Member Info for K3VMC

Jaf

“Last September after you visited the holy site, everyone came back with the glowing reports that WRES had employed the best engineers around, had ordered the best equipment from the best companies, and of course had MM as the trump card.”

I agree with you.

“Now nearly, a year later, the project is running around 6 months late and yet we were told that it was all so simple.”

No, we are not running six months late.

“ I have not been told by the company of everything that has gone wrong to produce this situation and I am not a mining engineer so I probably wouldn't understand the implications anyway, but the net result is that WRES is around 6 months late.”

Wres has told you that allmineral did not order the steels in good time. The MCC arrived late. I am not a mining engineer either, but I can understand that ordering steel late would ****** a project. I suspect that you can grasp that also. In any case, the project is NOT six months late.

“And you ask me what can go wrong with the costing !”

Yes, I am. Costs are based on metrics. Either cubic metres for blasting or tonnes, which equivalent to cubic metres, for mining and trucking.

So, where can you see a problem in the agreed per cubic metre costing?

Jaf

“The issue has always been can WRES produce what it says it can produce at the price it says it can produce it at.”

In terms of industrial processes, this must be one of the simplest to cost out.

Drill x holes per cubic metre and use y kg of explosive.

Digger and trucks paid per tonne of ore.

Ore trucked a few hundred metres to the crusher.

Crush ore to size, jig, spiral, shake, dry and bag.

Buyer collects at mine gate and wres gets paid after three days.

Borrowing costs are well defined.

Where do the mystery costs come from?

Seriously Jaf. Don’t just ignore this one. What costs do you think they have missed. I promise to pass your concerns to Mr Masterman.

But your post is accurate. Even if the market is not interested, yet, and the doubters think the company has a way to go, the believers think that this is on the way to multi-bagging.

Believers getting in before the disinterested and the slow.

Jaf, I asked you before if you were happy with the progress in the RNS. You ignored me.

I take this post as typical Jaf never providing a simple answer to a simple question. No offence meant Jaf, but don’t imagine the board doesn’t notice your obfuscation.

NAV £130m.

Stealthy, the in-house model was agreed by Golder. On top of that, SRK also holds both opinions, from two of their own geologists.

Both assessments are honest, just different. Several investors have suggested that more work needs to be done, trenching, drilling, or both, just to get over this impasse. I’m happy with spending more money to get an accurate JORC.

Jaffaman, the site looks immaculate and huge, as you say.

You also have to remember that the resource is open on ALL sides. Safetyman or HBob May correct me on this, but are there not plans to go down 100m? Or was it more?

TT, SRK we’re hired because Golder wasn’t getting the job done.

Great job all round. Not.

We got the LNG gensets in as it was cheaper, easier and quicker.

I’m guessing they will get more genset capacity, if they need extra for T3.5.

GIT, I was using dollars, $210/mtu apt and $20k/tonne tin. Didn’t look up current tin price, I admit

I agree Jaffa. The interview is very clear, I think you will find.

Shard has about 3,000 retail customers. They were not given the research note , but now know that it can be found on the wres site.

stealthy, that is July production, as explained in the proactive interview.

Northman1, spirals are like the old helter skelter. Pre-concentrate is washed in at the top of the spirals. As this falls down the chute, the lighter material is thrown to the outside, while the heavier material stays on the inside of the spiral. At the bottom of the spiral, there is a thin strap of metal, which channels the metals towards the shaking tables and the rock into a pile for tailings.

Very simple, low cost, efficient separation.

GIT

“Someone posted a ball park figure earlier which seemed about right to me it was 250k”

I make it $340k.

safetyman, exactly right.

Pete

The RNS says “16t Tungsten and 3.8t Tin”.

No need to conceptualise that. As for sales values, you need to wait for accounts.

Jaffaman, if you listen to proactive, he makes it clear that it was produced in July.

Could be using the new concentrator as early as August!

Muy bien!

NMH19, I guess I just had too many kids. My impatience overload circuit may have blown.