Member Info for GETINTHERE

Sleeven

Mined ore from Regua will be partially processed at a site in Portugal the WRES have leased a part of, then it will be trucked to la parilla and fed through the appropriate plant

Seawolf / Dreamy,

I just got my email from Justine as well, confirming my registration and staying that she will provide log in details before the day.

Dreamy

I’ve posted several times that Atlas had until Monday this week if they wanted to notify WRES and get the lowest 3 day average price of 9p (8.55p with their 5% reduction)

If they have notified WRES then we will no doubt see an RNS about it very soon.

If I were Atlas I would have done it.

Has anyone had anything back from alma re next Monday yet ?

Am I correct in thinking that you got your buy yesterday at well bid the mid market price of 9.75 that was shown on here all day mate ?

Stevebt

The 23p figure is based on tungsten being $260 per mtu, it’s currently $278, and if you read it a bit more carefully you will see that only a 10% increase in the $260 price, which would be $286 results in a 35p forecast - additionally they presume tin at $23,000 per ton, and it is today over 33,000 per ton. Clearly if tungsten remains at $278 that will give an uplift in the SP if it increases then the uplift will be greater, and whilst the amount of tin we produce is a lot less than the tungsten we produce an extra $10,000 per ton is a significant amount which will be seen in the bottom line.

Only you can decide what to believe and what not to believe

Stevebt

Take s read of this RNS :-

Fri, 23rd Apr 2021 07:00

RNS Number : 4171W
W Resources PLC
23 April 2021









23 April 2021



W Resources Plc

("W" or the "Company")

La Parrilla Management Team and Shipments Update

W Resources Plc (AIM:WRES), the tungsten, tin and gold mining company with assets in Spain and Portugal, has appointed Mr. Jesus Martin as Plant Manager at the La Parrilla tungsten and tin project in Spain.

Jesus will bring more than 40 years of experience operating metallurgic and gravimetric plants, mostly on tungsten and tin projects in Spain, including: Rodalquilar, Los Santos, Penouta and most recently the Barruecopardo tungsten mine in Western Spain.

The senior La Parrilla management team includes Pablo Neira - Managing Director (Spain), Juan Garcia Valledor - Mine Manager and Jesus Martin - Plant Manager. This appointment strengthens the management team at a key stage in the production ramp up at La Parrilla.

With the team at full strength, concentrate recovery rates increasing and progress being made to lower the water levels at the mine, W looks forward to regaining access to the high-grade ore bodies and increasing production.

Shipments

In the quarter to date, W Resources has made three shipments with a fourth scheduled for later this month:

· Two shipments of 20t of tungsten concentrate

· One shipment of 19.3t of tin concentrate

· One shipment of 20t of tungsten concentrate is scheduled for 30 April 2021

Michael Masterman, Chairman of W Resources, commented: "I am pleased to welcome Jesus Martin to the La Parrilla management team. With the plant improvement plan recently completed he brings with him extensive experience and mining knowledge and strengthens the management team as we move towards reaching our T2 production run-rate later this year.

"We are making good progress this month and have already shipped 40t of tungsten concentrate and 19.3t of tin concentrate, with further shipments confirmed in the coming weeks."

Information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 which is part of UK law by virtue of the European Union (withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.



Enquiries:

W Resources Plc

Paul Hailes, CFO

investor@wresources.com

www.wresources.com

Grant Thornton UK LLP

Colin Aaronson / Harrison Clarke/ Seamus Fricker / Lukas Girzadas

T: +44 (0) 20 7383 5100

Joint Broker

Turner Pope Investments (TPI) Ltd

Andy Thacker / Zoe Alexander

T: +44 (0) 203 657 0050

www.turnerpope.com

Joint Broker

Alternative Resource Capital / Shard Capital

Alex Wood

T:+44 (0) 20 7186 9004

www.altrescap.com

Damon Heath

T:+44 (0) 20 7186 9952

www.shardcapital.com

Alma PR

Justine James

T: +44 (

Dreamy

No your not on my filter list, and your not likely to be, your posts are your honest views, and even if I don’t always agree with everything you say I do respect your views as a fellow investor, my issue is with non invested posters who post constantly negative, misleading comments and sometimes lies.

Stevebt

Link to the Shard report in the WRES website :-
https://wresources.com/wp-content/uploads/202104-Shard-Capital-WRES-Research-Note.pdf

Stevebt

I have the worst of the constantly negative, non invested posters filtered, and therefore only see green boxes when they post, this is due to the nonsense they have often posted in the past, I’ve noticed that there are a couple of green boxes, so one or more of them are at it again.

