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I',m out!

£400M was the EPC.

If they are going to own 29% of EML after this, how much will they own after the project is fully financed?

840,000 bought and delayed from yesterday.

"October production was probably not great, they had a lot of heavy rain"

There was 1 day of heavy rain in October, Saturday 30th. 2 days of showers (1 either side of that Saturday) and the rest of the month was dry and fine since 29th September.
Dry, chilly and fine ATM.

Safety
" I think production will improve from here on in, but I think not much improvement from October."

Do you have an indication of what October's production was?

Zubu brothers article:

"Prices of risky assets generally increased since the previous report, and, in some markets, prices are high compared with expected cash flows."

No danger to WRES then ;-(

The SP is more than likely going to be steered by further funding specifics, if required.
To rise this month, some extraordinary tonnage needs to be reported for October's production.

Sleveen.

Apologies for late reply, I am out of signal range mostly.

By my calcs, a 32t load of 10% grade crush would produce around 5t of shipping grade concentrate.

IE

Thanks GUG
Missed that.

Stevebt

I did not write that. It was a post copied from the Advfn bb.

Safety,

I have it,on fairly good authority, that the maximum load capacity for a road haulage tipper truck is 32t. This is for a 48t gross weight, 16 wheel vehicle.

Q3 saw 168t WO3 concentrate produced from 289Kt ROM at La Parrilla, which equates to 1,667t ore for each tonne of concentrate.
Regua ore is expected to bear three times the amount of WO3 to La Parilla, so we can expect 1t of concentrate from 555t of ore.

That would take 18 trucks delivering on a 1200km round trip, plus tolls, to include in the AISC of one ton of the shipped product.

Do you see this as feasible or will Regua have to partially process their ore on site before the logistics of shipping to La Parilla become a reality?

IE

Not Ballymore Resources then?

Ok, perhaps I have him confused with someone else they're talking about on the Advfn WRES bb.

"Ask toejam how much he lost in BMR. That was his big ramp before it ran out of money, financing options and eventually delisted.

Anyone see a pattern?"

And BMR!
Were they miners?

"that's his old job,refinancing/accountancy"

Indeed, MM graduated in Economics at Sydney.
He was CFO for Minara (Anaconda Nickel) for five years and said he was overjoyed when Pablo Neira took over operations at La Parrilla so that he could devote 100% of his time to the financing side of the project.

That is Fortescue Futures Industry, for clarification

https://ffi.com.au/

MM is CFO of Fortescue not CEO.

Anyway, if you read the RNS from 10th March 2020, first blast happened in February that year and mining operations are already underway.
If you believe the WRES website is up-to-date, then we are still 'on track to targeting first ore' at Regua and if you prefer the latest information, it's not yet off the drawing board.

That's what I like about this company: they provide news to appeal to everybody's investment strategy.

IE

"Portuguese offialdom is equally labyrinthine"

That was the sole reason I moved to Spain. Yes, it is antiquated, illogical and self-defeating.

In 1996 Richard Branson organised a meeting in Lisbon with a dozen or so of Portuguese wealthiest business figures in order to help bring them onboard into his expanding global business empire at the time.
He flew in to it but not one person turned up.

Very proud and stubborn, but equally admirable for their high moral standards, are the Portuguese.
Everything like this takes ages though.

IE