Member Info for goingunderground

Getinthere, SNG rose on the Global Pandemic. I think it came without much planning and skill from the company. At the start of 2020, it had done nothing except trade on all time lows.
https://www.google.com/finance/quote/SNG:LON?window=5Y

nom. This has proven to be a great punt

https://www.google.com/finance/quote/TUN:LON?window=1M

6.2p. I can understand why you think he has moved on

The detail is not known. "Once the amendment to the agreement has been finalised the Company will update the market on the number of warrants to be issued.“
There is then the matter of cash requirements for all of the work that Masterman has alluded too.
Dreamingof is right to have some concerns.

6.4p Mid incoming IE

I suppose it's Panto time Sleveen ;-)

280,000t of ROM have produced 168t of W Conc in Q3 2021 (Highest ever quarterly production on High grade ground)
FID for T2 was 2Mtpa producing 2700t of W Conc
At the current run rate, processing 2Mtpa ROM will produce 1200t of W Conc. That is a shortfall of 1500t pa (more than 50%)
So, whether it takes them 1 year, 18 months or 2 years to process 2Mtpa, the Tungsten appears not to be there in sufficient quantity. The recovery rate (already proclaimed as being high) cannot increase by that magnitude and 2Mtpa is the nameplate capacity.
Sorry if I'm pointing out the obvious. But there is a fundamental flaw here.
Before anyone says "Yes , but the price is higher" I'm not talking about the financials here, only the mechanical process of mining. Its not stacking up.

So despite the highest ever quarterly production and news of Mining licences being awarded. The sp has fallen 15%.
I suppose one should be just be grateful it wasn't bad news

OMR. When you win the lottery you can buy them back cheaper :-)

Sleeven "dressed up to look like something sinister is going on"
Interpretation is the responsibility of the reader. I'm not saying anything sinister is going at all if you are referring to me. It is recognised practice to show figures in whatever subsidiary suits the purpose. Take a look at any multinational as an example, they manipulate for Tax purposes. Other companies do so for different reasons.

K3VMC. Here's another interesting snippet, but I will let you read everything yourself. Pg 48

"PROFIT OF PARENT COMPANY
As permitted by Section 408 of the Companies Act 2006, the income statement of the parent company is
not presented as part of these financial statements. The parent company's profit for the financial year was
€3,902,000 (2019: Loss (€696,000)). Included within these figures are intra-group interest received of
€1,518,000 (2019: €1,298,000)."

Keep watching K3VMC.

K3VMC "That’s news to me. Obviously, you have nothing to substantiate that. More fud."

Your starting point K3VMC is page 40 (and onwards) of the 2020 Full year accounts.

"The Group financial statements consolidate the financial statements of the Company, Iberian Resources
Spain SL, Copper Gold Resources Plc, Iberian Resources Portugal, Recursos Minerais, Unipessoal, Lda.
Control is achieved where the Company has the power to govern the financial and operating policies of
an investee entity so to obtain benefits from its activities. The financial statements of the subsidiary is
included in the consolidated financial statements from the date that control commences until the date that
control ceases.
Joint operations are activities where the Group has joint control, established by contractual agreement.
The consolidated financial statements include the Group's share of the entities' assets, liabilities, revenue
and expenses with items of similar nature on a line by line basis, from the date that joint control
commences until joint control ceases.
Investments in subsidiaries are accounted for at cost less impairment within the Company Financial
Statements. Where necessary, adjustments are made to the Financial Statements of subsidiaries to bring
the accounting policies used in line with those used by other members of the Group.
All intra-Group transactions, balances, income and expenses are eliminated on consolidation.
The Group share of the losses of any associated companies are included in the loss for the year"

You can go on from there. Oh, and you're welcome.

IE. I'll go for 2 further, sometime this week and next. Possibly 3 unless they bury it all in 1
1. Debt to keep the lights in LP
2. Placing to raise cash for Regua
3. The elephant in the room. Blackrock debt servicing arrangements for the last 12 months interest (c $7m)

Can we see OPEX and CAPEX for this ?
Scant detail.

Safetyman. The figures I used (as stated) were the most recent 2021 Q3 numbers. All of which are on the higher grade ore.

The RNS on 9th August states:
"W regained access to the higher-grade ore in late June, enabling progress to be made in ramping up production in July. The mine started feeding higher-grade ore to the plant from 6 July 2021, processing newly accessed and existing ore, resulting in an uplift in actual feed grade compared to budget."

Savvy. Do the numbers.
280,000t of ROM have produced 168t of W Conc in Q3 2021
FID for T2 was 2Mtpa producing 2700t of W Conc
At the current run rate, processing 2Mtpa ROM will produce 1200t of W Conc. That is a shortfall of 1500t pa (more than 50%)
So, whether it takes them 1 year, 18 months or 2 years to process 2Mtpa, the Tungsten appears not to be there in sufficient quantity. The recovery rate (already proclaimed as being high) cannot increase by that magnitude and 2Mtpa is the nameplate capacity.
Sorry if I'm pointing out the obvious. But there is a fundamental flaw here.
Before anyone says "Yes , but the price is higher" I'm not talking about the financials here, only the mechanical process of mining. Its not stacking up.

Clue: The shortfall is 1500t pa W Conc. not 716t pa !

Oops, I made a mistake, but its VERY much in favour of WRES. I'll let someone spot it, at least I can't be accused of talking the numbers down ;-)

Savvy "The only part of the puzzle that's missing is the optimum thoughput and ore grades with 24/7 operations"

I think that is a fundamental requirement, quite an important missing piece..Also do calculate the ROM: Contained Metal ratio. Its not stacking up. Chasing impossible numbers.