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This month should see us start to move upwards with the news that is due.

The first quarterly report due in October for the July, August and September (3rd quarter) should then give us a further leg up.

The subsequent announcement that we are at the full T2 production level of 20,000 mtu’s will be the final proof that is needed to ensure a permanent increase in the market valuation of WRES mate.

Each day sees us a day closer to all of the above, roll on Christmas, by which time we will all be happy.

Troajan

I do know your strategy mate I just wish that I was as good at it !

I see that one of the ones I have filtered just posted no idea who or what they posted but fairly sure it was carp, I do love my fishing !

Troajan

Sorry mate been busy but thanks for posting all those links.

It seems to me that with two mines each owned 100%, with the best pre proven kit in the world, and with tungsten currently remaining above the FID level, and predicted to rise pretty much at the time we are due to reach the full T2 production level of 20,000 mtu’s a month, that things are looking pretty good here - despite the trolls, the derampers, the moaners, the groaners and the jealous ex holders who bought high and sold low on more than one occasion!

Lots of news later this month that will assist us in our inevitable rise in market valuation and towards the long stated aim of becoming a mid tier miner.

What’s not to like ?

Well, I could tell you but I can’t be bothered to list all of the clowns ! They know who they are !

Troajan

That’s a good article, I read it a couple of days ago, and if they are right then the amount of profit that WRES will make will be multiples of what was assumed in the FID

Has been reversed this morning so wasn’t a sell at all !

We are very close to seeing the SP start to rise it can’t stay where it is when we are producing 20,000 mtu’s a month

Kev

and the next question is :-

is Tungder now posting under another name ?

Mark Lee

There is no doubt that constant production will be the catalyst for a large and permanent uplift in the market valuation of WRES and that will happen before the end of the year, the question is will we see a substantial uplift before then either on the gold news or on earlier news such as completion of the concentrator and or full commissioning of the concentrator or when we get the first quarterly results for the July, August and September quarter, who knows time will tell, but I think it is likely that we will start to see some upwards momentum later this month as some of the news starts to come out.

Mark Lee

There has been income from sales but we do not know how much, we do have a stockpile ready to feed into the old concentrator and shortly the new concentrator and we are expecting to run the old concentrator alongside the new one whilst the new one is being commissioned commencing in the next week or two, so, we will hit the 20 tons of production for July (we could do that and more from the old concentrator alone) also as Kev has said we had $6 million in the bank as at end December 18 and have had the money from the bank loan, and by the way the money from the warrants as well, so, given these facts it is unlikely to say the least that a placing or indeed any type of fund raising is necessary, that’s all I am saying.

Kev

As you say we are not paying out any cash on the loan at present it is accruing, our outgoings are wages for the 50 plus employees, whatever we are paying for the mining contractors, and for anything else required on site, which is not part of the main plant agreements.

I think that some people are simply nervous, given the fact that MM has previously said there was no need for further placings but has nonetheless raised money, which is understandable, but I think that at least where la parilla is concerned the money we have been, are, and will be, getting in from sales will be sufficient in the short term to stave off any further placings and in the medium and long term to ensure good and then very good profits.

I am very pragmatic I can afford to wait for this to come good and I am patient enough to do so, I believe that you and many other long term investors are the same, we know what we have here and what the true potential is and in time our investment will pay off very handsomely indeed.

L200

If the tungsten price drops below the $245 in the FID then obviously the profit forecast figures would be adversely affected, but, so far we have had limited production and the price has been above the FID at all times since production began last December.

Whilst it would clearly be advantageous to have a higher tungsten price going forward, actually when you think about it, given that our production price including the tin credit is $94 whereas all bar one of our competitors worldwide, have a higher production cost, and indeed some at the current price will be failing to make a profit a temporary low price is not the end of the world for WRES and in fact could see some of our competitors fail if it continued for any prolonged period of time.

The view if you do a bit of research is that the price has come down as a result of the stockpile in China being sold off, but they only have so much stockpile to sell and it will come to an end.

You may also want to consider that China is closing tungsten mines due to environmental issues so all things considered the likelihood is that the price will increase over the coming months and years which given we are due to be at full production from the end of the year would be perfect timing.

All of the above may be why most if not all of the long term holders are not too worried at the moment, indeed not worried at all.

Mullins

By next year we will have full production at T2 levels at La Parilla, Régua on line and producing enough to fund our debt, and trial mining at Sao Martinho.

Of course the other thing we will have is a much higher SP !

What’s not to like (oh I know, trolls, derampers, clowns, and moaners and groaners )

Dreamy

I would suggest that most if not all of the long term holders on here have from time to time become frustrated with the PR and the clear lack of progress where the SP is concerned!

However as mogwhy stated the jam tomorrow that was once years away is indeed now very close.

MM cannot directly make the SP react positively to all of the provable and massive steps forward that have been made at la parilla, but, at some point soon the market will react, I know that he is frustrated with the gold jorc being delayed and is regularly chasing to get it and publish it, but in the meantime he has been signing contracts to move the Régua project forward.

All I can say is “keep calm and carry on” you know as well as the rest of the long term holders that we will get there (eventually) !

Blimmin phone converted “keep” up the good work, to, let’s up the good work !

Hi troajan

Some very strange things seem to happen on this site, the presumption has been that you were banned from posting for a few days, but no one having read your posts could understand why, and you probably can’t comment for fear of being banned again !

Anyway let’s up the good work that you do publishing information and explaining things as they actually are to the less well informed, it’s good to have you back mate.

Getting the dark forces to stop posting carp on here would be a good start!

Wasp

We get 20 tons through the old concentrator in July, the new concentrator build is due to finish by mid July and then commissioning will begin, commissioning is all about feeding the stuff through and then stopping and adjusting as many times as are necessary to get the kit working as best as possible so production through the new concentrator will be sporadic to begin with but will ramp up over the coming months to reach full capacity of 200 tons a month by December, the good news is that MM said that it was likely that they would keep the old concentrator running alongside the new one so as to keep a level of production and therefore revenue going, at least in the first number of weeks.

I hope this helps you understand where we are heading and how mate.

I forgot to mention that MM was asked whether Almineral would be penalised for the delay that they caused, he said that the contract did include penalty clauses, but that as the contract was in commercial confidence he could not provide any details.

I vaguely remember a song that if not entitled said :-

Send in the clowns don’t bother their here.

Never a truer word spoken where WRES is concerned I feel!

I vaguely remember a song that if not entitled said :-

Send in the clowns don’t bother their here.

Never a truer word spoken where WRES is concerned I feel!