Another shipment indicated today at 53 tonnes. So with Richam's previous corrections to figures the Panjiva shipments from 1 July to date, 33, 60, 58, 58, 19, 38, 38, 38, 38, 38, 38, 53 making 509 tonnes, with possibly one more to add.
On the financial side Wolf will have to 'tidy up the balance sheet' and we will know the plans prior to 28th October as Wolf have indicated. The Annual Report was published on 29th September 2017, so that is due any time now for the 2017/18 financial year to end June 2018. Would expect that the annual report/financial review details would come out close together.
The APT price has stabilised at around $280-$285 per mtu, and there are some reports of a firmer market trend returning through October.
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?
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
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.
Appreciate you opinions on my question re production gentlemen, and good to have Peakview offering some thoughts again after such a long absence.
Mikea1boy thanks for your critical point about the make up of the ore body, surely the Wolf Geology team, after all the bore holes and trial pitting work that was undertaken on the site must have known the make up that you have advised, or do you think that is too simplistic? The data was issued to GRES who designed and installed a plant capable of producing a 5.5 working day nameplate of circa 3650 tonnes pa. (Subsequently increased to 7 day working), if they were competent professionals they must also have known the issues? Was it possible that both parties genuinely missed this fundemental data, or did they choose to proceed with the design of the plant and accept the risk of reduced recoveries?
As Peakview says the Chinese kit was sub-standard, but it is more realistic to say that in the light of the make up of the ore body you describe as possibly unique, that there is no plant currently in existance that would deal with the nature of the particles. Is it your opinion the current plant may never achieve the design production levels, and an individually designed plant for needs of the Drakelands orebody is required before 'Nameplate ' production can be reached?
Yes Richam just noticed that small shipment, do not think Wolf playing the 'extreme weather event' card will work this time, especially when your posted rainfall chart showed less rainfall in June than July LOL. Trust this is not a sign of tonnage of shipments to come, sheep and cattle may be dying in Oz but production may be dying at Drakelands!. The share action today has seen it hovering around 2p with sell price below 2p for the first time, not good - is the market telling us something?.
Thanks to Southwesterner, Blitz01 and Ophidian for posting recent technical information on the processing side, it improves the knowledge of what actually has to be done to get the product out of the rock, and what is being done at the mine currently.
My biggest question is why after 3 years of production, the output is still only around 50% of the capacity the plant was designed for, when the 'soft' material which caused initial problems has now been worked through and replaced by 'coarser' material the plant was supposed to work best on?
Would be grateful to hear you guys views on the matter....
Thanks for that update Richam, will be interesting to see if that average weekly tonnage improves during August and September.
Could it be that Ex Daytrader 13/Goldhanger have finally been excluded from this board? Thanks to everybody that helped make the removal possible. Only Bulent 74 to treat in the same fashion and this board will be freed from the abuse it has had to endure for a long time.
APT price continues to be under pressure from new supplies coming to the market, so the downward trend or prices holding at current levels expected to be in place for a period.
Another shipment of Tungsten concentrate made to GTP on 1.08.18 of 58 tonnes. If that is counted in the July total I make it approx. 215 tonnes since 1st July posted by Panjiva. Richam/adavies would you concur with those figures, or do you have any more accurate information or views on shipment tonnage to GTP we should use as a total for July?
Tyronegaa - Yes I agree with you, there is no point in trying to reason with ex Daytrader 13, Goldhanger or Bulent 74 (combined as Goldtrader 74) as they only post to suit their own agenda and get abusive when other posters question their version of matters. I will also not engage with any of their future posts.
For information Metal Bulletin European APT price now at $323-$330 per mtu down from $333-$341 last week This due to ending of Chinese environmental suspensions, which has allowed suppliers to return into production. Excess APT now into the market and short supply no longer an issue currently hence price fall approx $25 from recent highs of $350-$354 per mtu.
On new funding - Interesting to note there were no terms for conversion into equity for this latest tranche, only interest payment. However RCF are investors, not a bank, and they will want a return not just interest payments on all their past financial support. The balance sheet will have to be 'tidied up' and October may be the time when the Annual Report and next Activities Report is published. It may or may not be dilution at that point, depending on how production goes this quarter and whether Wolf can make enough to pay costs, and the interest charges.
No - ex Daytrader 13 and Goldhanger I say are the same person, a statement which has not yet been confirmed or denied. Bulent 74 is your sidekick.
Your problem is that you are very good at dishing out abuse to members on this and other boards, but when you get some of your own medicine back you are unable to handle it.
You can keep your alleged RL replies to yourself Goldtrader 74, just keep throwing your toys out of the pram and having hissy fit tantrums, it's all very amusing.
Good stuff MadDave and Hartlepoolbob - Goldtrader74 will soon be heading towards viral status!! I haven't laughed so much since the UK voted for Brexit or ex Daytrader 13 and Bulent 74 predicted Wolf would be at break even by July 2018 and almost split my colostomy bag. Sorry joke in bad taste to all those who endure a colostomy bag, my sincere apologies.
All you WRES posters take note there is a new kid on the block - Goldtrader 74, who is the alter ego of ex Daytrader 13, combined with Goldhanger and sidekick Bulent 74
Afternoon adavies,
Thanks very much for your accurate figures on shipments to GTP, demonstrating that what may have been shipped to WBH could only have been a very small percentage. Your and Wolf's 4 quarterly totals give a tight range of what to expect.
