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"it’s dry in Extremadura today"
Wrong again.
IE
That was, precisely, my point last week.
How can IR be EBITDA positive with none of its ore going through La Parilla plant?
And the 5M€ Junta grant was specifically for the IR project, not for Wres to use at will.
Safety
I do not believe that to be the case-:
La Parrilla has it's designated project notice at the site entrance, which states it is a WResources mine.
The southern extension had its own Junta del Extremadura notice which showed it being a separate ,Iberian Resources project, of 16M€.
Both signs can be viewed on the "garden nuns" Facebook page
IE
GET IN THERE
Can I change that to 6p or is it too late?
IE
GUG
Thanks for that
IE
GET IN THERE
If you are thinking of starting a sweepstake to guess the timing of the next RNS, please mark me down for tomorrow, Tuesday at 11:46am.
And the placing price at 7p.
Thanks
IE
Link to SXX article:
https://www.theguardian.com/business/2020/mar/03/sirius-minerals-takeover-at-risk-after-investor-rebellion
GUG
"There is a complicated web of subsidiaries and related inter subsidiary financial transactions."
That's what I was hoping someone could shed some light on.
Can WRES process ore from their 100% owned subsidiary, Iberian Resources, through the La Parilla plant and thus obnubulate the real production statistics for the whole enterprise by simply releasing figures from the WRES ROM ore?
Q3 saw a complete transformation in the IR mine site landscape: the original entrance has completely disappeared and the area is now hidden from the road by 15' high earthworks so that it now appears as if both projects are now accessed by the main WRES entrance (remember, the one with the car park outside the gate) ,making the IR territory an extension of La Parilla rather than a separate area. This must have incurred not insignificant costs on their part so, for MM to declare IR in profit, it would have necessarily required some significant revenue, presumably from sales.
My worry with this share has never been the potential of La Parilla, rather the ability of its management to turn it on its arrse, deliberately default on the debt and, simply do what Sirius Minerals (SXX) did, which was to hand it on a plate to a mining major for peanuts.
The willingness of Crux Asset Management to purchase 5% of WRES earlier this year @8p is the only thing keeping me in here now .
IE
IE
In the news today:
"Two thieves stole 45 bottles of wine, including an extremely rare 215-year-old bottle valued at €350,000 (£295,000), from a collection at an upmarket hotel and restaurant complex in south-west Spain, the owner has said.
The theft took place in the early hours of Wednesday, according to José Polo, one of the owners of Atrio, a complex comprising a hotel and a two-Michelin-starred restaurant with a cellar sheltering more than 40,000 bottles in the city of Cáceres.
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“They were professionals, they knew exactly what they were doing” Polo said after deciding to make the robbery public through a letter to customers and friends.
The suspects are a man and woman who spoke English and gave staff the impression of being a refined couple, who checked into the hotel and dined at its restaurant. They asked a hotel front desk clerk to serve them more food and when he went to the kitchen, leaving security camera monitors unattended, the man slipped into the cellar and stole the bottles, Polo said.
The couple checked out in the early hours of Wednesday, paying with a credit card and leaving with bags full of bottles."
Apologies for OT, but it is the weekend.
IE
GUG
You might well be right.
Has anybody worked out yet how Iberian Resources are EBITDA positive after only 6 months?
Saturday and Sunday in Extremadura.
Iberdrola supply 1.5MW grid facility to La Parilla since Q2 2019
Across the straits to Morocco ( or Melilla and Ceuta) still freight only.
I'm in Cadiz ATM and that it what it's being saying on the motorway signs all the way down.
It seems I have been married 15 years today so we're off to 'Lugaris' in Badajoz to celebrate.
I'd hoped for double celebrations, really annoying day, at least 7p held.
IE
About today.
Even Bitcoin 2% down.
Shame.
Northman
Power outages didn't seem to affect the plant downtime too much:
"Plant utilisation remains high at 87.1% compared to 88.2% in Q2 2021"
Beginning to sound like Donald Trump:
Misinformation?
Fake news???
Make Wres Great Again!!
Time to start the Xmas production guessing game IMO- liven things up a bit.
IE
And if the answer to my previous post is that La Parilla has been busy processing Iberian Resources surface ore, might that not have put constraints on the amount of ore being processed from the La Parrilla mine?