Tarouca is early stages but MM said that it is only 40km from Regua and as soon as he has money, I can see him drilling holes all over it, firstly for the JORC and secondly to understand what we need there in terms of infrastructure, because if Regua can sustain a concentrator, why do we need two in the area, when a bit of transporting will surfice, unless of course it is comparable to La Parilla, then develop it, as a seperate mine, but either way we will need some infrastructure there as what is the point in shifting big rocks 40Km's to have them tossed out at Regua, if that is indeed going to be our tungsten hub for both mines.
Like I said I am just looking to the future between 1-10 years away, as I intend to keep until the company is bought out or MM decides that he has enough money and retires, at which point, I hope to be able to retire too.
Continued from post 1.
Yes, the criteria for the grant is very simple to meet according to you, we have to be in production by a certain date and provide local employment. Granted that looks simple but what happens if, for example, there is a really bad autumn and it floods the area and we can't do some of the work that we need to do and it is delayed. Yes, delays do happen, can you guarantee that we get the grant then ? As I have said I am not counting it until it is in the bank. END OF .
Also you state Wolfe is in the UK but has met with local opposition, because it is on the outskirts of a major town, so has to comply with all the regs that accompany that, where as we are in the middle of no where, so we don't have to comply with, for example Noise regs and can work 24/7/365.25 if we choose to.
ALso you might have noticed that yesterday I put about this company not being a Pump & Dump effort or having a board filled with people living it up at our expense, so not sure how that ties in with what I put about why we, potentially, are looked at in a similar vein, because I don't think either of the other two companies boards are doing that.
Also with respect to you on the feasability part, Blackrock insisted that we keep the CAA/San Martino assets, why is that, because if we can't pay off our debt, they will asset strip us and get all or most of their money back, which again is like the Wolfe RNS today, although they now have to give up the right to do all this WITHOUT shareholder approval.
Safetyman,
Once again you missed my point, I am not saying that the companies ARE the same, I am saying that potentially they are being VIEWED as being the same as other junior Tungsten miners. That is an important point, something that I am sure you understand, even if you aren't describing it at all.
Yes, granted we have OTHER assets, something neither of those other companies have and we are concurrently developing Tarouca and Regua and Regua will be the tungsten hub for both those assets, but I would like to see some infrastructure at Tarouca to minimise the amount that we would have to transport to Regua, which will minimise costs for transporting, but we don't need a concentrator there, just as much as we need to get rid of the big rocks and most of the spoil.
The gold and copper assets are great and once La Parilla is up and running, we should hopefully be able to get those up and running too. it shouldn't be too costly to develop San Martino properly, which will, hopefully, fund the development of the copper assets. However, I am looking forward in the future and I am not on about 3-5 years, by which all our current assets should be in production but 5-10 years. I am a firm believer in the fact that we shouldn't stop growing the company at all, unless it comes with a negative aspect to it, but we should be looking or hoping that MM is aspiring to build a company that is worth far more than 50 Million EBITDA a year. In my belief we should be looking at a company worth double or potentially triple that a year and for that we will need some or a lot of organic growth, such as buying other companies or assets that add shareholder value.
For example Metal Tiger have a large Tungsten deposit in the same region as La Parilla, should we develop it after buying it off them and earning more or should we let them develop it and we don't get the upside to that and risk a competitor?
I also understand the properties of the ore body, there has been detailed JORC reports and RNS' about it, and yes I understand that we don't have mud/clay like Wolfe do, but what enabled us to have that information? The money raised through various placings, something Wolfe, evidently didn't do too well, which has caused them all sorts of problems and something that people on this board have complained about happening. MM has diluted the company but he has done it for, IMHO, the right reasons.
Continued on post 2.
L200 actually you have 30% of 0.26! 😉😉😉😉😉😉😉😉
Safety man,
I think that you missed my point here, but i will answer yours anyway in bullet points and re-affirm mine at the same time!
You say that we don't need anymore money, that is true, currently and long may it continue, but Wolfe had debt first off and still can't service that debt. Therefore will II's see those cold hard facts and be spooked away from other junior miners of tungsten?
You state that we have specifically designed equipment for the geology and the physical properties of the ore body and we will be more efficient. Yes, we do, but there are no guarantees on the efficiency bit, however we can be reasonable assures that we will be more efficient, but why is that? Oh wait, that is because we did placings to raise cash to drill the ore body and understand its properties, something that some PI's here have baulked at and continue baulking at when discussing the gold/copper assets.
Yes, we have the grant, but it IS conditional, so until it is in the bank, I am not holding it as an asset and until it is in the bank, there is always potentially the need for more cash, just like Wolfe. So is that scaring away II's too?
You say that Wres is in a major EU country with great transpose links, but surely Wolfe have that too? And they are still struggling?
Yes we do have lower debt and I hope that it is gone altogether in the next couple of years, but again we have no guarantee on that either do we? Look at Wolfe, started out with comparable debt and it is now double what it was at the start. Again are these cold hard facts, scaring away II's?
