Member Info for GETINTHERE

Troajan

If blackrock have agreed to roll over their interest payments for 2021, (as Shard have suggested) we MAY, be lucky and be able to fund our other costs from sales of metal.

Here’s hoping ;-)

Troajan

They aren’t stupid unfortunately, all the signs are that production is going to ramp up, and if that happens and the market is updated, as it’s happening, the SP is likely to go up, but certainly not down, so I expect that we will see an RNS regarding conversion soon, to enable them to use the 19th -21st April and get their shares at 8.55.

I hope I’m wrong and they don’t convert, but if I were them I would do it soon.

Dreamy

As I posted last night, Atlas are in my opinion likely to convert their remaining $250,000 soon, and if they use the 19th - 21st of April they can get shares at 8.55p - a bargain basement price, unlikely to be achievable again moving forwards.

Troajan

I hope so, we could do with some divine intervention ;-)

The world economy has started to recover, and there is a large demand for metals. You can’t turn on the valve quickly to add new mine supply, and when you can’t do that and volume and demand rises, that translates into higher prices, we’ve seen the price of tin more than double from it’s low last year, and we’ve seen tungsten increase by about 50% so far, many forecasters expect tungsten to rise a lot more over the next year or so with some expecting over $400 per MTU.

Given that Shard have presumed an average tin price of $23,000 per ton, and an average tungsten price of $260 per MTU and that both of those figures have already been exceeded.

IF, we can now push through to full T2 production levels we will be making a healthy profit, but IF, on top of the production target being reached tin stays, as it is at the moment, about 20% above the Shard forecast and Tungsten does as expected increase further and averages only 10% above the Shard forecast, which would be $286 per MTU then our profits will be substantial and the SP will be many multiples of the current lowly figure.

Rumours of WRES’s demise are greatly exaggerated ;-)

Dreamy

I am a fan of your now cautious optimism ;-)

Shard stated that they were being cautious, which, given the history of WRES, was and is, in my opinion, a good thing.

Let’s hope that for once WRES exceed expectations, that would be nice ;-)

I would convert the remaining £250,000 using the 19th (9.125) 20th (8.75) and 21st April (9.125) which averages 9p and at 95% would give them shares at 8.55p - a never to be repeated ridiculously low price.

Their going to do it sometime that’s for sure :-(

Seawolf

Sorry mate I’ve been out again this time at my 101 year old mothers, who, unfortunately, always wants to go home, despite the fact that she is home ! Blimmin horrible Alzheimer’s !

I can understand that your faith has been shattered, this certainly hasn’t been either a quick or an easy ride, in fact it’s been the exact opposite, however, IF, we are now finally on our way to reaching somewhere close to the expected T2 production level by the end of the year, as was stated in today’s RNS, then our patience will, at long, long last be rewarded ;-)

Have a good weekend mate.

Sea wolf

I’ve been out for my usual 5 miles so have only just read your post, you are wrong mate.

79.3 tons this month, (you rounded it to 80) but, that’s as I said from the lower grade ore body, production is and will continue to increase as we start to mine the higher grade ore body, so you can’t just multiply 80 tons by the remaining 8 months of the year = 640 tons plus Q1 92.4 tons plus April’s 80 tons, which in any case amounts to 812.4 tons, as you are taking no account of either the higher grade ore, or, of the improvements in operating, or of the fact that for Q4 we will be on a 7 day week rather than the 5 day week we are currently on.

Have some faith mate.

Tenners

We will have shipped 60 tons of tungsten and 19.3 tons of tin in April, and this is without access to the high grade ore body as it is still currently underwater, so once the water has been pumped away I would expect higher levels of production each week and month.

This is from the RNS :-

“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.”

Q1 - Total tungsten and tin concentrate production of 92.4t

Month 1 of Q2 - Total tungsten and tin concentrate shipments of 79.3 tons

Q1 averaged 30.8 tons per month, in April we will have shipped 79.3 tons, that’s 2.57 times as much, and we will increase going forward.

Big Evi

You have a great weekend too mate.

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.

“As we move towards reaching our T2 production run-rate later this year”

Big Evi

A green box appeared just before your post, filter them mate, as things progress they will become more and more desperate to deramp, they didn’t see today’s RNS coming ;-) but the investors were expecting something like this.

60 tons of tungsten and 19.3 tons of tin by the 30th of April.

Ramping up towards T2 production levels.

I wouldn’t want to be out of this over the weekend ;-)

Kev, rodrod, safety,

I recommend the filter button, all I see when the usual suspects post are green boxes.

When you enter into dialogue with them you give them an opportunity to post again and again, I’ve tried both methods, responding to them and proving them wrong, and the filter, believe me the filter is the better option.

It’s an unfortunate fact that such people are present on many share chat boards, they add nothing, but will soon get fed up and move on if ignored by the true investors.

Hopefully this honest, and truthful post won’t get removed, we shall see.

Troajan

I think that Shard have as stated been very cautious, and let’s be honest, we can all understand why, given the numerous occasions that we have missed previous targets !

That said they have presumed 90.5 million shares in issue, and so have taken into account the further expected dilution within their figures, and I note with cautious optimism that they are still using a figure of $260 per mtu for tungsten, whereas the current price is circa $278, and they state that if the tungsten price increased by just 10% (so that’s $286 per mtu) that their SP prediction rises from 23p to 35p, and that’s all based on a total annul production figure of just 910 tons.

You do not have to be a mathematical genius to work out that if tungsten increases by say 20% that the SP will be A lot higher (if it’s a straight linear increase 47p) but in reality as the costs will not increase, only the revenue considerably higher.

All in all I believe that 2021 will be the year that we consolidate and improve and that from next year onwards we will finally see a significantly improved SP.

Dreamy

Take a read I just posted the link mate.

https://wresources.com/wp-content/uploads/202104-Shard-Capital-WRES-Research-Note.pdf

Straight from the RNS:-

Due to high water constraints, we did not have access to high grade ore areas and the ore that we used was of lower grade, less fresh and with high levels of ultrafines through much of March. This has clearly impacted production, such that whilst production picked up towards the end of March, we did not achieve the record production we were anticipating for the quarter.

In April the quality of ore fed into the plant has improved, as has the production of concentrate."