Member Info for K3VMC

That additional $10/mtu adds another $1.9m to full production ebitda.

If the price gets back to $345/mtu will mean an ADDITIONAL $20m ebitda.

$500-600k tungsten sales, another $1-2m short term finance from a Spanish lender, 0.5p subscription from Mr Mastermand and confirmation that the plant is working 24/7 could see the sp up to 1p+ on the day, a la EUA.

Just saying.

https://www.youtube.com/watch?v=xDFAKWTVe8k

I have no problem with 25-30 tons in December, as long as we go to 24 hour ops. If we can ship the product in December as well, the $500-600k cash will cover the cost of the Christmas knees-up.

The 90,000 tons of ore should keep the plant busy for 30-40 shifts, so sight of another blast at the end of the month would be good.

Distraction.

saothair, if you want to make a point, then please do.

SNP has missed 8 out of 10 health care metrics.

Scotland has the worst drug problem in Europe.

Scotland cut its drug rehabilitation budget by 50% this year.

Now, hopefully avoiding further personal abuse, which of those facts do you take issue with?

For once I agree with you oldie.

As a Scot, I object to all those anti-English voices.

Safety, I love Europe, but hate the EU.

There is a difference.

saothair, you have Jimmy Krankie running your health service into the ground and cutting the drugs rehabilitation budget in half, while Scotland has the biggest drugs problem in a Europe.

Please don’t worry about what Boris is, says or does. Not only can you do anything about it, but you have enough problems at home.

Sorry.

Mogwhy

So only lab costs and management costs are fixed, amounting to less than 10% of opex.

FYI, blasting is contracted out as is waste haulage.

Mogwhy

“Safety, it doesn't work like that, bud.
At 100 tpm the opex will be be closer to $200 per mtu than $100.
At 24/7 production, most of the opex is fixed cost.”

The FID is here https://wresources.com/wp-content/uploads/2017/09/WRES-Final-Investment-Decision-Report-FINAL.pdf on page 4.

Please look at the 9 items that comprise the OPEX and tell me which of those is a fixed cost.

DB

“ Can you really not see that your 10 bags is not going to come .....ever. Hilarious”

I can still see 10 bags, just on LP.

Enjoy the hilarity!

:-))

DB

“Well that depends on how much Tungsten is bagged up. If it’s only 100t I think that really will make people care.”

This is a ramp up phase. Getting to 24 hour operating is a milestone in itself and will improve cash flow on our way to 200tpm.

“The rampers are fast running out of milestone events. Finance, construction. Start, Completion, Commissioning, production, further finance and still it’s on it lows”

Correct, we are passing the milestones one by one. Indeed, I would be concerned if we had NOT passed them. The next short term milestones are 24 hour ops, cash flow break even, 200 tpm, get €5.31 grant and repay short term borrowing. If the WO3 price goes up as predicted, so much the better.

DB

“He’s not been very reliable has he ?”

When La Parrilla gets its first month of production @24/7, no-one will care. Getting wealthy will be remembered, long after late steel has been forgotten. Promise.

Kalan, it started with a reasonable discussion on getting to cash flow positive, then was twisted.

No-one suggested that 25tpm was profitable production.

Oldskool, if you are that clever, perhaps you would put some calculations up on the board?

No, I didn’t think so.

We were talking about cash flow break even.

What are you interpreting that as?

DB

“So why are they scrabbling around for cash K3 ?”

The CEO, I imagine, wants short term borrowing to avoid further cheap dilution, which I am grateful for, so asked Caixa bank for funds, which they provided. You call that scrabbling around, I call it borrowing.

“ If they can get $2m in revenue ?”

They can get $2m in revenue at 100tpm. They are not yet at 100tpm.

“ Their actions are looking more desperate as this financing debacle continues.”

Looks to me like they are making sensible cash flow adjustments until the fountain is gushing properly.

Not long to wait now.

Andy

“income from sales of $720,000 per month, which covers all of our outgoings.”

$100/mtu is part of outgoings.

GIT, the offtake agreement with the two customers is for 80%, but they will take all the product, so by your arithmetic, 40tpm is enough.

$2m per month.

Far more than break even. 25-30 tons sold would do that, in my arithmetic jotter.