Member Info for GETINTHERE

Judging by the 3 trades so far today It would seem that most holders now are going to continue to hold and that new investors will be few and far between, until the next RNS comes out at least ;-)

RM stated on the video that he hoped to announce some good news soon.

It’s unusual for a CEO to make a statement like that, and my bet would be that he already has a deal agreed and that they are just going over the paperwork dotting the I’s and crossing the T’s

I suspect that anyone holding here is likely to be very happy at some time in the next few weeks.

Your best bet is to do some research, try starting off by reading all of the RNS’s.

Don’t make any decisions based on what you read on this or any other board.

Make your own mind up.

MIB

Yes a question was asked and the response was that the kit was not fit for purpose and negotiations for appropriate compensation was ongoing, clearly, as the matter could end up in court, if an agreement on the level of compensation is not reached, he couldn’t say any more.

Troajan

I expect the quarterly results to show only a very modest increase on Q2 mate, July was poor August wasn’t much better and September is only likely to be marginally better, as the new rollers have yet to be installed and have a 4 week lead time, sonif ordered in day mid August by the time they are installed and adjusted to work correctly the quarter will be finished, also they have and still are only operating 3-4 days a week.

For me, Q4 2020 and the first two quarters 2021 are going to be what decides things here once and for all, and I strongly believe that we will be able to make a significant improvement and start making serious profits.

As for countryfile, thanks for letting me know I will try to watch it, but I’m looking after my 100 year old mum this afternoon until my sister arrives early evening to take over so I may have to catch up with it on iplayer mate.

Dreamy

Tungsten now $215 per MTU and tin $18245 per ton.

WRES will come good and I hope it’s before you need to raise any cash.

Dreamy

I hope that the SP gets back to at least your break even point before you have to sell any.

I agree that mistakes have been made, but I don’t know anyone who is perfect, and that most definitely includes me ;-)

I have always believed that WRES will be a profitable investment, and despite the issues that we have faced, I believe that in time I will see a considerable profit on my investment, I am fortunate that I do not have to access any of the money I have invested anytime soon, so I can wait as long as it takes, of course that doesn’t mean that if it went t..ts up that I wouldn’t be peed off, I would, but I think that is very unlikely.

By my reckoning MM has so much of his own money invested here that he will Move hell and high water to make this work - of course time will tell ;-)

Dreamy

He made it clear that he is sticking with 3 monthly reports, but, as you say, he has every opportunity to provide us with other indicative information, such as, when the rollers have been installed and are working, and from recollection I believe he said that he was intending to keep RNS’s coming at the rate of one or two a month, so as to keep investors informed.

I am sure that WRES will come good, albeit much later than any of us expected !

If it’s not till the middle or late next year, is that a problem for you ? I vaguely recall that you may have mentioned that you might need to pull some cash out before then ?

Joey

I have 20% of my net wealth invested here, I too am 75% down, but there are many very important differences between you and I :-

1. I have held shares here for eight years, and each time I have bought it was a conscious decision to do so, knowing and understanding the risks - you on the other hand appear to have bought them whilst checking the price, and, rather than simply sell them immediately, chose to hold on to them, which was your conscious decision, no one else’s.

2. I have held onto my shares because I have always, and I continue to believe that WRES will come good, hence the reason why I don’t moan and groan and whinge and whine about the company and the CEO - you on the other hand constantly moan, groan, whinge, whine, deride the CEO and the company, tell all of us regularly that WRES will go under, but, crucially and unfathomably, haven’t sold your shares ! Which makes no sense whatsoever it’s crazy to hold shares in a company that you think is going to go bust !

3. I did a lot of research before investing in 2012, and have continued to keep updated since then, I’ve attended presentations and AGMs, and yesterday took part in the webinar, posed questions both in writing before hand, and verbally at the time, and, I was and remain happy that my investment is not going to be lost and will in time make me a substantial profit, this is why, if and only if, I were to come into more money, that I would invest more, it would reduce my average and therefore is a logical thing to do based upon my beliefs - you on the other hand clearly have done no research, I doubt that you have ever attended any presentations, any AGMs and I don’t think you posed any questions or took part in yesterday’s webinar, and consequently I believe that your knowledge and understanding of WRES leaves a lot to be desired.

In simple terms you made a mistake in buying, you made a mistake in not selling straight away, you made a mistake in not doing any research, and, if, you truly believe that WRES will go under, you are making a further mistake in holding onto your shares, what’s more your constant whining and negativity is not achieving anything an will not achieve anything.

