Member Info for GETINTHERE

Trumpton

People sell for many reasons, he doesn’t know anymore than we do, if he fid and was selling it would be insider trading.

Don’t fret our time will come.

We now know where all of the large sells came from and unless he continues to sell the SP is now likely to recover a little prior to our expected various items of good news

Nothing major just that Marcus Garvie has sold a few shares and dropped below the 3% level

Summary of upside drivers. Our valuation is conservative given that:
? We risk La Parrilla’s NPV at 0.8x
? We use a conservative $260/mtu European APT price which until recently was below June spot price at $280/mtu. The current July 2019 price has moderated to $230/mtu which we see a short-term dip relating to an inflow of stocks into the market. Furthermore, we assume flat-forward pricing and do not incorporate any escalation in the APT price. This is approximately $100/mtu below the APT price of $350/mtu 12 months ago.
? We include only nominal value for Régua at this stage, based on a resource multiple. Due to a few moving parts (opex, capex) and pending finalisation of the development plan, we do not currently use DCF methodology. However, WRES indicates first ore could be as soon as Q1 2020. Given the high grade of the deposit, we expect that incorporation of a Régua NPV would boost our valuation considerably.

MM is without doubt a great CEO 200% upside from here according to shard, and that’s without any real value being placed on Regua or the gold.

This is the rest of page 19:-

A fully-funded fledgling producer. La Parrilla is one of the most advanced new tungsten projects. The T2 mine development phase is fully funded (Blackrock $35m debt) and the mine is currently undergoing final commissioning. La Parrilla’s development timeline and the path to production has been relatively steady which reflects the fact that there have been no major “red flags” to hamper development, in our view. Permitting has kept pace with development timelines but primarily La Parrilla’s low opex (1st quartile) and low capital intensity means that WRES has been able to progress development and financing through the tungsten cycle. Furthermore, La Parrilla benefits from proximity to quality infrastructure and a sensible, staged development plan. Within the peer group, only La Parrilla and Ormonde Mining’s Barruecopardo are currently at the advanced construction / commissioning stage.
? A significant producer. The La Parrilla mine plan for the Fast Track Mine area (6-year LOM) indicates LOM-average production of 231,000 mtu WO3. Production for the T2 phase (2 years) is estimated c.182,800 mtu, increasing to c.255,000mtu for the remaining 4 years of the T3.5 phase. This will position WRES as a major producer in the tungsten space. The company’s overall tungsten production could increase further if Régua is put into production.
? WRES owns 100%. WRES has managed to retain a 100% interest in La Parrilla even after financing the T2 phase into production. This gives investors leverage and pure-play exposure to tungsten and exposure to the economics of the whole project. Ormonde for example retains only a 30% interest in Barruecopardo as a result of a $99.7m funding package received from Oaktree Capital Management in April 2015 where Oaktree gained a 70% interest.

Superior in many ways. La Parrilla compares well to other tungsten projects on virtually every metric. La Parrilla is a long-life, low cost asset with sector- leading capital intensity and a production scale that should position WRES as one of the larger tungsten producers globally ex-China.

Mogwhy

Thank you for posting the link to the shard document, much appreciated.

I believe shard have taken a very understated view of WRES, but, even then the report still clearly shows that they have a very good view of the company and that they expect a rerate before the end of the year.

I have no doubt that our money is safe in WRES, and have every expectation that we will make considerable profits.

Cookie / red

There is lots of news that is on the near term and medium term horizon.

It is now just a matter of time before the long awaited rerate begins.

Patience is the key, I’ve been patiently waiting for 7 years so another few weeks / months is not a problem.

No further trades since my small buy at 11.13Thu 16:38
I’m not sure if my buy frightened off the sellers or the buyers !

90% of the time when I’ve bought in the past the SP has gone down the next day, but on 10% there’s been an RNS the next day and a rise.

Who knows !

7 years

One month later WRES hit its 12 month high at 0.605

It will be interesting to see if having got a new 12 month low that within a month we get a new 12 month high

Time will tell

TT

I told you to sell quick last night, did you do it ?

But buys are now coming in so it would seem that the tree shake has ended and we have bottomed out.

Time will tell

Patience Attila patience, it will as you say come good and the current drop in SP doesn’t matter unless you sell

Dreamy

Although it’s a truism it’s not a very happy thought mate !

We are, it should have said “full production”

Kev

0.39 to buy on Lloyd’s and 0.38 to sell

Shows a trade at 0.405 before 08.00 but it doesn’t yet appear on the trades page, strange, I wonder if it’s for 10 million to balance the late shown 10 million trade shown last night

No RNS but we are getting closer each day to full production

Kev

I should have guessed !

3 clients !

Why does he always post unsubstantiated carp, his credibility is now zero with me and I would guess close to zero with most people on here.