Member Info for GETINTHERE

Dreamy

I can’t disagree with anything you have said mate, although I don’t own as many shares as you my investment is 20% of my net wealth and whilst I still believe it will come good, I can’t any longer rule out that it might not.

It is now simply a matter, as I have said before, of wether the kit is at fault and has or can quickly be sorted so as to extract the tungsten, in which case we will be fine, or, wether the JORC was wrong, and the tungsten is not there in sufficient quantities so as to make the mine viable, which whilst very unlikely is none the less a serious concern, as we would then be reliant on getting Regua up and running and the higher grades from there through the la parilla plant.

Oh well we will have a far better idea at the latest in mid October, and hopefully we’ll before then.

We could certainly do with some good, clear, concise news !

Dreamy

Yes I noticed it, I came to the conclusion that the May payment must be the June quarterly payment mate, from recollection the payments are due in February, May, August, and November, which of course adds validity to your other comments regarding August being a very important month, as we will either have to be able to pay black rock, or get agreement to PIK this quarters interest as well as the last one.

Given the Shipped figures for July (up to the RNS) and presuming that most if not all of that was produced in July, then it would appear that production has improved and if so, we should be in a position to have sold enough tungsten and tin by the end of August to be able to make the August (this quarters) payment.

This is as you say an important month, this is a very important quarter.

Kev

Yes I know mate, the fact is that as with all companies when some people sell others buy, we have lost maybe 3 or 4 long term holders, but all of their shares have been bought, and many of them by other current long term holders who are seeing these prices as a great time to reduce their averages.

As you say and I have said many times, time will tell ;)

Golfpro

Sorry mate but I would prefer to ask my own questions if and when he holds a video conference call.

Dreamy

Yep I do remember, and we all know it didn’t happen, but I suspect that it is more likely that he will in fact do a video call with shareholders, although I doubt he will do so until and unless there has been at least some positive news RNS’d

Ive gone back and checked the actual shares that have been traded since the day of the quarterly results, it is actually 624,376,127 which is 9.32% of the shares in issue, so, an overwhelming majority of shareholders, have like most who post on here, decided thus far at least, up hold their shares presumably because they must believe WRES will eventually come good, of course they and we could be wrong, but equally we could certainly proven to be correct.

MM has 30% of his net wealth invested in WRES, and his reputation, (which has clearly already suffered over the last year or so) he wants it to succeed, it will make him rich and restore his reputation, time will tell wether it will or not.

Cookie

Part of the deal for black rock to provide the finance was that he had to retain the gold mate, that’s why he didn’t pursue the possible sale / joint venture that he originally told us about a few years ago, they wanted it retained as it is collateral, along with all the kit, and Regua and tarouca

Quarterlies are due mid October, cookie, but we may well get other news before then, as MM has stated there will be a video call with him for shareholders, and I would be surprised if he didn’t put something out before that happens, also he needs to confirm that black rock have agreed to PIK the last quarterly interest payment, and we are of course still awaiting the grant mate.

The market makers saw the results and determined quite rightly that there was a risk that the company might fail to become profitable, they dropped the SP 20% from 0.25 to 0.20 prior to the opening bell on the day the results came out.

Since then over 7 trading days, about 10% of the shares in the company circa 670 million shares have been traded, with a number of long term holders deciding to sell out at a loss, rather than take the risk of losing everything, as a result the SP has dropped further down to 0.1425.

What this tells me is that 90% of the shares that were held prior to the results are still held by the same people, and that the 10% that were traded are now held by new people (albeit that some original holders may have sold some shares and then bought them back at a lower price - I did with a small amount)

So, reality, yes this company, like any company, may fail, I know this, as does everyone else who is invested, I’ve never believed it was likely to happen, but it is more likely now than at any previous time, however it is most definitely not certain that it will fail, if it was, then every shareholder would be crazy if they weren’t selling up ASAP. The fact is that the production and shipping in the current quarter will most likely determine the viability of the company.

Now we have many large shareholders who post on this board, all are concerned at the last results, some are concerned but optimistic, some are concerned but stoic, and we have one who apparently whilst deriding any positivity, says that if the company fails he may buy it and take it private himself, this seems strange, because if you had invested 1/3 million here, but think the company will fail, why on earth would you want to buy it if it did, because if mining professionals can’t make this work, how could a layman, even a presumably very rich layman, of course I suppose that if you wanted it to fail, so that you could buy it, cheaply, the only logical reason would be if you actually believe that the company can in fact be profitable, and if that is the case it makes sense to deride any positive comments.

The fact simply is, that no one on here knows if WRES will have another poor quarter, an ok quarter, or a spectacular quarter, and therefore no one knows if we will succeed or fail, we will all have to wait and see.

Marklee

I know mate I think we are all just a bit annoyed at the moment and it’s not helped by the nasty little posts from some of the you know whats ;)

Nit sewer wy bit me pists av stitted sooondin lik somin ut iv allo allo ;)

Golfpro

As ling as it’s nit like a parrot, we’ve had a few of them posting on here !

MIB

I’m not out of this over the weekend, thank goodness ;)

From the RNS:-

“A further 20.4t of tungsten concentrate and 39.0t of tin concentrate has been shipped from 1 July to date.”

Note the word further, which is clearly in addition to the amounts quoted for the second quarter.

Going

Please read my post timed 16.32 which specifically says SHIPPED !

An apology for implying that I was trying to mislead would be good !

Nmh19

Hopefully that will happen in September, we would need to be producing three times what we did in the first 3 weeks of July, and that is not unachievable mate.

Mark Lee

The tonnages and the prices are straight out of the RNS mate, if anything I have underestimated with the tin as the spot price on 21st July was $17485 mate

Nmh19

In my old school if you took the Micky you got caned, in fact as far as the deputy head was concerned if you simply looked at him in what he deemed to be the wrong way, you got caned !

Tin rose too $16847 during the quarter and higher still in July but let’s presume 39 tons at $ 16847 = $657,033.

So by my reckoning from the 1st up to 23rd July our income was $342,720 + $657,033 = $999,753

That’s $247 short of $1 million

Safety

WRES shipped 20.4 tons of tungsten and 39 tons of tin from 1st July to the date of the RNS.

Tungsten was $210 per mtu, we get 80% which is $168 so that’s 20.4 tons which is 2040 mtu x $168 = $342,720.

Tin

Nmh19

Our day will come, as you suggest, hopefully sooner rather than later mate.