If you don’t like WRES then sell up and move on, and give the rest of us a break !

Troajan

In all honesty before the webinar I thought that I had a rough idea of where we were, the webinar confirmed a lot of what I thought, but Michael and Pablo’s presentation and responses to the numerous questions that were posed made me even more convinced that WRES will not only survive but will prosper over the coming years.

If I win the lottery over the weekend I will be buying more next week :-)

Going - as I said it was useful and informative.

The reality with WRES is that the SP is not likely to move too much outside of a range circa 0.11 - 0.15 - until we get some substantial news.

The 3rd quarter is not going to be great, it’s going to be marginally better than Q2, so that’s not going to have much effect.

Q4 and then the first two quarters next year are the important ones, they will tell us if and when WRES is going to become profitable.

It’s unlikely that covid is going to cause a plant closure, but like many things it can’t be ruled out completely.

I’m heavily invested here, if it comes good, as I hope and expect that it will, I’m going to be very happy, if it goes under I’m going to be unhappy but it won’t affect my lifestyle.

Useful and informative:-

Extremadura
If you do not fancy a beach holiday this year, and enjoy long, country drives, it may be time to think about Extremadura.

Out of a population of 1.06million, Extremadura has reported just 4,053 positive cases of coronavirus, making it among the safest regions in Spain.

Countries are responding with lockdowns, that is correct, however those lockdowns are in most cases localised to the areas that have increased cases, and la parilla is 100s of kilometres from any such area.

Dreamy

Q3 is only going to show a small improvement on Q2, the litmus tests are going to be Q4 and then the first two quarters next year, by which time we will hopefully be breaking even and expecting profits to be generated from Q3 onwards next year.

Given the situation, In my opinion the SP is now unlikely to move much this year, but medium term - 1-2 years and long term 3 years plus, I expect to see the SP at many multiples of today’s price and several multiples of my average.

Miners usually take on average 10 years to become profitable, we had hoped and expected WRES to be quicker than that, but by my reckoning it will be 2021/2022 when we finally get there, and having first invested in 2012 that’s going to be pretty close to that 10 year average.

Jaffaman

Yes Q3will be better than Q2, which given that July was very poor, August was holiday month in Spain, and that MM stated that the plant has only been operating 3-4 days a week for the last two months (partly to do maintenance and upgrades, but also because they want to keep costs low whilst the tungsten price has been lower than expected) it’s actually good that he expects production to be higher for Q3

WRES will come good but it’s going to take some time before we start to see production at the levels initially expected.

Q3 is expected to be better than Q2 - but that’s hardly a surprise given how dire Q2 was ;)

More importantly BlackRock are fully supportive, improvements have been and continue to be made, and the long lead equipment times are actually only about 4 weeks, so in my opinion a significant improvement should be achieved in Q4.

MIB

MM is no different to any other CEO who is starting up a mid tier miner mate, Except that unlike most of them, he has a massive amount of his own money invested in WRES, and consequently, no matter how long it takes, no matter whatever he has to do to ensure liquidity, and no matter what he has to do to get production to the level it needs to be, he will do it.

Nil desperandum - our time will come.

Seawolf

Sorry mate I’ve been at my mother in laws all day working in her garden and only just got home and read you post.

I think that MM, like every CEO, is always going to be upbeat, and if I’m honest, in the beginning, 8 years ago ! I used to take what he said literally, however as time has gone in I’ve learnt to accept that it’s better to compare what he says against other start up miners records in terms of timescales and teething issues and accept that the chances are that full production will take longer than he says.

Most start up miners take 10 years to get to anywhere near good production levels, and some of course never do, however for those that do the SP usually jumps in multiples once the good production is achieved, and that’s what I hope and expect to happen ;)

Seawolf

MM has stated from the outset that he is looking to build a mid size miner with WRES, he was looking for a market capitalisation if circa £400 - £450 million, now, if we say that we only manage to achieve a market capitalisation of £200 million, and if we say that there is a massive amount of additional dilution to get there, and we end up with 10 billion shares in issue, then even then, we would end up with an SP of 2p per share, so, in my book getting the funds to keep going and eventually achieving the aim of being a mid tier miner is well worth the cost, the alternative is insufficient funding and the company failing, which means we all lose the money we have invested.