Member Info for K3VMC

Safety, I cannot believe the amount of work that has gone into getting that plant up and running.

A complete tour de force.

Well done Wresources!!!

*spot!!!!!

Did you spit that this blast was in the higher grade area pointed out to us on the trip?

Also, there were several other benches that had been cleared before this blast?

Looking good!

DB

Ok, I make that three questions. I’ll try again.

"So, 35t minimum before then end of the month(including stockpile), generating $7m revenue.”

No, I don’t think it will be 35tons in December. I’m happy to be proved wrong, of course.

“No need for further debt ?”

Well, with the benefit of hindsight, I believe there is a need for further funding”

“Would you agree ?”

No, I would not agree

“Anything less would be a failure?"

A failure of what? To stick to project timescales? I agree 100%.

A failure to build a world class mine, bring it into production and make a fantastic return for shareholders? My view is that will happen by Christmas, but I will be happy to update you later.

“though for transparency I have corrected a spelling mistake”

Anyone can make a mistake. I knew what you meant, which was the important thing.

If you still think I’m avoiding a clear answer, I can’t help you any more than that, sorry.

DB

“I note you didn't give an answer to a simple question. Something you have indicated as the action of a "troll"”

What question was that?

No warrants this time!!

Heck, I’d lend them €1m at this stage in the game. That, plus a few million in December sales gets us over the line, IMHO

“La Parrilla and Régua have the potential to gross $80m (4,000 tons WO3 per year). I make that $40m at today’s tungsten price, implying a mcap of $250-300m, compared to $25m now.”

My apologies $40m ebitda.

DB

“So, 35t minimum before then end of the month(including stockpile), generating $7m revenue.”

I agree that 35 tons is $7m.

“No need for further debt ? Would you agre ?”

Possibly, but I don’t know what plans the CEO has.

“Anything less would be a failure?”

Everything is relative.

You choose to criticise the CEO, the team and the suppliers for not sticking to project timescales. That gives you gratification, in some form or other, known only to you.

I choose to praise them because they will bring the mine into production and benefit me financially. I think my gratification is far easier for most on this board to understand.

La Parrilla and Régua have the potential to gross $80m (4,000 tons WO3 per year). I make that $40m at today’s tungsten price, implying a mcap of $250-300m, compared to $25m now.

I’m happy for you to provide alternative figures, but I’m not that interested in debating them.

DB

“I do dispute your guess of 10-30t for December though, its a very short working month 24hrs shifts should they happen , or not.”

I imagine that they have worked the ore since they blasted it on Monday, so December + five days.

My point was not about the absolute grade. My point was that they will have a measured grade to compare against the drill results for that bench.

I note that you disagree with my “guess” of 20-30 tonnes, including existing stock, but with little concern.

10,000mtu for December, so about $2m. Plus whatever they have stockpiled. 20t? 30t?

Once we get the actual WO3 production figures for the 90k tons of ore processed, we should get a better view on the percentage concentrate in that bench.

Once a troll, always a troll.

DB

“Nothing has changed.
Good night”

Well, the plant is commissioned, production has started, we have seen product being produced at pace, and we are moving from day shift to 24 hour operations.

The good news is that you are almost in profit with your £33.33 buy. I have no idea of your costs, of course.

Good ‘ere ‘innit?

:-)))

Joey, more like $50m, sorry!

A ton of tungsten weighs exactly the same as a ton of feathers.

The important thing is that we have 90,000 tons of ore to process, which is about 10,000 mtu, or about $2m. That should hit our bank account in the first half of January.

Necesitas solo una fuente de dinero!

Muy bueno aqui, verdad?

NMH19, three days after it leaves LP. Please stop ramping!!

I haven’t posted here for months, partly because of boredom with trolls, but mostly because any progress was always going to take time, to find the right partner and commercial terms.

The efficacy and safety profile for Lupuzor was never a doubt in my mind.

Very happy to see my substantial paper loss turn into a very reasonable profit, but I will be holding until this blockbuster realises it’s full potential.

Nolupus? Pah! No words to describe him.

“We are pleased with initial concentrate production grades, which we anticipate will continue to improve as we move up the ramp-up curve and transition to 24-hour plant operations in December."”

Our ramp up looks like it will happen well within six months.

Serious production, serious income.

The plant is complete, commissioned and producing tungsten and tin concentrate, but you are worried about funding. We have very different risk/reward profiles, but I can see your point.

Let’s just imagine, for the sake of argument, that tomorrow Mr Masterman tells the market that he has borrowed €3m at 5% for a year, come out of a closed period and bought £100k at 0.5p. Let’s say the market goes crazy for news and the sp rockets by 7%, so the sp is still under 0.4p

Would buy in then, or would you say it’s too risky for you and you want to see a full year of production, before you would be confident enough to buy in?

This was always going to happen, in my mind at least. It is just another milestone on the road to becoming a profitable, mid-tier miner. Sometime soon, we will get the few quid we need to get the ramp up finished. Following hard on from that, we will be told that we are cashflow positive, then at full production, the that the crusher has been moved to Régua, then that production has started there.

At some point, maybe 2022/2023, we will get that maiden dividend.

That so many people ever doubted this is a tribute to the persistence and quality of the trolling that has happened on this board for years. They did a fabulous job of helping to keep the price down.

$20m ebitda for FY 2020 is an achievable target, which is roughly the current sp.

Anyone think a profitable mining producer will have a p/e of 1? Not going to happen.

La Parrilla will be Europe’s biggest and most profitable tungsten and tin mine, as predicted by Mr Masterman.