Member Info for K3VMC

The concentrator will be completed and commissioning started next week, if that hasn’t happened already. Blasting is getting bigger, with 20,000 cubic metres of rock in the last one.

The metso crusher is top quality plant, so the closer we can get to its 350 tonnes per hour capacity, the sooner we pay off Blackrock and start banking real profits. There are 49m tonnes of ore in place already, but the deposit is open on all sides, so those profits could easily extend well beyond the current mine life estimate of eleven years.

Nice dividends prospect and very exciting!

Thanks Jaf.

What will be will be, so let’s all chill.

:-)))

Ooh, well!

ORM IS £15m, WRES is £26m.

Let’s see which has the highest percentage increase by Christmas!

TT, no one asked why the live camera was stopped. Maybe because we were all choir members, I think, but nobody was interested enough to ask.

Sorry.

TT, they are buys.

They are not my buys. If I had that money right now, I would be buying like that. Exactly like that.

WRES sp is the wrong price. I get it, our buyer gets it and a few other investors get it.

WRES sp is the wrong price, but eventually that will dawn on Mr Average.

https://www.proactiveinvestors.com.au/news/details/223332/apollo-minerals-couflens-licence-cancelled-in-french-court-decision-appeal-to-be-lodged-within-two-months-223332.html

Troajan, grade control is done by referencing the drill results and they will be targeting higher grades, once the plant is at decent speed.

Long term, it averages out, of course. We don’t get to mine the stuff at 280m, if we haven’t mined at 250m.

Red, was that the Great Tungder?

We have plans to mine about 300m below ground level, so they can fish out the lumps they dropped, after the lake is drained.

ANGS was an expensive lesson not to deviate from the plan.

Closer to profits.

Let’s see if the news flow picks up.

Come on the next site visit and pick up a rock full of scheelite. They are lying all over the ground!

Where is the Shard Capital broker note you merely hinted at? Or was it a guess?

Either way, it's a little late, is it not?

I don't think you quite understand the weeks of due diligence that one of the world's largest financial institutions carried out, before lending Mr Masterman $35m.

Do you think you should be investing in any stock, with your level of understanding?

marklee1, I understand what you are saying.

I just don't agree with you.

I really don't have a problem with different opinions.

The 20 tonnes is projected production for July.

Yes, that has not happened, so is not confirmed. Anything could happen between now and the end of July, including the end of the world, which has been high for a good long time, apparently.

So marklee1, you think there will be a cash call before the end of July, even though they had over £6m cash at the end of December, then borrowed EUR3m at 1.75%, with the Extremadura grant due in Q3/4?

Really?

No volumes have been confirmed. At the AGM, Mr Masterman said that production had been stop/go over the commissioning period of the crusher and the jig and mill.

The jig and mil are fully commissioned now, so the improved ore is going to the old concentrator, now working 24/7. The fine ore bin, when full, can supply the old concentrator for up to 11 hours continuous working.

We will be given quarterly production figures from September.

RT2, you are a very patient person, IMO!

Oldskool

“K3. Ohhh, I am confident that the market is not confident in there not being another placing or cash call.”

I don’t know how much confidence there is, but I respect your opinion.

“ I said cash call, not placing. You introduced the word placing. I said guises, not placing. “

Correct. I don’t see any great distinction.

“Even MM gets that wrong eh K3? Even you get that wrong K3. I did too.”

Correct.

“ I never said interest either.”

Correct. You said debt, not interest.

“ Do we have an overdraft? We do, of course we do.”

No, we do not have an overdraft. We had over £6m in the bank at the end of 2018, plus €3m borrowed at 1.75%.

“ I never mentioned interest. I mentioned debt.”

Correct.

“ I said it is racking up. Increasing by the day.”

You said debt.

“ More going out than coming in, is my suspicion and to be expected.”

I disagree.

“ Does 250k (Euros) cover all our costs at the end of every month, bearing in mind MM takes over 20k before he has even pi%%ed in a pot?”

Yes, it does.

“ However you try to dress it up K3, the interest is being accrued.”

The debt has been accrued.

“The longer it takes for WRES to be pumping out the refined dirt, day in day out, the greater the debt.”

As long as WRES meets its interest and capital repayments as scheduled, there is NO additional debt.

“ Now I am referring to the interest.”

Er, ok.

Anyway, you are still invested, so you obviously do not believe your own propaganda.

What a fabulous investwe have here! Imho, of course.

:-))

GIT, there is plenty of cash for the day to day expenses.

Cash required for Régua is now minimal. We have to haul the old concentrator up there. Contract mining and crushing is zero capex.

We will be hugely cash flow positive within a couple of months, imho.

There is NO cash going out on interest at present. With about a quarter of a million dollars in concentrate sales, why would anyone think there would be a placing?