Member Info for GETINTHERE

$29,540 cash and $26,700 on a three month contract

Whilst tin is a secondary product for WRES, Clearly increasing prices for the metal can only help ;-)

Seawolf

Or, it could be, that he has learnt that it makes more sense to keep quite and publish the results at the time he said he would.

Let’s be honest none of us know what is happening, we are all just speculating, whilst waiting for the results,

I’m naturally an optimistic person so my speculation is positive, others holders are more pessimistic so their speculation is more negative, and then of course we have the narcissistic few, who aren’t invested but take pleasure in telling everyone that the end is nigh.

We will all just have to wait and see mate, but I’m sticking with believing that what was in the Q4 RNS was true and that things are getting better.

MIB

Frustrating as you may find it, WRES aren’t likely to post an RNS just to tell us that further improvements have been made to the kit.

We were all told that we would get quarterly results and that the interim results provided during the last quarter were a one off.

We all just have to be patient.

Dreamy
These are the facts from the Q4 RNS published in January 2021 relating to the situation as it actually and factually is now, people can choose to be negative if they want but they can’t argue with any factual information that the company is not improving production :-

Straight from the Q4 RNS :-

During the three month period ending 31 December 2020, the Company continued to make plant improvements resulting in major production increases across the board. These improvements continue apace and should be completed in early February 2021.

During the quarter, the plant continued to work a four day week, moving to a five day working week in early January 2021, with a target to move to a seven day working week with effect from April 2021.

Currently each working day consists of three, eight hour shifts and once the plant moves to a seven day working week, it will revert back to two 12 hour shifts.

The Company looks forward to once again operating the La Parrilla mine on a true 24 / 7 basis, which is widely accepted within the mining community as "best practice".

————-

In Q4, the plant improvement programme included the following:

· Jigs: replaced screen panels and quaternary mill rolls with materials more resistant to abrasion and modifications to jigging speed to improve recovery.

· Spirals: replaced polyethylene pipes with others more resistant to abrasion, modifications made to reagent feed to float arsenopyrite on shaking tables, and preparations for the recommissioning of the rod mill.

· FME (Flotation, Magnetic and Electrostatic): integrated system for wet reprocessing of off-spec concentrates, improvements to flotation density, installation of a new magnetic separator, modifications to some pumping points to produce a higher capacity.

Benefits of the plant improvements:

Greater plant availability with better recoveries and improving maintenance has led to:

· Increasing process stability

· Greater run times

· Less impurities going into final concentrate

· Increased production

————

Recoveries for the quarter were impacted by the performance of the jigs which slowed the recovery rates for both October and November. Whilst this was disappointing, especially after such a strong September, the improvement programme identified the issues which were resolved alongside other key plant improvements and resulted in December being the best ever month for concentrator recovery at 50% and WO3 concentrate at 41.5%

———

So, if anyone can post any factual reason why production is not going to be improving please do so, I would be very interested to read any facts.

Golfpro

That’s good news and whilst the moaners and groaners and the derampers and trolls will no doubt continue with their negativity, the fact is that Regua has 3 times the amount of tungsten per ton than la parilla has and we have been told that they are intending to get it up and running ASAP, and Portugal’s covid rates dropping significantly can only help with that.

The fact that the SP is ridiculously low at the moment is not relevant unless you want to sell, and as the trolls and derampers don’t own any shares they won’t be selling any, just spouting their negativity.

What matters is production levels, the amount that we receive when we sell what we produce and then what the SP is once we have the Q1, Q2, Q3 and Q4 results.

I’m massively down on paper but I am sure that WRES will come good over the coming months and that within the next two to three years we will be a mid tier mining company with a market valuation to match.

Straight from the Q4 RNS :-

During the three month period ending 31 December 2020, the Company continued to make plant improvements resulting in major production increases across the board. These improvements continue apace and should be completed in early February 2021.

During the quarter, the plant continued to work a four day week, moving to a five day working week in early January 2021, with a target to move to a seven day working week with effect from April 2021.

Currently each working day consists of three, eight hour shifts and once the plant moves to a seven day working week, it will revert back to two 12 hour shifts.

The Company looks forward to once again operating the La Parrilla mine on a true 24 / 7 basis, which is widely accepted within the mining community as "best practice".

