Member Info for K3VMC

Just for perspective, this is an extract from an ORM RNS, October 2015!

"Following receipt of the initial $25 million equity contribution towards the end of June, Q3 has been a very busy period for Ormonde as the Barruecopardo Tungsten Project moved into its development stage.“

Four years ago, they raised $25m. Now the plant is largely complete, but they are moving 80m overburden to try to access ore.

Anyone who thinks our board and management ha not performed miracles with LP needs to get a grip on reality.

BIG times ahead.

L200, what is ORM’s projected ebitda at $200/mtu?

£12m and £16m ebitda. Sorry again! Was correct first time round.

Doh!

$12m and $16m ebitda, sorry!

A P/E ratio of about five gives a sp of 2-3 times today’s sp.

Tungsten concentrate prices won’t be down here for ever!

Good question. I sometimes forget to ask myself that!

L200

https://wresources.com/wp-content/uploads/Shard-ARC-WRES-31-7-2019-1.pdf

Shard note, figure 8 has ebitda of £12m and £16m for $200/mtu and $250/mtu, over the long term.

The BlackRock debt will be renegotiated pdq.

DB, of course they have evidence of low costs!

Fixed price for drilling and blasting.
Fixed price for mining and trucking.
Known power costs for plant operation.
Ample water available on site.
Cheaper manpower than China.
Product paid for at the mine gate.

Just what costs do you think they DON’T have a handle on?

Troajan, I sold bucketloads of Bushveld at sub 2p.

NOT selling wres!!!

I have no desire to score points over ORM either. It looks bad there.

TT, stick with ZZZZZZ. It makes much more sense than anything else you post.

:-))

mogwhy covered that already. Plus, we will refinance at a much lower rate.

ORM is toast. The buckfast is coming my way.

Sorry.

TT

ORM is a lot further down over the same period.

Think yourself lucky that WRES owns 100% of LP, has other assets and is mining ore, not dirt. We will be making profit from LP, while other W mines are being mothballed or going bust.

LP WILL be a money fountain. You only need one money fountain.

You just have to wait for it to be turned on.

jdstandard

“This way we have a chance & don't think Oaktree would be in if there wasn't that.”

Oaktree have every chance of owning 100%.

Sorry.

Tungder, are you really invested in ORM?

We need you on the Wres board. We need your comments on the CEO’s share purchase. Everyone likes it over there, so they require a touch of your jaundiced psychology.

Exactly.

The difference between IIs and PIs. IIs don’t pore over every trade, or go into ZZZZZZ mode when there has been no news for a couple of weeks.

Safety, the MCC being complete lets them start the commissioning.

Mechanical completion of the plant is definitely worth a RNS, imho.

If it weren’t for the others, I’d be in fine form!

They’ve had the MCC on site for two and a half weeks now. They also had three weeks to sort out the cabling before it arrived, so it really should be completed just before lunchtime today.

Time to commission the concentrator!

I know Kev, but all this waiting is bad for my schizophrenia.

Where has that nurse gone with my meds?

Nearly, k3.

You have to be “sensibly patient”, remember?