Member Info for GETINTHERE

So, if, WRES has to utilise more of the atlas facility and for arguments sake we end up with 120,000,000 shares in issue, (that’s more than a 50% increase in the current amount of shares in issue) what level of earnings would we then need to reach £1 a share ?

By my reckoning if we only had a PE ratio of 5, and had earnings of £25 million that would give us a market valuation of £125 million which is just over £1.04 per share if we have 120 million shares in issue.

Eflammis

No harm done mate just an honest mistake.

So tomorrow we will have 78,099,358 shares in issue, and if they open at the equivalent of today’s close each share will be 13.25p.

Let’s hope that we get some good news either when we get the Q1 results, or before ;-)

Good luck to all holders.

There was never going to be s suspension the shares trade today as normal and then the new shares trade tomorrow as normal .

OMR

I wish you well mate.

Although WRES are slightly lower at today’s close compared to last Fridays close we are still 48.648% up on the closing price two weeks ago.

Consolidation takes place next week, and I wouldn’t be surprised to see some other information before or within a few days after the consolidation.

Have a great weekend mate, and as safety has already stated, I wouldn’t want to be out of these over the weekend ;-)

DPC

I entirely agree, nothing is late or overdue, SNG will RNS outcomes in line with what they have stated some in Q2 and some in Q3.

Patience is the key.

The point is in the title of this thread “patience is all that is required “ if your not patient and believe that the SP will drop then sell, it’s simple !

SNG will succeed, good news is just around the corner, all of us that are invested and have read and researched know that Q2 (that’s April, May and June) is when we are going to see a lot of news.

We just need to be patient, if you believe in SNG that’s not a problem.

Bristol

It cost MM £795,000 for 1,500,000 shares x 53p details below:-

“W Resources Plc (AIM:WRES), the tungsten, copper and gold mining company with assets in Spain and Portugal, announces that the Chairman, Mr Michael Masterman notified the Company on 3 November 2014 that on 31 October 2014, he purchased 1,500,000 ordinary shares of 0.1p each ("Ordinary Shares") at a price of 0.53p per Ordinary Share.



Following this transaction, Mr Michael Masterman's interests in the Company (including related parties) are 739,882,503 Ordinary Shares representing 31.13% of the Company's total voting rights.”

Atlas have been issued with a total of 464,912,838 shares at a net cost (after the £20200 given to them as part of this latest conversion) of £479,800, that’s an average of 0.103202p per share.

No one knows how many of their shares they have sold, if any, but it’s likely that they have taken the opportunity to sell at least some of them at a profit, unless of course they believe that WRES will be a lot higher quite soon, in which case they may still be holding quite a lot, no one knows if and when they will convert the other £500,000 worth of CLN’s, but it seems likely that they will because of two reasons, 1. If WRES go under their debt is subordinate to blackrocks debt, 2. The SP is ridiculously low so if they believe that WRES will survive, let alone thrive, then it would make sense to convert, and soon.

Time will tell.

SP at close on Friday 12th March 0.925 SP at close on Friday 18th March 0.14 that’s an increase of 51.35% in a week, it will be interesting to see what the price is at close this Friday and then at close on the 1st of April following consolidation.

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

I have a lot on again this week so won’t be posting much if at all, good luck to all holders.

GUG

I’ve unfiltered you again.

By all means do a spreadsheet / keep tally of people’s guesses, I have a busy week ahead so if you have time it would be useful.

Given that we know :-

1. We moved to a 5 day week at the start of Q1
2. We had two weeks of full shutdown in order to do the upgrades
3. We had a further mining shutdown due to the level of water and rainfall in early February
4. We had our best recovery rates yet following the upgrades and the shutdown
5. We shipped 60 tons of tungsten up to 8-3-21
6. We shipped 20 tons of tin up to 1-3-21

I would realistically estimate that we will get :-

IN CONCENTRATE

Tungsten 120 tons
Tin 40 tons

Of course I will be pleasantly surprised if it is more than the above.

Superflymo

Don’t forget that we are producing tin and as safety posted earlier that in the FID we were expecting 1 part tin to 8 parts tungsten at approx $1900 per ton whereas we are producing more than 1-8 now and tin is well above $1900 per ton.

If we are getting 20 tons a month at only $12,500 that gives us $250,000 a month mate, and that’s why I believe our tungsten production only needs to be about half of our expected full production, so circa 112.5 tons of concentrate per month plus the 20 tons of tin

Superflymo

Sleeven

I followed up with this :-

Just to clarify:-

75 tons of tungsten metal (7500 mtu) a month at a current APT price of $260 per mtu. = $1,950,000 x 80% as per off take agreements = $1,560,000

Plus

20 tons of tin per month at let’s say conservatively $12,500 = $250,000

That would give us revenue of $1,810,000 per month - which as I said will I am sure cover our operating costs including interest of circa $550,000, in fact if we take off the $550,000 from the $1,810,000 we would have $1,260,000 per month to cover our OPEX, which was stated to be on average $110 per mtu, but if we assume that it’s higher than the average at the moment at let’s say $150 per mtu then our 7500 mtu would have an OPEX of $1,125,000, which taken from the $1,260,000 would leave us with $135,000 per month over and above our costs.

Obviously this is all based upon achieving only 50% of our full production and is therefore very conservative, but I do think that it is probably about where we are now whilst operating on a 5 day working week.

Sleeven

This is what I posted :-

As I see it we need production at roughly 50% of what was our target production in order to pay our costs.

So, that’s circa 90,000 mtu (900 tons) of tungsten metal per year or 75 tons a month (7,500 mtu) this is roughly the equivalent of 1350 tons of concentrate per year or 112.5 tons of concentrate per month.

Plus of course our tin production, of say 20 tons per month.

I believe that we are very close to producing the levels above right now on a 5 day week, and that moving to a 7 day week from next month will mean that we surpass the amount need to cover our costs.

Time will tell mate.

Sleeven

I posted details of the amount that I now believe we need to produce yesterday mate.

I will post it again in a moment

Sleeven

As I said nearly everyone on this board believe/ d exactly what you have said - but, that’s not what the CFO (apparently) told another poster.

Many of us have invested and remained invested and increased our investments based upon the belief that what we would get was 80% of the tungsten we produced, IF, that’s not the case then as I said we now need to produce 50% more concentrate than we thought, in order to get to break even.

L200

I must have missed it. When exactly did you state on this board that we only receive 80% of the 66% contained metal within the concentrate ?

Sleeven

Many posters and investors believe/ d the same as you mate, however a poster stated that he had emailed the CFO and asked the question and was told that each tin of concentrate shipped contains circa 66% of metal, and that we only get 80% of that 66%.

If you go back through the posts to late Friday afternoon you can see for yourself.

Or, if you prefer, if you click on any posters name you can look back through what they have posted.

IF, we in fact only get 80% of the 66% then we need to produce roughly 50% more concentrate to get to break even than most people had thought.

I’ve explained what it means in previous posts if you want to take a look mate.

Sleeven

Thanks for that information, I hadn’t remembered what he had said, but clearly that’s good, as it’s less than I had calculated that we would need to produce to cover our costs ;-)

I hope GUG has read it because as he apparently told safety - it’s good to be informed ;-)