————-

In Q4, the plant improvement programme included the following:

· Jigs: replaced screen panels and quaternary mill rolls with materials more resistant to abrasion and modifications to jigging speed to improve recovery.

· Spirals: replaced polyethylene pipes with others more resistant to abrasion, modifications made to reagent feed to float arsenopyrite on shaking tables, and preparations for the recommissioning of the rod mill.

· FME (Flotation, Magnetic and Electrostatic): integrated system for wet reprocessing of off-spec concentrates, improvements to flotation density, installation of a new magnetic separator, modifications to some pumping points to produce a higher capacity.

Benefits of the plant improvements:

Greater plant availability with better recoveries and improving maintenance has led to:

· Increasing process stability

· Greater run times

· Less impurities going into final concentrate

· Increased production

————

Recoveries for the quarter were impacted by the performance of the jigs which slowed the recovery rates for both October and November. Whilst this was disappointing, especially after such a strong September, the improvement programme identified the issues which were resolved alongside other key plant improvements and resulted in December being the best ever month for concentrator recovery at 50% and WO3 concentrate at 41.5%

———

So, if anyone can post any factual reason why production is not going to be improving please do so, I would be very interested to read any facts.

The latest price I can find is $250 - $255 but that was from 12-2-2021 so is a week out of date, but it’s encouraging as it was at almost a two year high ;-)

https://www.metalbulletin.com/Article/3975341/Search-results/Tungsten-scrap-concentrate-tightness-pushes-APT-price-to-near-two-year-high.html

That’s not so bad ;-)

Safety

The cash price of tin today is $28162, the 3 month contract price today is $25250 mate.

Tungsten APT in china is $247.50 but I think it’s still $245 in Europe.

We need to be increasing production, and I’m sure that we are, results in April will tell us what’s what.

Dreamy

I see that your glass is still 80% empty ;-)

Dreamy

I see that your glass remains 80% empty mate ;-)

Bigevi

Yes indeed we just need Portugal to improve on the covid front and then we can get things moving at Regua

So, in my view our production is improving and when we get the Q1 results in April the SP will start to recover, tin is thankfully at a really great price and massively above the FID expectations unfortunately tungsten is still sat at $245 which is below the average figure of $300 that was expected in the FID, so we need it to rise and or we need a very large increase in tungsten production - of course if Regua comes online we will get a good boost - here’s hoping ;-)

Safety

You are understating the tin price mate it is $28710 cash and $24620 on a 3 month contract :-

https://www.lme.com/en-GB/Metals/Non-ferrous/Tin#tabIndex=0

You make a post but it doesn’t show so you do it again and then you see the original and the second post !

The current par value of the shares is 0.10p, if they decided to change the par value to 1p, which would mean that we would all get 1 share for every 10 shares that we own, of course those shares would then, (in theory, and if nothing else changed) be worth 10 times the current price, so that’s 0.095 x 10 = 0.95p - which would then still be below the new par value, and which in turn would mean that they still couldn’t issue more shares.

The fact is that changing the par value of the shares cannot and will not on its own do anything, we need good news, and in my view that won’t happen until the next quarterly results are issued.

Of course if someone were prepared to buy shares at the par value or above then and only then could the company issue more shares and raise more cash.

None of the above however stops WRES from calling down more cash from Atlas, it just stops Atlas from converting any of the current or future CLNs - but if WRES are producing enough then they don’t need to draw down any more do they ? And that is I believe the position that we are in.

Dreamy

To me at least no news is good news, I’m hoping that he doesn’t need to draw down another £500k because our production and therefore income has improved significantly, if we don’t hear anything until the results in week 3/4 of April then I suspect we will be on our way back up shortly afterwards.

Foody

Can you please explain why you think that most of the trades are yesterday’s trades ?

Dreamy

I see that your glass is now 60% empty ;-)

The SP here is only going to improve significantly if and when we get some substantial news, or, if a very big buyer starts to purchase large amounts of shares, but I can’t see that happening before any substantial news either, so, we will have to be patient and just wait.

Jaff

The only problem with what you are suggesting is that anyone getting SNG obviously already has the virus, and therefore could have problems with taste and smell, wether or not they are on the placebo or SNG mate