Member Info for K3VMC

Richard, I’m sure you know wres well. My original post was just to point out that one of the 1.6m sells was a buy. Same for the other matched “sells”.

Richard, we are just sitting on support, waiting for the news to come. That plant will be ramping up soon enough.

Cash falling, obviously. It really doesn’t matter whether you think it is falling hard or not, since a placing will be required sooner or later. That is what the aim market is for.

The extent of dilution will be relatively insensitive to any foreseeable sp change, imho. It is just a matter of when and by how much. I learned my lesson with junior miners. Best to invest AFTER funding and before production.

Gla

One is a buy.

Stealthy, I’m sure we all have opinions on Brexit, but I’m not going to either worry, or argue about it. I voted in the referendum and I will accept whatever happens. If I don’t like what happens, I will make another plan.

If I were in Trump’s job, I would suck up every gramme sold by the Chinese. It was naive of Clinton to run down US stockpiles.

Stealthy

“What manufactured goods could you possibly buy that is 100% British content? I would guess none”

I think “none” is probably an exaggeration, but the more “non-British “ the product is, the more expensive it should be, because of punitive exchange rates.

No harm in trying to buy British at any rate. Support the economy, reduce unemployment and benefits payments. What is to not like?

I don’t know what proportion of stuff the buy from Europe, but they should try sourcing parts from the UK.

Time to start making steel again.

New tractors, made in Basildon. Bet they get bigger orders, now the pound is cheap.

https://www.ft.com/content/5339be7e-5413-11e1-bacb-00144feabdc0

Attilla, I have had many WRES dreams. The projects we already have could get us to 3p, imho, depending on the tungsten price. Both tungsten mines are open on all sides, so who knows what grades are in the surrounding areas?

Once LP is up to speed, there may be other opportunities, on top of Régua and Sao Martinho. Certainly a lot of mines operating in Spain and Portugal already, so you would think there could be other prospects available to a financially stable mid-tier miner.

L200

Yes, the bet is still on! ORM has slipped to £14m. Wres still on £26m.

Oldskool

I didn’t say they were the same.

“Making money, making profit - whatever you want to call it. We WILL be making money at this W price.”

I know you love to seek out a hair to split, but I really can’t be bothered this time.

Sorry. Maybe tomorrow.

Er, no.

If I want to compare WRES with ORM, I will.

Yes, of course we will both be in trouble if the tungsten price continues to fall, but ORM will hit the buffers long before Wres. ORM is still shifting waste, to try to mine the ore.

At least I have the good grace, NOT to go on ORM and criticise it there.

L200

“Wres has just deferred interest payments, what does that tell you ?”

That tells me WRES is conserving cash during commissioning and ramp up.

Wres is crushing ore, not just shovelling dirt, like ORM, whose opex will not be as low as $94/mtu.

Oldie

“How do you know WRES is doing that?”

The RNS says we are putting higher grade ore into the crusher.

“ Do you mean earning money, as making money implies profit.”

Making money, making profit - whatever you want to call it. We WILL be making money at this W price.

L200

I would be far more worried about ORM than WRES.

At least WRES is moving ore, not dust. We will still be making money at these levels, while ORM will be scratching around for another loan from Oaktree.

Mother, I did not say I didn’t know of a Way sticks could be manipulated. What I said was:

““Unknown investors “? We know where the majority of shares are held. Why would, how could, these known shareholders suppress the sp, to benefit someone who isn’t already invested, but might in future? ”.

If WRES has been manipulated lower, so “unknown investors “ can buy, why are they not buying? What are they waiting for? The next news will most likely be the completion of the concentrator and the start of commissioning, or the Jorc for Sao Martinho.

It is the known investors who are buying at this level.

Of course price manipulation happens. What do you think BUR suffers from?

Must be getting close to completion, I would think. They were sorting out all the cabling, while they were waiting for the MCC to be delivered.

Jaf’s explanation is much more simple and logical.

Full production has been delayed, some would say not unreasonably and others would say both disastrously and terminally, and opex figures cannot be proved until the are proved.

I can’t say I care about the sp now. If I had significant spare cash, I would buy more. Too bad that I haven’t.

The “op” is very simple, with known fixed costs and easily defined variable costs, based on tonnage, so the “opex”, although unable to be proved at this moment in time, is sufficiently dependable for me to look forward to the inevitable rerate with complete confidence.

All imho, of course.

Mother

“I am just of the opinion that the SP has somehow been kept artificially low in the run up to full production for the benefit of unknown investors to maximise their returns on the inevitable relate that will come soon.”

I am intrigued to know how that could possibly work. I’m all for a good conspiracy theory, but there has to be some logic involved somewhere along the line.

“Unknown investors “? We know where the majority of shares are held. Why would, how could, these known shareholders suppress the sp, to benefit someone who isn’t already invested, but might in future?

I apologise. I cannot adequately form logical questions on that theory, as I don’t understand how it could work.