Honestly, if they deliver anything under $100 average production cost long term on this that would be a remarkable achievement. I actually am sceptical about the lower figure which has been mentioned but do believe that WRES is likely to be the cheapest tungsten producer in existence and at a significant scale too. Not much not to like...:)
Kev - They won't be processing at anything like $94/mtu right now I'm pretty sure of that. It is not in the public arena what the current processing costs are on ramp up. The $94 is an average anticipated cost when we are much further down the line with ramped up production volumes going through the larger equipment as an earlier poster correctly alluded to. Looking very good here though on many levels.
GLA
Some larger trade sizes appearing here 9m, 9.5m. Don't often see them. c.£50k trades on an AIM minnow???
Someone's been doing their homework. A nice place to be buying into a near-term major earner.
I was getting bored of 42 PREM is a turd (not JORC'd) and in a bad geographical location WLFE was far too costly to develop ORM Board never backed their own comp and Oaktree collected THR management were shocking I told you it was best parked in WRES years ago and think I'll still be proven right in time....wish I was just coming across them now though, eh? GLA
I love it when a plan comes together. Really happy we are dealing with Metso and Almineral and we have experienced hands on board. Enjoy the site visit all. Should be a profitable place to be for years to come. GLA
Nice :)
I think he was last seen watering the rose garden. I think that one's proved a bit thorny but hey this is AIM. Point and shoot. Genuinely, WRES looking very very good albeit timescale slipped dur to prolonged weakness in metals prices which dictated funding options. At least didn't get taken down the garden path for 70% of asset by Oaktree and I was always deeply sceptical about the level of debt the wolf has to service. That fairytale has only got darker. Brothers Grimm tale? To be fair to tunger Almonty has proven better than I thought but I think Sangdong will prove a stretch too far. Certainly very risky. As for Premier nothing is premier about where they operate and those that bragged about the small number of shares they had in issue and whatnot are not able to do so now. Was always suspicious of the loose classification non JORC'd resource and the reported grades and that has bourne out. All that said, would have expected WRES to be sitting prettier than it is share price wise ATM, so risk reward is still top drawer here. Probably the best it has been with funding now in place for LP. GLA
Having a look in here, sipping a Jamesons and playing the long game. Loaded but one full barrel dismantled from my old gattling gun courtesy of legal shennanigans. No idea what she done with them, stick or twist or turn 'em into handbags. A sobering experience to which I raise my half full glass of Jamies, smile and look forward to the fruit beginning to ripen in the Spanish sun. No-one sems to have mentioned it but maybe this transfer malarky is something closer to the Masterman tree than even Hansource. 2 of the largest shareholders here are man n wife. Maybe it's a continuation of what the last RNS hinted at. Just a thoought maties and I am as happy to be proved right or wrong. Should find things RNS'd soon enough anyhow. Good luck all
Safety, picture this... https://youtu.be/uGP2oJnjyVw
Waiting for Herring...😀
Great to see Indian State controlled business for GDL. $15m from 1 rig. I can see more Indian operators giving GDL business here. Something meaty from GDG would ignite this again. Get some whilst it's bargain basment time GLA
Whomever it was that was selling out at the recent lows must be dog sick
Oh yess - it's been a long wait but a really significant contract in India. This had gone so low, could be multibags from here. GLA
This was screwed down so far it's good to see a little pressure being released on continued upward momentum. Long way to go though.
No Flundra, I'm not saying that. Just making the point about the age it has taken to get to the point of being able to say commissioning is due to commence in mid 2018. So ORM will be looking at c. 12 months of commissioning and ramp up to full production from say mid 2019 if construction etc happens to timescale. I am not doubting that W prices will be substantially higher by then but there are other producers likely to come on stream in that sort of timescale. The major positive was the derisking of the project from resolving the land disputes. That is excellent news.
Good news on the land ownership front (they can now mine). Commissioning slipping another 6 months (to commene in mid 2018). It'll be nearly 20 years getting this project to production from first licence award. Nothing produced to date. It's not good enough really is it?
May be a big background buyer here? About time this started it's path North, was so oversold and unloved. Got to be a strong buy from these levels. Another contract or two and this should start to look really good again. Multiples of the current level IMO GLA
Looks like it isn't going any lower than the c. 2p low seen in October. Be good to see more volume backing a rise but starting to look a little more positive with new contract landed. Be good to get more news on India drilling. Gotta be a good BUY from these depressed levels I would have thought. GLA
RNS out, new contract for 5 horizontals in China, drilling commencing shortly.
Debt financing RNS just in. Not showing here yet. Further $3m US from GFI, 7%. Comes with Warrants at 5p GLA