Member Info for GETINTHERE

Frog,

Mid April for the January- March quarter production figures.

January will have been a low level for production as they were fine tuning the kit, and the same for part of February, but MM has said that we should hit 80% quickly, so I’m expecting maybe 30 tons for January, 50 tons for February and 160 tons for March, so a total of circa 240 tons - if we get that we will be well on the way to realising the potential that we have.

Cookie

I was reading only yesterday that in addition to WLFE and the ORM situation, that two other prospective tungsten miners have failed to get to the point of production within the last 5 years, due to the drop (now recovered) in the price of APT coupled with being unable to borrow sufficient funds.

We have the funds and we are producing, we just need the ramp up to be successful and MM has told us he expects 80% of our production rate to be achieved quickly, and at 80% we will be profitable and the SP will reflect that mate.

We just have to be patient.

Cookie

The fact is, that any mining company, that is producing at a rate whereby the costs of production, and of meeting their debt, are exceeded by the income they are receiving from sales will see an SP that is somewhere between 6 -8 multiples of the earnings, the failures of other companies has led to investors being very wary of all start ups, so, until we prove to the market that our production and therefore profits are high enough we will continue to sit in the doldrums, but, once we prove that our SP will multiply.

MIB

It’s all a game, they move the price up and down to points where trades are generated, but all of us long term holders know full well that when we hit our production targets the MMs will without doubt move the SP up significantly and as all of those waiting on the sidelines for proof before investing, start to plough money in, we will see an SP that is multiples of today’s price.

Realtime

I agree it’s been a very long time to wait, I’ve been here since 2012 !

Your average must be just over 0.53p, a level which will be easily surpassed, providing we hit the predicted levels of production and provided that APT stays at the current level or better still increases.

Every long term holder is likely to be sitting on a substantial paper loss at the moment, but, once this starts to move, and it will, once production levels are reached, no one will be able to buy the amount of shares that the long term holders here own at anywhere near the prices we have invested at.

Good luck to you and good luck to all of us king term holders.

Realtime I’ve been out most of the day so only just read your response.

£60k down eh you must have a very high average as your posting history suggests that you were selling half of your 22 million, unless you bought more after selling ?

Anyway my paper loss is higher than that but that’s all it is, a paper loss that doesn’t become a real loss unless I sell, which I won’t at anywhere near these prices.

Realtime

Mining companies report production quarterly, that’s what we are doing, he reported in January and will do so again in April, July, October and then again next January.

We are in the ramp up phase, this means that they are working hard to ensure that every piece of the kit is set up to optimum level, we know from what he has said that changes to the set up have taken place, and that he now expects us to quickly reach 80% of our full production level.

No company can reveal anything that is market sensitive outside of an RNS, production figures for the January- March quarter will be announced as stated in mid April.

Chill out and wait mate, the April announcement will be important, but, the July figures will be the ones that should lead to a serious rerate.

Safety

Don’t you go behaving like a pigeon when you do it though, we don’t want our workers upset, productivity is everything.

Kev

He who laughs last, laughs longest.

And, I suspect that the investors here will be laughing all the way to the bank.

As for the derampers and trolls, they will be long gone.

Jaf

Yes the derampers will be negative as usual, but guess what, none of the investors give a flying fig.

It’s just a matter of time.

Oh, and given MM has stated regular shipments, maybe, just maybe, boythorpe did in fact know what he was talking about and was in fact telling us the truth, I certainly would believe what he posts more than anything that the usual suspects post !

I wonder how much our UK grown crops will cost if farmers have to pay £25k to get them picked, or, alternatively if they can’t get them picked and there is a shortfall ?

Boris will of course be able to afford whatever it costs, but how about the unemployed, how about the poor who are in work, how about those with medical conditions with low incomes, and how about those on fixed incomes like pensioners, will they all be able to afford it.

Oh look more buys than sells and a tick up in the SP, it would seem that the market doesn’t see today’s RNS quite as negatively as some of the posters on here.

When we have production figures in April and then July we will all know the truth about the profitability of WRES, until then it’s all blah, blah, blah.

Hereandnow

One of the regular posters put up a comment from 2013 that came out of the daily mail, he was essentially asking the same question as you mate, and I responded with the following:-

The market capitalisation at the time of that article was about £18 million, and there were less than one third of the amount of shares in issue, the market capitalisation today is about £21 million, we have circa 6.5 million shares in issue, we have debts of circa $50 million, we’ve had a delay caused by the kit suppliers, WLFE has gone under, ORM has had to sell out, the price of tungsten is about $100 less per MTU, and we are awaiting proof that we can hit the 200 tons per month production target.

Whilst an increase in the amount of shares and a large amount of debt were to be expected, No one could have predicted that at one point tungsten would hit half of the price that it was, that the delay would happen or any of the other things that were out of our control, but which have had a negative effect upon the way that WRES is currently seen and therefore valued, BUT, providing we hit our production targets and providing that the price of tungsten stays the same or increases, all of us long term holders will see a massive rerate mate, it’s just a matter of time.

Nmh19

I thought I had quite a few of these, but you must be close in having to notify the market now !

Jaf

You also missed the fact that you said you would not post anymore - but you do, don’t you ?

Jaf

I wasn’t referring to you, you hadn’t posted this morning had you ?

Nmh19

Morning mate, we all know that as soon as we have proof of production and income we will be looking to refinance at a more realistic rate, so to me building a relationship with Santander is a logical approach.

Of course it was to be expected that the usual suspects would find negativity in the RNS, but, “quite frankly scarlet”

Why is it that people who aren’t invested here feel the need to post negatively time and time again ?

Could it be that they just like the sound of their own voices, could it be that they just have to feel that they are right and that everyone invested here is wrong ?

Why won’t they explain when asked the simple question, why are you posting on this board ?

The only answer we’ve ever got is along the lines of, because I / we can, which of course is just avoiding the question.

They are either very sad individuals, and or they have an agenda.

Anyway, whatever, 24/6 production continues, the ramp up continues, Regua is coming on line later this year, and we will eventually be free from the derampers and trolls.

“Nothing happens quickly in Spain mate, and local government are slower than most, they will need to have every scrap of paper in triplicate, it will need to be looked at by the person who looks at it before the person who checks it, then it will have to be checked by the person who checks it before the person who decides when it will be passed to the committee for inclusion as a discussion in a meeting to decide if and when it should be passed to the higher committee that will decide when and if it should be passed to someone who will decide if it should then be passed to a decision maker, and at every step along the way everyone has the right to pass it back to the previous stage and ask them to review it again !

Eventually the decision will be reached to pay the grant, but then it will need to go through a similar elongated process to decide when it will be paid.

So, I’m not holding my breath, if it arrives before the end of the quarter local government will have done well by their standards !”

Michael Masterman, Chairman of W Resources commented: "We are pleased to have closed this new facility with Santander which will provide additional flexibility and liquidity at low-cost to the Group. Santander is a leading European bank and we look forward to strengthening our relationship with them. We greatly thank Caja Rural for their interim support of the development of La Parrilla."