I have done and may well do in future, but I always buy what I post about. I don’t talk other people’s stocks down. Maybe you appreciate that distinction, maybe not.
In my defence, I don’t troll a share I have never invested in, don’t know where it is. Yes, mistakes were made, there were problems and disruption by pestilence and disease, but I still back the mine and hold.
All the best.
Just come across another humdinger of wisdom from K3VMC. Look at the Share price it was over 50p in new money
"K3VMC Premium Member
Posted in: WRES
Price: 0.505
RE: Team wres27 Jan 2019 11:46
Inky
“1. .When will Wres become self sufficient in capital income , turning a profit and self funding current projects.”
Wres will be ebitda and cash flow positive from the end of Q1.
“2. At what point will further dilution of the shares for current projects be no longer necessary”
The last placing was to get Miton on the register and fund “something else”. LP is paid for and Régua will be paid out of cash flow and the small change left over from LP development.
“3. Does he envisage consolidation of the shares to make the company fit the profile for investment by institutions pension companies etc who won't invest in fractional penny shares but will invest heavily and drive the SP”
He will consolidate shares when income is proven. There are enough nervous nellies as it is, without giving them something else to twist knickers over.
With posts like that Jaf1948, you are welcome anytime.
Ok, KV3MC. Here is one of your former posts "20,000mtu x (($300/mtu x 75%) - $95) = $2.6m. 12 months x $31.2m ebitda."
There are at least 2 La Parilla in Spain. So I picked the wrong one, fair enough.
Care to explain the rationale behind your previous post. Of course not, It's complete RUBBISH.
Why on Earth would anyone take you seriously when you claimed to be heavily invested here yet claim an EBITDA of $31m when if you are lucky Shard are predicting $0.3m
I have stopped posting on here but I couldn't let K3VMC's post stand without comment.
'As someone who was unable to locate La Parrilla, I can’t see anyone taking you seriously.
No offence meant.'
Just two posts (out of many):
10 Jul 2018: K3VMC: $40m ebitda is what i am looking for in 2019.
11 Dec 2019: K3VMC: $20m ebitda coming, as I have posted for many months now.
I really don't think you are in a position to lecture other people.
GUG
“ NOT LIKELY”
As someone who was unable to locate La Parrilla, I can’t see anyone taking you seriously.
No offence meant.
Safetyman - "What I personally want too hear about is next steps in realistic achievable terms for production with figures that are clearly achievable rather than hopeful expectation."
Its in the Shard report (I have it now)
"For the first time, WRES has issued production guidance. Thiscovers the remainder of 2021 and focuses on total concentrate production which we take to mean tungsten concentrate plus tin concentrate. WRES believes that the plant improvements along with higher grades and recoveries will see production increase. The company expects total concentrate production of between 880t and 1,000t for 2021"
Still an expectation, so this will likely be higher than what will actually be achieved. Take a middle average of 940t deduct the 90t produced in Q1. That leaves 850t with 3 quarters to go, an average of 283t per quarter of combined concentrate .
production. NOT LIKELY
Think it’s the last two words you spoke...”Who knows?”
Dreamingof. No doubt on the incongruity of the statement on the 3rd March and subsequent published figures. The reasons for disparity I do not know. With regard to what was said , I do not think there was a deliberate attempt to mislead- there would be no advantage on it that I could fathom. However, I do think ( I do not know) that it was spoken on the basis of expectation.
Certainly the question will no doubt get asked at the Q&A session. What I personally want too hear about is next steps in realistic achievable terms for production with figures that are clearly achievable rather than hopeful expectation.
I would also be very interested in Licencing on trial mines in Portugal, possible JV for Sao Martinho, and I would love to hear of refinancing at less punitive rates. Also grant news.
I was also reading that Portugal was providing grants on mining projects, just an outside thought- are we lined up for any of that?
My guess is that the flooded area is going to take longer than initially expected to be drained, I think someone on here suggested we could just pump the water into the nearby canal, but my guess is that may not be possible or might require authority to do so, due to wildlife considerations and or water authority issues. Who knows !
If that was the case, why wasn’t this apparent 3rd March when he made his infamous prediction for Q3. Surely by then it would be evident. It’s ok Safety, to be fair to you Troajan, GIT, no one knows, it just doesn’t sit right. I am sure a brave soul or two will raise the question, just hope they wouldn’t be fobbed off and will hold their feet to the fire as I really had hoped that surprises would have stopped by now (not saying all surprises are their fault, just that we get past this stage of Mr and Mrs **** up visiting us so frequently)
Seawolf, the problem was not because it gets wet in certain months. What happened was there was flooding, that wetted things including access. Normal wetness is not a problem. Anywhere in the world that gets hit with heavy rainfall over a short time has problems. So for me it’s about resolving the wetness from the flooding, not usual weather wetness.
Sign up not sigh up...damned eye of mine!
Seawolf, when the video Q&A comes around, sigh up and ask him yourself, then you'll know, and if you don't believe him, call him a liar to his face.
Troajan, October? Just when it states to get wet again, marvellous, you couldn’t make this up! Why can’t the run 24/7 in the summer and reduce it during the winter as weather permits? None of this makes any sense until MM provides a thorough explanation, which he never does.
Dreamy
I think Safety’s comments are correct.
We all know that we are massively behind where we expected to be, but I’m a pragmatist, we are where we are, and we can and I am sure we will, in time, succeed.
Dreaming of, I understood that we had to process Lower grade ore then due to the rain and flooding and it’s effects on access to higher grade ore. I think it was a case of using lower grade stuff that had been set aside previously - without going through everything that was my view. As for October picking things up, if wetness has been an impediment then the heat and dryness through July August and September will pick things up considerably.
Personally if we can start towards getting the 100 tons a month I will take that as a positive sign post. More than that and I might even get cheery.
GIT, any thoughts as to why we suddenly discover in late March that Ore concentrates are an issue, when they weren’t in Jan when 24/7 was announced or even 3rd March, when MM expected records to be smashed (bearing in mind how little came out in the Quarter in the end and assuming they were still producing from 3rd March to 31st and he must have known production numbers up to 3rd March, when he made his announcement.
Troajan, genuine question, why October and not say end of December, is there a source for this or just a gut feeling/wishful thinking?
Troajan
I said last year that the very earliest we could hope to get to producing enough for break even would be Q2 and far more likely Q3 or Q4 mate, of course at the time I had no idea that the rainfall in February would be of biblical proportions !
So, given the circumstances, I agree that the very earliest we can reasonably expect to see production at break even levels is now Q3 and it could be as late as Q4 or even Q1 next year.
I would be very happy if we were able to get there sooner, but the only way that seems possible is if Regua comes online very soon.
looks like october m8,when the mine,goes 7 days a week.
is the pivot point.