Member Info for K3VMC

Ok. So there was not much oil produced. Is that it?

Are you saying that Balcombe will not have good flow rates because of this?

Ja51, I presume you are trying to make a point with that link.

Would you please help me understand what the point is?

Agreed.

Always be on your guard!

My excitement of the day was to celebrate finishing the last of the home-made tomato soup, by making another home-made tomato soup.

Booking.com says it will be 26c in Mérida on Thursday and Friday.

Bring the speedos!

Of options.

Of course Lupuzor will get to market.

Never listen to Trolls.

Jaf GIT started his post with “If”, as you know and yes, my response was sarcastic and superfluous. I should have left any nitpicking to your discretion and not just assumed that you would respond to it in your typical and inimitable way.

No, you still don't understand the basic facts of economic life. You don't have to wait until WRES actually sells the product, as you sarcastically write, you do though have to wait until there is at least some signs of production. That is why no-one is yet factoring in any large EBITDA figures and the sp is still 0.41p.

There are many things that I do not understand. Obviously, I do not have to wait for product sales. That was only there for comic effect, but do I really have to wait for “some signs of production” and how would I know what the signs of production are? Do you mean all the plant is installed, commissioned and tested? Just interested. If i have to wait for them, I have to know what they are.

You also have to use the production figures that the company have stated, which is not, as GIT used, 270,000 MTU per year. The company figures show 184,000 for 2019, 181,000 for 2020 and 236,000 for 2021.

I also read the presentation. I have been quoting the presentation since it was published and you have been criticising me, often and at regular intervals, for using the ebitda figures therefrom, on the grounds that those were only forecasts! So, now that Mr Masterman has provided an updated estimate of 270,000 in 2019 via his interviews, you choose to rely on the same forecasts that you berated me for using, because it suits your argument.

But of course you know better.

It is not a case of superior knowledge. It is a case of differing opinion. You now choose to accept the figures in the presentation, since you are happy to quote them. I consider this as progress, on your part, even if logically inconsistent with “waiting for signs of production”. No-one can rely on production or revenue until the dirt is processed and sold, as you regularly remind us.

My opinion is simply different from yours, as is my appetite for risk. That much should be evident from our different investment strategies.

GET, no no, no!

Remember jaf! You cannot simply multiply production by sale price! That is far too simple. You have to wait until WRES actually sells the product and has the money in the bank, otherwise you are just fantasising!!!

I did not have sweet corn this year, but the tomatoes have been the best ever!

Life is good!!

Mr Happy, you know jaf is not coming on the trip!

JTS13, good point re The Mother of All Gold Tower Block RNS!!

I didn’t think the gold news was overdue, so thanks for clearing that up.

But yes, where would we be without jaf?

I just want to get some facts straight. Well, as straight as I can, anyway.

RR, I’ll have a look at my next teabag!

:-))

Any ideas?

Jaf, I relied on the company’s figures when they gave them. The figures are different now.

You must be able to see and understand that, surely!

jaf, I knew I could rely on you.

I cannot and do not provide any figures as you cannot meaningfully extrapolate from zero. Until we know that all the equipment is installed and commisioned and the throughput that it can manage, not to mention the price of tungsten at the time, all we have to go on are the company’s figures.

So, you rely on the company’s figures, given at one point in time, but do not accept the company’s figures, given at a later point in time, with a current tungsten price. And even worse, you invest a considerable amount in WRES, based on that view.

Obtuse? Incredulous? Disingenuous? I can never quite decide.

jaf, I believe your post began “Certainly good news but”.

I concede that the first three words are as you quoted, and that, taken out of context, they are much more positive.

It reminds me of Mr Corbyn, being at the memorial service of a terrorist, holding a wreath, but, of course, not actually taking part in the service. Just being there, holding a wreath.

jaf, you know that the company did not support it because it used the tungsten price available at the time. It also used production figures of 187,000mtu for 2019. Since that projection was made, the APT price has risen by 50% and Mr Masterman has reverted to production figures of 270,000mtu.

You may describe my use of those figures, which give closer to $40m ebitda, than $20m ebitda, as cavalier, but I prefer to think of it as common sense.

You have invested a considerable sum in WRES. What is your estimate of production, price, revenue and ebitda? Do you just take the company’s figures of a year ago at face value, or do you think for yourself? You criticise others, but never offer alternative figures. I will ask you for them now, but I never expect a straight answer from you, sad to say.

Really? Up from £900k? Not sure Mr Menzies is continuing Mr Masterman’s fine tradition of flying economy.

eggchaser, they may well have added the €5.3 grant to the $35m funding and called it $42m funding. Who knows how they arrived at the figure, but is is wrong.

I was only pointing out that is was a rehash, with errors.