Member Info for GETINTHERE

I can point you in the direction of the proactive article published on the same day as the half year results which shows £1.01 million not € :-

“Production in the first six months of 2020 reached 106.5 tonnes of tungsten concentrate and 64.5 tonnes of tin concentrate, resulting in half-year revenues of £1.01mln compared to £0.29mln in the same period last year.”

No, in order to calculate something you need to have the exact details of every part of the equation, I don’t have them, do you ?

Outlook

There is no question that we faced challenges at La Parrilla at the start of the year, however these were further compounded by the significant global challenges of 2020. Notwithstanding this, I believe that our team has responded to them thoughtfully and effectively.

Whilst production is still building, we have taken proactive steps to mitigate against the plant challenges with recoveries now improving. We have delivered strong tin production and the quality of tungsten concentrate has been well received by customers.

We have turned a corner at La Parrilla and feel confident that, following the installation of the bulk of the operational plant improvements, the plant can progressively increase both recoveries and utilisation to increase production to design capacity.

At Régua, mining and construction operations are currently paused, pending confirmation from the Portuguese authorities.

The team, with the strong support of the Board, continues to execute development well and this is a credit to the calibre of the management team.

Can I borrow your crystal ball please ?

If you haven’t got one then you cannot possibly know what is going to happen.

Clearly he may need to use a little more of the atlas money but equally he may not need to.

We had cash in the bank at the end of H1 and that coupled with sales may be sufficient to see us through, particularly if he PIK’s the November black rock interest, which he has already gained agreement to do.

You know no more than anyone else.

MIB

MM, like me and like you, is not perfect, he hasn’t got everything right, but, he is determined to make WRES work, and like you, I believe that he will.

He is actively working in the background to do a deal regarding the gold, that is obvious from the half yearly report, and if he succeeds it will have a beneficial effect on the SP, but clearly his ability to strike a deal with a JV partner, has been and at the moment continues to be, hampered by the differing views of the two companies in regard to the presentation of the gold in the ground, I am sure that had it been clear, that we would already have a deal in place.

Black rock are fully supportive and sit in every board meeting, MM has ensured that should covid cause more problems, or indeed should there be any other problems that arise, that he has access to funds from Atlas to keep the company going, to me that was and is a very sensible thing to do.

We have already been very patient and we just need to continue to be so, WRES will come good it’s just a question of when, La Parilla is improving every week, and the gold project will eventually assist us, which of those become the catalyst for the start of our recovery remains to be seen.

Revenue is shown in £, but tungsten is sold in $, £1.01 million is at today’s exchange rate $1.307 million.

As we all already new, the first six months were poor, the 3rd quarter is not going to be much better but will show an improvement, the 4th quarter will be considerably better and will show, finally, that we are on our way to reaching full production.

Nil desperandum.

Our time will come.

Eventually ;-)

Dreamy

Did you miss this comment from Michael, on proactive :-

We have turned a corner at La Parrilla and feel confident that, following the installation of the bulk of the operational plant improvements, the plant can progressively increase both recoveries and utilisation to increase production to design capacity.”

Seawolf

Q3 will likely only show a small improvement, but Q4 is likely to be the catalyst for the next years performance mate.

Time will tell ;-)

"With the bulk of the operational plant improvements now completed at La Parrilla, we are starting to reap the benefits of the substantial improvements and production is building. In order to mitigate against risk of further impacts on production as a result of this pandemic, W has in place the Atlas facility which provides additional funding to ensure the Company has a strong buffer in these unprecedented times."

MM stated that he was aiming for a circa £400 million market cap - so your £1 billion is way over the top of my and his expectations.

I would be happy with £200 million as a market capitalisation, and that is entirely achievable within the next couple of years.

They will sort out the extraction issues and start producing at the rate that was expected within the next year, black rock must belong this as otherwise they would pull the plug and take a loss.

Given that the price was pushed up this morning, it is possible that there was a buy order in for 9 million that was split into two, rather than the two trades be rollovers, which would explain the prices that were paid.

Unless someone states that the trades were theirs, we will never know for sure.

Tonlin

Dreamy is correct, covid hasn’t been a problem at la parilla, so far at least -;)

Dreamy

That will be nice

Tonlin

You take care too mate.

Hi Tonlin

Sorry I’ve only just read your post as I’ve been out for my daily 5 miles and left the phone at home.

I am fit and well thank you, and trust that you are also?

I don’t hold a lot of shares here but that’s only because I have so much invested in the other company and can’t bring myself to sell any of them given the current SP and the probability that at long last the next 7-10 months will finally see them come good, but, I really believe that SNG will get fast track approval and that the SP here will be multiples of the current price.

See you on the dark side when the next quarterly results are announced ;-)

Wedme

An excellent post that clearly explains why and how SG001 works, and why it will receive approval sooner rather than later, so that it can be utilised very quickly to save lives and reduce the otherwise severe effects that some people who are infected will suffer

Safety

I’ve not seen anyone grousing on here for a while, who do you mean mate :-)

Almost 11 million bought before 9am and under 4 million sold

Dreamy

China APT is $217.5 per MTU

Ponfeigh

Anything is worth a try but if I’m honest I can’t see this moving out of the 0.11 - 0.15 range until we get some substantial news.