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Troajan, I have to add that, just for balance. A bit like the BBC has “balanced” political reporting.

Yet another day closer to full production.

Don’t listen to the trolls, or rampers. Just look at mogwhy’s list of news to come, when it is ready to come. Anyone think the LP will fail to kick out 200 tonnes per month? LP is all we need to get to 1.8p, according to TPI. let’s see what the new mob say.

:-)

Yes, I am missing the point.

PLUS, I’m sure that the Caja de Extremadura Bank will be as willing to support WResources success in providing desperately needed local employment, as the Socialist Junta de Extremadura, that they will very happily refinance the Blackrock at a very advantageous rate, as soon as production levels derisk that loan.

Spanish banks and local government support Spanish business. Good for them!

inkisblue

Let’s think about the ins and outs of Q3.

“Tarouca exploration licence renewal”

Admin + token fee.

“Sao Martinho trial mine.”

Admin and token fee to get the license. Certainly NOT starting mining.

“Production hardware at the various sites or accessing nearby plant.”

Using the old concentrator at Réguaand renting a crusher, as required. This can be paid from Régua product sales.

“Brownfield or prospect acquisition.”

The cost of registering a new claim in Portugal and Spain is in the thousands of Euros, not millions.

“5.3m grant paid of which he has aleady taken a 3m + loan”

The €3m costs about €50k. That is easily covered by the €5.3m grant.

The Blackrock loan is accruing interest, so will NOT be coming out of cash flow in Q3, which could be around the $5m mark. That plus the net €2m will be MORE than enough to see us through Q3 and on to the NEXT €5m ebitda in Q4.

I’m sure we all understand to talking your own book, again, but I don’t think you are scaring anyone. In fact, I think you are spelling out the FACT that we have very significant earnings potential to realise in the next few months.

I look forward to getting some of that very good news flow before the agm, like many on this board.

A lot of positive news to come. We could be invested in an oiler and waiting for drill results, which often turn out dud.

Just need that extra little bit of patience.

My fault Troajan. Popping in and out of the garden and didn’t read the thread properly.

???

Closer to 5 weeks, than 5 months.

Except jaf. Jaf should buy back in.

I can believe he didn’t thank me for suggesting he bought back in at 0.28p.

No gratitude, whatsoever.

:-)

Either Mr Masterman is hiding the jorc, or he does not have it yet.

The former makes no sense, so I assume the latter.

Anyone who assumes the former should ship out, imho.

Morning stealthy. Too hot for me! Planting stuff out this morning, before we get to our mid twenties today.

Maya.

Switch the tv off.

Look st fish.

safety, I tried Brew Dog Punk IPA for the first time today. Loved it!

jaf, I know. I can't prove that. And I'm not saying it is better than other beers.

Give me the weekend and I'll make up some outrageous facts for you. You must never leave again!

X

Jaf, I apologise. I thought you would understand the term run-rate.

Put simply, a run-rate of $20m is a monthly rate of $20m/12 months.

Clearly, you were talking about FY2019.

Clearly, I was not.

As long as you understand that, you will be fine.

If if keeps you posting here, I will invent some future facts just for you!

X

Jaf, I hesitate to hoist you with your own petard, but,

“Since neither are going to achieved and both are inaccurate, the conversation is academic.”

You cannot POSSIBLY state that as fact, as you have NO idea what future production will be.

I POSTED NOT FOR FY 2019. JUST THE RUN RATE AT FULL PRODUCTION.

PLEASE READ THIS CAREFULLY!

Does caps help, at all?

Nice to finish blue.

:-))

Jaf, sorry. I can’t do the whole “If it is not in an old presentation, I will not believe what the ceo has said, on record, recently”.

We had at least a year of that, so you stick to the old presentation and I will go with what he said recently, ok?

HAGW

32Jaf

My Tuesday 8:34 post.

“L200, sorry. Should be $20m. Still asleep.”

See? An apology, followed by a correction.

As for last July, yes, I was wrong. Unlike you, I did not foresee delays in allmineral getting the right steels in, having read that they are on fixed price, fixed timescale contracts.

But, to be fair, you just disagreed with everything. I suggested that you bought, instead of sold, at 0.28p, so I could have made/saved you some money there, had you not been so intent on being right.

Anyway, you made money and sold out. You even resisted posting here, for a little while, so all good!

:-))

“That is according to the CEO” should give you a hint.

Mr Masterman is talking about a run-rate of $20m ebitda per year at full T2 production. Clearly, we do not know when full production will start, although you may well be better informed than the rest of us. Similarly, Régua will ADD to the ebitda at some point, between now and the end of 2020.

It can’t be that hard to understand, unless you were trying for some cheap point scoring.

I predict that you will always be on holiday for agms, regardless of date.