Agree with your view on why income is down this quarter compared to production and income for previous quarters. With Wolf obviously having a big push in June to try and maximise their yearly output to make it look better compared to 2016/17 quality control may have stumbled downwards. A pity the Activities Report could not be accurate if these are the real reasons.
That is not what you posted Bulent -
30th April 2018 'profitability will be in next quarterly report' That is end July 2018, and Wolf have not confirmed profitability this week in the Activities Report. Nameplate by end of year (If you meant December 2018) remains to be seen.
30th January 2018 - Q2 Report ' Break even and profitability by Q4 latest' Q2 is end January so Q4 is end July 2018, again Wolf have not confirmed profitability.
I have not advised people to take your financial advice, I urged them not to base their investment decisions on your posts.
You should stop twisting words in an attempt to get yourself out of a hole that is deeper than Drakelands Mine.
Goldhanger - Seems Bulent 74 your alter ego for verbal abuse of members has been brought back to life in your defence. Although you may not be involved in any form of daytrading you are still unable to confirm that you have or have not posted as Daytrader 13 in the past and are now posting under Goldhanger. Maybe you appear in many forms and currently Goldtrader 74 is the best name to sum you up.
As for correcting false statements, what you say is not confirmed in public by Wolf, and I do not intend to change the '24/7 Nameplate figures I have posted (Richam will speak for himself I am sure) until Wolf themselves alter the information, in the public domain, that they have already put in RNS and on their own website video on 24/7 potential production figures.
Assessment of Activities Report released today to follow soon.........
Goldhanger - This is not about believing you, or us increasing design performance, or what you want design performance to remain at. Until Wolf confirm otherwise, their expectation of 24/7 production potential is in the public domain. Both Richam and I have made a reasonable assessment of what '24/7 Nameplate' actually is in figures based on Wolf information, and that is what we will use (Unless Richam has any new issues to change the figure) so we can reasonably judge how Wolf are performing against our '24/7 Nameplate'. We post to this board for those who are interested because at present Wolf do not provide such information.
You have still not confirmed if you are Daytrader 13 under another name or not, but if you are a new member with no connection to Daytrader 13 I am sure you would be telling me in no uncertain terms that my claim was nonsense. So I will take it that you are ex Daytrader 13
Goldhanger - Once again you are unable to accept what Wolf have put into the public domain for 24/7 production, the figures are not 'made up'. The design performance figures you state are based on 5.5 day working and are no longer relevant. And who is the CEO you refer to? As far as I am aware Wolf have never had a CEO, if you actually mean Russell Clarke his title was Executive Managing Director. Get you facts right ex Daytrader 13.
The Activities Report is out and no doubt on closer inspection it will prove that your previous predictions were inaccurate - more on that to follow
Goldhanger - Do not need to communicate with anybody at Wolf to confirm the figures that Wolf have already put in the public domain. 'The figure you have repeatedly expressed on here'? Sounds a bit historical, like you have been posting it over a long period? Confirm if you are, or are not Daytrader 13 under another name please ?
Goldhanger - 'The only Design Performance figure recognised by Wolf is 3500 tpa WO3 in concentrate' and 'any other figure is not in the public domain and not recognised by Wolf'.
If you read the Wolf RNS of 24 November 2016 on Planning Decision for 24/7 working, in the highlights it states 'Potential to lift tungsten and tin by 20% and Russell Clarke commented - The additional approval of permanent 24 hour operations for 7 days a week at Drakelands processing plant will enable the Company to produce more Tungsten and Tin more efficiently with around 20% more production at reduced unit cost' It is not difficult to multiply 3500 x 20% to project what Wolf expect to produce for 24/7 working
As Richam posted, the Wolf website video states 'Potential to reach 4500 tonnes Tungsten pa, shipping 130 tonnes concentrate per week'
So Wolf have put in the public domain by their own RNS and Website their own expectation of 24/7 working. The figures are not 'made up' and a sensible projection based on what Wolf have said is the potential Design Performance.
It would be very interesting if you could confirm to us all just how you come to know that the 3500 tpa figure is the only one recognised by Wolf, and the higher figures are not recognised even though they have been put in the public domain by Wolf?
Yes Richam, forgot that pesky 65% in the Nameplate percentage calc, must be Alzheimers setting in!! We did agree 4250 tonnes per annum WO3 in concentrate and 550 tonnes tin per annum in concentrate for 7 day working as our figures for 'Nameplate'.
Metal Bulletin European Free Market APT Price today $338 - $346 per mtu down from $344 - $349 per mtu last week, price has dropped $10 per mtu in the last two weeks, due to Chinese producers re-commencing production.
Thanks for your updates Richam and agree with your summary, I posted back in May that it would need around a 550 tungsten tonnage with a 125 tin tonnage to potentially bring an income v cost break even point. We will see in a couple of weeks if the much increased shipments in June to GTP and larger shipments to WBH, if achieved, have done that.
Around 500 - 550 tonnes per quarter production would still only be at around 50% of our previously agreed nameplate of 4250 tonnes for 7 day working, so there is a long way still to go. The June production figures were encouraging, but have to be sustained in the coming months to demonstrate any real recovery in fortunes.