To give you an idea, one of them posted that the P in PE ratio was Profit ! And another stated that the board here had given mates rates to Atlas (a company who WRES have borrowed from under clear and specific terms) this was proven to be a lie.

I said before that you should make up your own mind, I would add, that my suggestion would be that you read the latest Shard report mate, it details the situation and is in my opinion a very fair and honest representation.

Good luck.

Stevebt

I have been invested here for almost ten years, my average is a lot higher than the current SP and I own 370,000 shares, I state this at the outset so that you know honestly where I am coming from.

The situation with WRES is that moving to full production has been delayed by almost two years due to various issues, we had the wrong size steels delivered whilst the plant was being built, and had to wait for new ones to be manufactured which took months, the new all singing all dancing kit, that was supposed to be state of the art, did not function correctly and as s result has had to be modified, in situ by our engineers, then we had like the rest of the world the issues caused by covid which included having to close the mine down for a month and then work firstly on 3 days a week, then 4, currently 5 and not moving to 7 day 24 hour working until later this year, then to cap it all, we had a massive amount of rainfall (well beyond what historically has ever fallen in the area of the mine at la parilla) that flooded the area where the highest quality ore is located, and we are still having to pump that area clear of water before we can get to the high quality ore.

The above is all factual, the current situation is that the plant is now working very well, tin is more than $10,000 per ton higher than expected, tungsten is about $18 per mtu (that’s $1800 per ton) higher than expected and is forecast to rise, we expect to be mining from the high quality area by the middle of the year and are forecast to increase production markedly in each quarter.

So, wether you invest or not, is really a question of wether you believe, (as I do) that WRES has, to paraphrase what was in the recent Shard forecast, finally past it’s nadir, and therefore firmly on the road to success, or wether you believe that yet further misfortune will be visited upon the company, as a couple of the non invested posters on here would have to believe.

Your choice mate.

Good luck with whatever you decide.

Wasp

We can but hope mate ;-)

Troajan

You have the patience of a saint mate.

I prefer the filter button so I don’t have to read the nonsense, unless someone else reposts any of it !

Geng

If he really posted that then he hasn’t got a clue what he’s talking about.

Atlas have converted all bar £250,000 of the money that WRES have borrowed from them, Atlas in accordance with the contractual arrangements can convert that £250,000 into shares whenever they like and WRES cannot just decide that they will repay them, Atlas and only Atlas could decide if they were prepared to allow repayment in cash, but, if you were them, given the expected increase in production and therefore likely increase in the SP, would you not take advantage of a 5% reduction in the SP from the 3 consecutive days that you can choose yourself.

Troajan

Page 6 of the Shard report shows opex in 2022 as $103 per mtu, then 2023 as $94 per mtu, subsequently when we move to the next phase in 2024 opex is shown at $102 per mtu, all of these include tin credits.

Given that Shard were basing opex on the tin credits being at an average of $23,000 per ton, if the tin prices remain as they are the opex will be less, and if tin prices increase, as many people are forecasting, then opex will be considerably less.

Of course if tungsten increases as is also forecast then our profitability increases massively ;-)

Troajan

You really must stop posting facts that don’t coincide with the agenda of those that wish WRES to fail mate, you should know by now they don’t like facts mate ;-)

I will be very surprised if Atlas don’t convert their final £250,000, but if they want the cheapest price they will have to notify WRES today, or they will be out of time for the 3 day period of 19th - 21st April

Mullins

I have mate - that’s why I have a green box ;-)

The facts are that:-

1. We have received the grant that some said we wouldn’t receive
2. The kit is now working very well
3. Tin is more than $10,000 above the level expected in the Shard forecast
4. Tungsten is marginally above the level in the Shard forecast
5. Many analysts are forecasting that a commodities super cycle is on its way, or perhaps is already underway

My belief is that MM was told he would, and was expecting to get, the news about the grant, last month, which is why he had intended the Q&A would’ve been held in April, but that, with local government being as it is, the notification was delayed.

I wonder, is it yet another negative comment from someone not invested ?

Maybe, just maybe, the receipt of the grant and the paying down of some of our debt might mean that coupled with increased production and sales at higher prices, we, MAY, not have to borrow anymore from Atlas - that would be a good thing ;-)