Member Info for K3VMC

Hah!

Of course they need revising. Up!!

It is just not worth the hassle to do all the numbers and get them signed off by the nomad, as they will change in the very near future.

Outstanding achievement by Wresources, to get this MASSIVE mine into production so quickly and cheaply.

Forty-nine million tons of ore, just for La Parrilla.

Don’t confuse expectation with desperation.

Enjoy the holiday!

DH

I was not dismissive of the data.

“I can only assume that the cost and hassle of updating all the data, then getting it all signed off by the nomad, is just not palatable. Using obsolete data, just because it has already had nomad DD, doesn’t sit well with me”.

It does not sit well with me, BUT it will be replaced by management accounts in Q3, long after you achieve your 0.52p payday.

DH

“Final point. You don’t have a miner with millions of euros in the bank and $3m/month with an MCAP of £33m .Masterman said he was hoping to get 2OT a month starting in July. That, even with your maths is not $3m, closer to $350k ”

Everyone knows that we do not have those conditions at present. I am misleading no-one.

My post was simple. I mentioned no company name, but referred to a hypothetical state of any junior miner.

I repeat. You cannot have a miner with millions of euros in the bank and $3m/month, with a mcap of $33m.

We are not in that position, yet, as you know well. Stop misrepresenting my posts, please.

safety, mechanical completion is a step towards commissioning, towards unleashing the beast.

Quality will be remembered LONG after costs and delivery schedules are forgotten.

Heading 8nto the final straight now.

Good theory safetyman. Also, DH dropped in the subject of a new broker note a couple of times, then let it lie, so I would not be surprised to get that.

I have to say, I could not care less if the concentrator is not 100% complete on Friday. To go from full funding in May 2018, to producing from mined ore within a year, is an OUTSTANDING achievement. Poor ORM will be shovelling dust for weeks to come, while we are on our fifth blast into our mountain of ore, with the prospect of monthly increases in tonnage, revenue and profits.

You cannot have a miner with millions of euros in the bank and $3m/month, with a mcap of $33m.

AM123, me responding to myself was definitely a joke!

jaf, I always use the best, most up-to-date information available at the time. If there are unforeseen delays, like allmineral not ordering steel in time, my opinion changes. If the tungsten price changes, my opinion changes. When the JORC changes, my opinion will change.

You have to be adaptable in business. Always.

Then we can have the official verdict.

Pete, I was always clear that I was not referring to 2019 calendar year, but the first 12 month’s of full production. I moved on to $3m/month, to make things simpler.

Moggie, I have too!

I think my one was close enough to yours and far better reading than the WRES one.

Yes K3, I agree with you!!!

300m depth of deposit is six metres less than the height of the Shard.

Mountains of tungsten.

safetyman

“The presentation slides this morning are not really needed and they have not added value.............so why a rush to put upon the hustings?”

Very interesting question.

The thickness of the veins varies from a fraction of a millimetre to more than 3m, with an average of about 10cm.

The reefs are arranged in a series of packages of 10m to 45m in width and showing a good continuity up to 300m deep and several hundred meters in the direction.

Blow it up, dig it up, smash it up, shake it up, split it up, bag it up, cash it up.

Very simply process. Even I can understand that.

Wasp, I wouldn’t rely on any of those figures. They are desperately in need of updating.

I agree with you!

I can only assume that the cost and hassle of updating all the data, then getting it all signed off by the nomad, is just not palatable. Using obsolete data, just because it has already had nomad DD, doesn’t sit well with me.

My only consolation is that we have tens of millions of tons of tungsten ore and we are about to start profiting from it.

Jaf, as JTS13 points out, the graph shows Production Year, but I take your point that the figures remain unchanged from previous presentations.

Even just using the current prices for tungsten and tin, gives an ebitda of about $24-25m in production year 1.

Anyway, production is scheduled to ramp up in H2, so not long to wait for actual revenues and ebitda. I know you are not a fan of forecasts.

Open deposit in all directions and at depth!

Only €4-6m capex.

Nice.

I picked up the ebitda. Why do you ask?

Excellent presentation, is it not?

GoldenBull, never buy on someone else’s opinion. Reading about the market, the products, the company and the projects should not take any more than three to five days.

Much better to do that, than take opinions from a bb.