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It makes sense to develop a relationship with a multinational bank, if in 6 months time you are expecting production and therefore provable income levels to be sufficient so as to be able to refinance the short term high rate loan from BlackRock at a more realistic long term rate.

You never know maybe one day the derampers will pick up on the big picture !

A sensible way of dealing with the later expected date for receipt of the grant.

Boythorpe

How many tons do you think have been sold since the first of January mate ?

OMR

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.

That means that ORM have lost over 73% of their share price since the start of the year.

I feel sorry for anyone who’s invested there, as I can’t see a quick recovery in their SP.

From a WRES perspective the new owners of barruecopardo obviously believe that they can make a profit in the medium to long term, but short term I can’t see them being posing much competition to us, presuming that we hit our expected production rate at la parilla, and of course we have the added bonus of Regua coming on line later in the year !

That means that ORM have lost over 73% of their share price since the start of the year.

I feel sorry for anyone who’s invested there, as I can’t see a quick recovery in their SP.

From a WRES perspective the new owners of barruecopardo obviously believe that they can make a profit in the medium to long term, but short term I can’t see them being posing much competition to us, pres

Morning HBob

Thanks for the information, every dollar up is good news mate.

We are another week closer to :-

1. Receipt of the grant
2. Full production
3. Receiving our Q1 2020 production figures in April
4. Starting mining at Regua
5. Not having to read all of the negative posts made by the usual suspects.

I wouldn’t want to be out of this over the weekend or indeed at anytime soon !

Firstly, my position is that I bought shares in EUA and then sold them for about 10% profit, so I am currently not a shareholder, but I wish I was.

My considered opinion is that it is more likely than not that there either is, or will be, an offer for part or all of the company, but, that even if there isn’t, that in the long run shareholders will see an SP far higher than the current 7.2p.

If there is an offer it will need to be substantially higher, and if there is no offer then EUA will mine themselves and they have an agreement in place that provides the funding for this to happen.

If there is no offer and trading is restored then there is likely to be downward pressure on the SP, but in a year or twos time the SP will be much higher than today.

I sold because I thought that an offer might not be forthcoming and that the SP would drift whilst the company was setting up to mine themselves, but this suspension makes me think that I was wrong and an offer will happen shortly.

Time will tell, good luck to all of you that hold shares here, I wish I still did !

Well we’ve come up with pretty much the same cash figure mate and that’s all that matters really.

Chaser

I think, it’s 8-12% mate, so for 10 tons if we said an average of 10% that would be 1 ton which equals 100mtu and if we get $180 per mtu that’s $18,000 mate

Kalan

Although production figures are due to be published quarterly, we will on an ongoing basis be selling tungsten to our offtakers as it is produced, hence we will have revenue, cash flow and earnings.

The last RNS stated:-

“Mine Start
Mining operations will commence in February with the development drives in the first of two and potentially three adits (near horizontal tunnels) to allow W to access and start mining the thick high-grade ore zones and test two different mining methods: room and pillar; and sublevel stoping. Adit mining has been contracted to Empresa Portuguesa de Obras Subterrâneas, S.A. ("EPOS"), a highly experienced Portuguese mining operator.

Ore will be trucked on the newly constructed haul road to the existing crusher plant at the process plant site. A waste landfill will be created in a nearby quarry improving the restoration stage of the benches. A contract for fixed unit cost haulage and crushing was signed in June 2019 with Francisco Pereira Marinho e Irmãos, S.A. ("FPM").

Plant Configuration
The development of the Régua trial mine process plant is being delivered on a lean capital basis and will leverage the existing crusher plant, selected equipment from the La Parrilla tailings plant in Spain, including parts of the old concentrator plant, spirals purchased from Wolf Minerals Limited administrators and selected new equipment.

In the initial trial mine operation, high-grade Régua ore will be processed using crushing, mill and spiral equipment to produce an 8-12% WO3 concentrate which will then be trucked to the La Parrilla processing plant for upgrade to 60% WO3 concentrate and purification. This will maximise synergies between La Parrilla and Régua and keep the processing plant capital cost to an estimate of €1.5m. The incremental concentrate tonnage from Régua will boost final La Parrilla concentrate production.“

Rr1889

If there is an offer, the company will be open for trading again and the shareholders will then have the right to decide wether to hold their shares or sell them, clearly if there is an offer the SP will be much higher than yesterday’s closing price, and depending on wether people believe that any counter offer my come about the SP could potentially move higher than the offer price

I bought in at 3.26 and sold at a small profit at 3.74, obviously I wish I had held on now ! But, that’s life no one makes the right decisions all of the time.

I’m sure that all holders here are going to make very significant gains, good luck to you all.

OMR

Big fingers small keyboard on my phone it should have read buy order being filled !

No beer yet, but I’m sorely tempted !

Seems strange given the trades that have been shown for today, I wonder if there was a background but order bring gilled that may show in the morning?

OMR

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 !

OMR

If the Coronavirus is contained in the UK, by strict and where necessary imposed quarantine procedures, then I am sure you will be fine mate, however I would suggest that you pop down to the local off licence/ supermarket and get yourself a case of corona, who knows it might help you to stay safe, but in any event after a few of them I am sure you will feel better :-)

Yes mate it’s like that old saying, something along the lines of, you have to laugh or you’ll cry.

To be honest any little thing that shows that part of her is still somewhere inside, is great to see.