Member Info for GETINTHERE

Good morning Tonlin, I hope you are fit and well mate ?

I believe that, FINALLY ! We are on our way, it’s taken an inordinate amount of time and we’ve suffered many setbacks over particularly the last three years, but, I like you, am optimistic ;-)

Providing the Q2 results due in July show clearly that production has continued to increase, and providing that we are able to get back mining from the higher grade areas early in Q3, then the SP will start to improve, until then unless there’s other news I suspect the SP will hover around these levels.

MIB

Wow I’m sure I detected a smidgin if optimism there!

35p is easily achievable, IF, WRES hit their production targets, cost targets and selling price targets - time will tell mate

Have a good day ;-)

Dreamy

Maybe they will when the annual results come out, last year they were published on 1st June so any day now

Jez

That was published last year and the latest update was in January this year - unless I missed something ?

Correction 1 share at 12p for every 2 shares he buys in the 8p placing

Safety

MM bought £135,000 worth on the open market earlier in the year, he has pledged to buy £250,000 worth at the 8p placing price once he is out of the closed period, and then of course he will be entitled to buy 1 share at 12p for every share he buys in the 8p placing, so that will be a further £187,500.

In total therefore he will have bought £135,000, £250,000 and £187,500 = £572,500 by the time he has taken up his 12p options.

These are not the actions of a CEO who doesn’t believe that the company will succeed ;-) despite the no doubt negative and repetitive comments that I’m sure continue to be posted in all of the green boxes I’m seeing !

MIB

I suspect that you might have dropped them in a coffin and buried or cremated them mate.

I would join your club but the notice above the entrance stating “abandon all hope ye who enter here” has put me off !

Seriously we all know that Atlas are going to convert and that the SP will drop further as a result, but the issue is not what happens in the near term it’s simply about production, costs, and sales going forward, if we produce enough at a low enough cost and sell it at a high enough price we will be fine - if not you will lose all your money and so will I and many others.

My glass was half full, it’s now, following the necessary evil of raising cash from the placing, one third full.

I wish you well and boy do I hope that you make s fortune from your WRES shares ;-)

OMR

Could be a joint venture, could be a sale, who knows mate ;-)

Dreamy,

I agree with the sentiments portrayed in your last post.

MM put in £135,000, he has committed once out of the closed period to putting in a further £250,000 and if he subsequently takes up his 12p options he will have to put in a further circa £187,500, all of this on top of the millions that he has already invested, one thing is for sure, he certainly puts his money where his mouth is, - let’s just hope that he is right to do so and that we all at long, long last reap some Benefits !

It’s really concerning, thank goodness for SNG :-

https://www.bbc.co.uk/news/world-asia-india-57027829

Dreamy

You’ve implied that extending the dare on the 60p warrants was illegal, it was not.

I don’t believe that those 60p warrants will be extended again, and I vaguely remember that a further extension was ruled out at the time.

If, we are lucky enough to get to 60p before the end of December, I will be very surprised, but very happy, and if warrant holders do convert because the SP is above 60p I won’t begrudge them doing so.

Dreamy

Fair cop on the Atlas conversion, but I don’t think it’s likely that the 60p warrants which expire in December will be taken up as I cannot see the SP rising to above 60p by the end of the year, and in any case most of those who have those warrants will now have the 12P warrants, and, if the 60p warrant holders see that the SP is heading upwards it would make far more sense to buy shares on the open market at a lower price, firstly because they would be cheaper and secondly because if the 60p warrants aren’t converted then less shares in issue means a higher SP, and thirdly because in the event that the SP did rocket past the 60p level they could still at that time convert.

I hope you have a great weekend ;-)

And,

As Safety has been remiss - I wouldn’t want to be out of these over the weekend - well, not at these prices anyway ;-)

Bdog

If I didn’t believe that WRES will succeed then I would sell up and swallow my loss, as substantial as it is, but I actually believe that the company is going to improve substantially this year and next, albeit that we may drop a little more in the short term, when Atlas convert their final £250,000

Bdog

I think you are right about what we will be producing in two years time, and the SP will be nothing like it is today, the problem for people like Dreamy and me and indeed several others I could name, is that we have been invested with large sums of money for many, many years, already, and, at much higher prices, and we have unfortunately experienced many failures to achieve what has previously been expected, thanks to a mixture of issues, some of which were self inflicted by the company and others like the massive rainfall and consequent flooding were out of the companies control.

I genuinely believe that we are now finally heading in the right direction, but it’s going to take a while before I personally get back to break even, let alone profit, but I do believe that in a year the SP may be at or at least close too my average purchase price and that in two years I could be sitting on a good profit - here’s hoping ;-)

Dreamy

We are going to end up with 120 million shares in issue once MM has taken his placement shares, the 12p warrants have been exercised and blackrock have been issued their 5%, so, we will have gone from circa 80 million to circa 120 million, whereas the Shard fully diluted figures were based on 90.5 million.

There’s no dressing what’s happened up to make it look good, but as you know the company had no choice but to raise the cash to get the flooding sorted so that we can get back to mining the high quality ore, it’s cost shareholders like you and me, who aren’t involved in the placing, dearly, but if it hadn’t been done the company would have gone under and we would have lost all of our investment.

The increase in share capital from the shard fully diluted expectation of 90.5 million to the 120 million that it is now going to be, is 32.6% and therefore the 23p per share Shard estimated figure would be diluted to 17.35p.

It’s not good but I would sooner have at least the chance of getting to 17.35p (or more if things go better than Shard expect) than have nothing, which without the extra cash is what would’ve happened.

Bdog

Shard are also being very cautious with production as they are only expecting 110 tons of tungsten concentrate and 40 tons of tin concentrate for Q2, and we know that we have shipped at least 60 tons of tungsten and 19 tons of tin upto the first week of May and we were told that other shipments were already planned, so based on the above I believe that there production estimate for Q2 is likely to be exceeded by circa 50%

The Shard report was expecting that WRES might get to 50% tungsten recovery by the end of Q2, the 60% achieved in February was on the higher grade ore, which due to the flooding we have been unable to access again so far, however having just read the placing RNS again I found this :-

“Tungsten recovery rates continue to improve and were circa 50% during the month of April 2021.”

Given that we are processing low - medium grade ore, achieving 50% recovery is great news and bodes well for when we get back to the high grade ore.

My glass is one third full ;-)

Troajan

The average is 998 parts per million, so it’s interesting to note that the 40m at 0.496% is 4960 parts per million.

Troajan

Also, the top tier of the mine is 270m above sea level, but the lowest part is only 75m above sea level, so the mine has a depth of 195m.

Wres has a lot of potential ;-)