RE: Corrected post23 Sep 2021 09:31
Well, well, well! Looks like somebody had my previous reply removed, so here it comes again. Can anybody think of anything wrong with it? Did it just offend someone’s ego? Or their agenda?
GUG
“ Instantexpert - Your statement about a 20% reduction in Sn is incorrect but to the others who dismiss the smelt figure, I'm sorry but you are wrong. It is a "processing charge".
Ok, so wres produces the tin concentrate, then sells it. That’s it. End of story. Concentrate on lorry, out of gate, wres gets paid. Wres has NOTHING to do with the concentrate post sale. It is simply silly to suggest otherwise. No wait! You show us anything in the Shard report to that effect and I will apologise to you. I think you just make these things up.
“So, once you get to 100t a month of combined production. Working 24/7 on the higher grades and with less time between shifts, how do you then ramp up to the stated 257t/month (combined) target production from LP alone. Geng would call it a "gap".
You improve the processing circuit and process more rom. I don’t know if that will do the full amount, but I really could not care less. Profitable and cash flow positive are my two objectives, followed by refinancing.
Shard report states that at production of 1181t pa (100t a month) combined concentrate production the OPEX is $248 per mtu. The current revenue at the higher selling prices are $156 for W and $180 for Sn (I've not included the smelt charge to avoid further haggling). So based on these numbers and the achievement of production targets It is still making a considerable nett operating loss. It is spending money faster than it is earning it.”
No it doesn’t. You misrepresented these figures already this week, but I let it go. I don’t like interacting with you, but since you repeat them, I feel obliged to correct you. Look at page six of the Shard report.
1181 is NOT the production figure, 1,181kt is the ROM. Production for 2021 is there at 682 dry metric tonnes of WO3, which looks like being surpassed, based on current reports. This translates into 44,759 of tungsten. Using a total open of $11.2m, opex/mtu tungsten is $248, but you failed to account for the tin credits, which gives a net opex/mtu of $199.
To summarise, you have invented a smelting cost, confused 1.18million tonnes of ROM with tungsten production and overrated the opex/mtu by 25%. If you cannot read and understand such a basic table of data, why are you constantly talking down to investors who actually know their stuff and can do the complicated stuff, like read and do sums?
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