Member Info for GETINTHERE

It’s $23031 as at 1.54pm on the site I use mate.

There was nothing wrong with the interview and it certainly had nothing to do with the drop in the SP, which was no doubt driven by the automated system that deals with stop losses.

It’s more than likely that the SP will go back up in the morning, but in the long run it doesn’t matter.

Dreamy

We are back to the glass half full or glass half empty way of looking at things mate, I understand your frustrations and of course to a degree concur, but I’m positive in life and positive regarding WRES, I know that it may take a lot longer to get to profitability and for the SP to get back to a level where I’m in profit, but I believe it will happen and I can afford to wait because I don’t need the money I’ve invested.

2cvguy

Keep the faith mate, better times will come, despite the naysayers.

Dreamy

MM stated ages ago that he was looking for a market valuation of circa £300-£400 million, now obviously that was based on the FID, so with an average tungsten price of $300 per mtu, tin at $19,000 per ton, and once la parilla was at T3.5 and Regua was up and running.

Clearly tungsten is currently $60 lower than the FID, and covid along with various other operating issues has caused us to have to borrow more money, but, tungsten is forecast to rise, production is increasing, and they are hoping to get Regua up and running.

1p before the end of the year is a tall order but it’s not impossible, it will be great if it happens, but if we aren’t there by then but are still moving forward in all fronts at least we will be free of the nonsense comments from the nasty bunch who state that we are going under, and the SP will be multiples of today’s price ;-)

2cvguy

It was $7 million mate and the RNS said :-

“The initial US$2.75m tranche of funds has been drawn this week. The additional facility will, once fully drawn down, increase the total outstanding Blackrock facility to a principal of US$47 million plus accrued interest."

Whilst I agree that we’ve not been told the rest has been drawn down I think that the comments above showed that they intended to do so, and I’m sure they will have done so, albeit that it would be great if they hadn’t ;-)

There’s only one individual who I kept filtered because of his behaviour and he hasn’t posted for ages but now he’s posted twice in one day, that’s a sure sign that things can’t get much worse.

Dreamy

Let’s just suppose for a minute that MM calculated how much cash he would need to get us through to the point of producing enough so as to be able to cover our costs, that he approaches blackrock and they lend him an extra $7 million but only for la parilla, but he wants to get Regua up and running, because he knows that there’s 3 times the amount of tungsten per ton there, so, he borrows a further $500k from Atlas (notice NOT Atlantis! ) to get Us moving in Portugal ASAP, proving in my opinion that he was far sighted in ensuring that he has further funds to call on if he needs it but doing the deal with Atlas in the first place, then let’s presume that by negotiating to pay creditors in shares he knows that he is still able to get us to break even.

I suggested almost a year ago that, providing we are able to hit our production targets, that even if we ended up with 10 billion shares in issue, we would still be profitable, and the SP could still be upwards of 1p, and that remains the case.

I still believe that WRES will be profitable, if you don’t then you need to decide what to do.

All long term holders here know what money has been borrowed from where and when, we all know that further dilution is not ideal, but, if the choice is borrow more and or dilute more, in order eventually to get us to profitability, or, don’t do that and preside over its demise, I don’t think that MM could have made any other choice, do you ?

Whilst further dilution leaves a lot to be desired, if I were a creditor there’s no way that I would be happy being paid in shares rather than cash - unless of course I believed that I would make a substantial profit on those shares ;-)

Tin is now $23031 per ton and tungsten is $235 -$240 per mtu

Quote from the RNS:-

"The team at La Parrilla has been strengthened with very experienced individuals, all experts in their fields of mining, plant operations, metallurgy and maintenance and following the improvements delivered in Q4, we are excited about the increasing traction already achieved at the start of 2021."

Should be interesting

Golfpro

I don’t think you are far off with those figures mate tungsten 150 tons or more for Q1 and 300 tons or more for Q2 is what’s needed from la parilla, of course if we get Regua up and running then those figures would be higher.

Antanatar

I know where your coming from mate.

I think that the only way that new II and PI investors are going to be attracted is by WRES increasing production month on month and hitting the targets that we have for full production under T2, I expect us to do that and of course if we do then MM will have something really positive to portray to the market.

Antanatar

Like you I’ve been here for many years 2021 is my ninth year in fact !

In your first post you intimated roughly how many shares you hold, if you put a 0 on the end then that would be close to how many I hold, and like you I am well underwater, mate.

There have been a series of unfortunate events with WRES, as I am sure you are aware, but, despite the low SP, the fact is that we are now finally, from a production point of view on an upward trend and once the Atlas CLN shares are cleared out of the way and we get our Q1 results in April, the SP will follow that upward trend.

There are over 7 billion shares in issue and more than half of those are in private investors hands, and most of us are sitting on substantial paper losses, but, on aim a large paper loss can turn into a gain very very quickly and if the tin and more importantly tungsten prices rise as is expected and that happens at the same time as increases in production, our paper losses could disappear in a relatively short amount of time.

Dreamy

Glass half full, glass half empty.

Either way we are agreed that as you put it we are on an upward trajectory.

As for the warrant holders, if the SP is high enough for them to convert, then yes it’s possible that some of those shares will be sold, but it’s also possible that if the trajectory is still upwards at that time, and a much higher SP is expected, for instance if by then there was a plan, or better still action was being taken regarding T3.5 and or the gold, then it’s by no means certain that those shares would in any large amount be sold for a small profit.

The fact is that we simply don’t know what the situation will be by then, we don’t know what the price of tin and tungsten will be, we don’t know how much we will be producing from la parilla and Regua.

My glass is half full mate.

Tin has now risen to $22645 per ton that’s the highest it’s been since 2014, tungsten has also risen by just under $8 per mtu in China.

We all know that the CLN Atlas shares are likely to continue to keep the SP down here in the short term, however that overhang will work through the market and with both tungsten and tin on the rise, 5/24 working now, 7/24 working due to commence in April, the possibility of Regua coming online, production is very clearly going to be rising, and the SP won’t be held back forever.

It’s not going to happen overnight but we are likely to get to break even over the next 6-9 months and become profitable in the latter part of H2 this year.

Sleeven

Thank you for posting that information, it demonstrates that despite the constant negative and nasty comments from a couple of posters on this board, that WRES can and most likely will become profitable and therefore succeed.

Freedom

Troajan is correct, we need to have the mine working 7 days a week, but that’s expected to happen in April, so with luck the second half of this year will see us move firstly to having sufficient income from sales to meet our costs, and then subsequently to see us making a profit.

If they can get Regua up and running as well, then production will get to sufficiently high levels to become profitable sooner.

Time will tell, but I, and many other long term investors believe that WRES will succeed, in a years time, or less if we’re lucky, we will know.