Member Info for goingunderground

OMR. I was on the last one in September. Here is my post at the time summarising my thoughts
3rd Sept 2020
"My reflections on the call today having pondered and processed.
1. Masterman took the necessary step recently to lower expectations until the middle of 2021 earlier in the week. I think this was a relief for him and he looked at ease and comfortable on the call today.
2. Masterman now needs to step away from this for a sabbatical and let Pablo provide any updates. He can work away in the background on finance, but his public facing reputation has not been great, he needs to distance himself
3. As an investment right now, its not for me. There will be no GREAT news this year, maybe some positive indicators. Interest may return in Q1 next year, Heavy LTH will hold, warrants will dilute and Atlas funds will be drawn down producing further warrant issues.
4. Its likely that this will be range bound between 0.1 and 0.15. 0.15 has been a trigger point for sells recently and I see no likely news that will accelerate the sp past 0.15 for any long extent likely this year
5. The call was a valuable medium for communication and hopefully will be repeated as promised.
6. Masterman did not like the question on his renumeration. He was very uncomfortable with it. Lets hope the renumeration board tackle this. (If they haven't already)
This is all just an opinion, everyone has one. Often they differ, but this is mine. Good luck."

Will you be joining Troajan ?

Calm down OMR, Its bad for you.
No point in asking questions, the answers are meaningless. I suppose a question would be "Is it correct you have taken no personal benefit from WRES last year and will not be deriving a benefit this year" That's a squirmer
Anyways, the pubs open on Monday, there are better things to do than listen to endless waffle

Thanks OMR. I'm not an Investor remember.
Whatever is said is matterless unless he provides production numbers for April and that is unlikely. Promises of yet more jam tomorrow will be most likely.
None of the investors will have the gonads to ask a difficult question even if they get the opportunity.
Utterly pointless IMO

" I understood the original plan was to reuse the old concentrator ?"

They weighed it in for scrap when they couldn't find anymore money down the side of canteen sofa, Perhaps ?

You can ask in the Investors Q&A

You're welcome Rod......

Simples Waspy. Just read RNS's

"W also confirms that Michael Masterman, Pablo Neira and Paul Hailes will host an investor presentation and Q&A, at 12pm on Monday 17 May 2021. Investors are invited to register their interest and submit questions to wres@almapr.co.uk."

Maybe they are expecting to pick them up at a lower price, they are professionals after all. You'll find out after the customary delay in notifying the market if they took your advice

Sleeven.

Yes. They will receive 56% of Tin price less processing fees.

He paid 9.599 Timed at 9.57

Sleeven. Your interpretation is incorrect.

You get paid for the contained metal (Less a processing fee - Smelting) 473t of concentrate of which 311t was Tin
473/311=65%.
They get paid for 311t @ Whatever tin price is at the time. Then in the case you are explaining the processing costs are deducted that were about 6%

Not sure why there is a discussion about AFT on the WRES board, but if its to explain the concept, then there you are

"or you could buy into 500% spikes,like gug recommended?in march" Rubbish. As usual. Dunno how you lie straight in Bed Troajan

Steve. Good news if you are feeling crazy. Open price looking to be lower than yesterday. Smidgens of Red.

SteveBT. Do read the Shard report fully. 23p is based upon "Forward EBITDA" Not based on the shocking numbers of Q1 alone.
The people that have their head stuck in the sand have followed this down from what would today be the equivalent of 60p they have a invested interest to try and push the value back up.
Read the fundamentals and do lots of reading old RNS's before parting with your cash so you fully understand where this was meant to be now and the trajectory it has taken. Either way, do as you please of course

Dreamingof. Looks as though, despite holding more shares than getinthere, you've made his filter list. Congratulations.
Amazing how he can comment on things he cannot read, true insight !

Steve, Getinthere started off very well then went downhill in his synopsis.

"The above is all factual, the current situation is that the plant is now working very well, tin is more than $10,000 per ton higher than expected, tungsten is about $18 per mtu (that’s $1800 per ton) higher than expected and is forecast to rise, we expect to be mining from the high quality area by the middle of the year and are forecast to increase production markedly in each quarter."

" the current situation is that the plant is now working very well,"
There is nothing to suggest the plant is working well. Last production figures for Q1 where terrible. Possibly because of the flooding but until production (Not shipped) for Q2 is available, it is impossible to say

"are forecast to increase production markedly in each quarter."
No such forecast exists that breaks down each quarter. It is just hope, not forecast.

That he holds a large number of shares is undoubtedly true, but he is circa 70% down on them. He holds because he does not want to crystallise his losses. (and believes that WRES will succeed)

Now, the plus point is the price is fairly low, thats because of all the uncertainty, lack of production and a lack of trust in what Masterman states. He has a history of Over promising and under delivering. That the price is low you might think that is ok. However, there is no news likely to come that will move the share price in the next few months. Troajan calls it 50/50. I'd probably call it 80/20 where the 20 is WRES.

There is still much to unfold here. Debt will continue to rise through the year, additionally there may yet soon be a placing/debt rise but if the PIK continues that will add a further $6m this year to the debt pile.
Good luck.

Man walks into a Mercedes dealer. "Shall I buy a BMW or a Mercedes"

Troajan "you get the same revenue,from the old 200t per month.....to the current 150t p/m"

What is this 150t a month you quote ? The recent Shard report is based on 225t/month from 2022 onwards. I accept that the high price of tin will provide benefits, but not to the extent of a reduction from 225t to 150t per month. Thats madness. But, as some who quoted the OPEX at $1 per mtu, its understandable.

I'll ignore head the resident ostrich with his head in the sand. Passing comment on things he hasn't read. Rubbish as always.

Geng you said "Wouldn't it make sense to pay them off out of the grant - watch this space I reckon?"
The grant money has gone. It was security for a bank loan. The bank loan has now been settled with no surplus remaining. The £250k that remains unconverted could definitely be got rid of from other means.

Getinthere.
For completeness, for those numbers to be achieved it also requires production of 2700t of concentrate pa (675t per quarter, 225t per month)

Best results so far 20Q4 133t. A 5 fold increase is required.

Troajan. "getinthere....and opex at $1.03 mtu...including bi product....when in full prod."

Do you even know what you are typing these days. More comedy.