Member Info for goingunderground

Guess who wrote this in June 2019

"Another day closer
05 Jun 2019 06:16
SP= 46p in todays money
It is now just a matter of time before WRES begins to move upwards and heads towards an SP that reflects the outstanding profits that will be generated by full production from la parilla, in the meantime we will get our long awaited news on the gold the impact on the SP of which will be interesting to see.

So many long term holders have waited for so long that inevitably a little bit of frustration has from time to time set in, but the long wait will soon be proven to be worthwhile, onwards and upwards from here"

Are you CARP fishing ?

Feels about the right temperature for a cash raise Getinthere.

Sometime in the coming week.

A red friday ?

You are embarrassing yourself again Troajan.
I've not mentioned OPEX of $120/30 mtu as we are in 2021 were the OPEX is closer to $250 mtu (if production is 910t + for the FY)
Based on producing the targeted 900-1000t for the FY. With revenues of $156/mtu and Opex of $250mtu you can see why there is little appetite for this share and also why Tungsten mining has been unsuccessful, leading to company failures. This is also why I see the likelihood of a cash raise being required soon. Add to this the falling tin volume and its celar to see that money is going out of the door faster than it is coming in.

"well pointed out bud" I have no issue with posting facts, I wish you would try to do the same.

AFAIK, the company has not provided a forecast themselves.
In the Shard report prices were assumed to be $260mtu W and $23k t Sn. as an average over the FY21
Current prices are higher than this at around $300mtu W and $34.5k t Sn. I don't know what the actual average has been over the preceding 9 months but would guess an average over the Shard forecasts though its worth noting that the Tin ratio has fallen off as the W production has increased so far this year.

Disco your statement was "So worst case scenario on 60t sales is opex of 600k, giving an EBITDA of $336k."

Its wrong. The OPEX will NEVER EVER be $100 on 60t per month of production.
If you asked what the OPEX MIGHT be if this was producing 2700t W pa and 400t Sn pa. I would have given you a different answer.
Buy you believe what you want to believe. The Interim accounts for H2 will soon be upon you. and youve a whole 9 months to wait to see the FY results for 2021. Hope spings eternal and all that

Disco. The OPEX is not $100 per mtu.
Take a look at the Shard marketing report from April of this year. https://wresources.com/wp-content/uploads/202104-Shard-Capital-WRES-Research-Note.pdf
Page 7 there is a table. You can see in that table an estimate for 2021 based upon Total Concentrate production of 910t. (662W and 228t Sn)
The OPEX is stated as $248 per mtu. Irrespective of the sale price of product It costs the same amount to bring it out of the ground and process it whatever the eventual sale price is)
In broad terms, if WRES produce more then 910t combined then the OPEX per mtu will be lower, conversly if production is less than 910t then the OPEX per mtu will be higher.

Safetynan. You wrote at 10.59 "Hence, I always understand it to be we get 80% of APT price. You go ahead and twist as much as you want."

Can you explain what I am twisting when at 7.56 I wrote "The price is for APT and that contains 79.3% W Concentrate. Thats why you get 80% (79.3%) of the price"

You seem to be having an argument with yourself. Leave me out of it

Getintheres calculation is correct. Just the rational behind why its 80% is incorerect
Assuming $300 per mtu and 65% grade
$300 x 0.8 x 0.65 x No of MTU
20t = 2000mtu So thats $312k

Safetynan "under the offtake we get 80% of that price"
NO. Is it taking time to sink in? APT contains 80% (79.3%) W. The reason is not the "offtake" agreement. The reason is the end product.

"$268k a bag."

No. thats a Truck, not a bag. and its more than that as the price is $300 now not $250.
Do you have any attention to detail ? Actually, no need to answer

There are 2 variables in this . Obviously the price, the other is the "Grade" shown as 67% in your example.

Thanks Mullins.

So back in Early August when Troajan was claiming masterman had 20% I posted the following (11th August)

"Furthermore. Mastermans holding is being diluted just the same as everyone else. YES he has taken place in placings, but at 10%. So its mathematical logic that if you once held 17% but only buy into new placings at 10% then you will be reducing your holding.
The WRES investor page on their website has not been updated since April, which is shoddy in itself, as it does not take into the account the close to 50% dilution that has taken place since then. It shows 80m shares in issue when there are actually over 117m issued (Text from recent holdings RNS - Following Admission, the Company's enlarged issued share capital will comprise 117,506,851 Ordinary Shares with voting rights)
https://wresources.com/investors/shareholder-information/ This is dated April 14th
Since then Masterman has added 3.1m shares so his total will be around 16.5m or 14% or the total issued."

It is course a touch less than this now following dilution to Atlas and the CFO. Total number of shares issued is 119,431,959
Mastermans holding is now 13.7%

There may well be a discounted price to the offtake partners too, but Masterman said that you get the full market price in the past.

Thats correct Safetyman. The price is for APT and that contains 79.3% W Concentrate. Thats why you get 80% (79.3%) of the price
It is NOT what Getinthere said. He said that it was a 20% discounted price to offtake partners.
Everyday is a school day safetyman.(& getinthere)

The end product (APT) contains 79.3% W. (Rounded to 80%)

No Disco it isn't

Should see a tick up today based on that.

Troajan. You getting boring with your subject implying that 3 posters are indeed 1.
You should actually be directing your comment to Geng as it is he that is expecting an update by the 17th. Geng, for the record, Masterman said by the end of Q3 for 7 day working and then the last RNS reworded that to September. Thats anytime in September. Instant Expert when called a liar in the past provided photographic evidence that he had been to site, so I see no reason to imply that he is a "Fibber"