I do agree that potentially we are a far better bet than Wolfe or ORM, but until we get the first FULL and commissioned quarter production results and then the full year results, we may yo-yo a bit and I am a long term holder and these beauts account for about a third of my portfolio and I am hoping that if my new tenant moves in quick, once the other moves out to have some cash freed up to get some more shares regardless of the share price at that time.
Also whilst I agree that we shouldn't compare ourselves to others, it is a necessary evil as we can learn what they are doing well and try to do our stuff better. Like I said yesterday ORM are obviously selling their story better, hence their Market Cap. The longer it remains at these levels the more we all can buy as money becomes available, as we long term holders now what is coming and we are all here for the dividends, well i sure as hell am and pretty sure most of you lot are too.
If MM gets this company to where we DO all want to be, it will involve buying up other companies, what companies would you all like him to snap up? Wolfe? ORM? Metal Tiger's tungsten assets?
Just curious.
Anyone else interested in the Wolfe stuff today?
Do we think that they are eventually getting their or are they just biding their time until they dig their own grave? Just interested in anyone's view here, especially as we have half the debt, none of the infrastructure payments, plus the right equipment doing the right stuff from word go.
It also begs the question and I am not deramping here, but could it be why we sit at these levels.
If Wolfe are struggling and ORM are potentially owing a lot more, as they build dams and infrastructure, that we already have in place, are they making institutional investors nervous about junior miners mining tungsten?
The reason I ask is that, clearly the majority of the people on this board have been here for a long time and despite a few spikes, we languish at these levels, surprisingly. If II's were in big here, would we be at these levels or would we see a higher share price support level?
Sorry mate, I wasn't accusing you of knocking me here, just stating that a few weeks ago, I said we would get a rise on the way up to production and got shouted down for it.
Yes AIM, is a tricky place isn't it? It is full of Pump and Dump companies, Bod who take excessive wages to fund their lifestyle, but there are a few really good examples of proper junior companies on there.
Some even make it to the big leagues, such as Centamin and Sirius. I am hopeful that MM wants a FTSE-250 company as this company has legs to run, it will just depend on how mu MM wants it, I suppose.
Personally I would like to see us, once production has begun, consolidate the mines in the Spain and Portugal area. For example, Metal Tiger look like they have their hands full elsewhere, so let's make them an offer on their mines in the locality, etc. I would rather lose a dividend for a year or two and become a FTSE-250 company than take an early dividend and not make it.
Whatever happens, my trading pot will be traded in the hope of adding to my main pot and hopefully getting my main pot of WRES shares for free on a rise to about 1.5p and letting them run and run.
Langtro,
I said all this about a rise on the way to the start of production a few weeks ago, I also said that it would be a great time for me to trade my WRES trading shares, as it will inevitably fall as the traders take their percentage and run away and I was shouted down for having that opinion, but now you are saying that we will get a rise on the way to production and it is OK.
Also I believe that you both have missed my point here, I am saying that on what we have in terms of assets and our debt package vs their asset and what I perceive as their comparable level of debt to us, that we potentially are a better bet.
However both companies are worth what they are currently worth and like I said they have evidently sold their companies story better than we have, because 30% of a mine that produces less than we will initially, isn't that great, is it?
That being said, it could also be that people know that production is coming soon, getting in now, then selling on news production has started.
Which is what I said, will happen here too.
Surely both companies are worth what people in the market price us at and people are willing to pay and besides I never said that were overvalued, I said on POTENTIAL they look overpriced, which in my belief they are, as they have to service a comparable level of debt with only 28-29% of our INITIAL La Parilla production.
However they have evidently sold their story better than we have, probably because they only have 30% and another company has operators hip and 70% they are perceived as not having got as much risk and proposed costs associated with it all.
Let me get this right.
ORM have 30% of 260,000 MTU's of tungsten or 78,000 MTU's to service 30% of finance required at 99,500,000 or 29,850,000, which is only 5,150,000 less than us and we will produce 270,000 MTU's of Tungsten which is 100% ours and we have 80% of it SOLD in a pre-agreement. Plus Regua and Tarouca and the copper and gold assets.
Yep, thanks for the heads up on ORM, but no thanks, to me they look overpriced on current market potential.
People are only complaining about the share price for one of two reasons, they have no money to top up and reduce their average a bit or they gambled it would keep going up and it hasn't.
Firstly when does the market go up, without any correction at all?
Secondly, why complain about something that is so far beyond your control that it just makes you look like a keyboard warrior when throwing accusations etc around.
Being honest here, I have taken advantage of the various corrections post brexit to lower my share price and I am here for at least the next 12 years, but in reality I will be here until they form part of my inheritance, that isn't loyalty or a misguided sense of trust in the company, as the company is making money hand over fist here. Yes, it has got legacy issues still to sort out and the integration of MBNA in to the business and the continued Digitisation of the business too, all of these cost money, but so what, if your average is anything like mine at about 63p a share, you are getting a dividend worth in excess of 4.5-5% a year based on last year's figures and the interim has grown by 7% to, so if that continues to grow at 7% a year we will have a grand total of 3.26p a year, which if bought at this level is over 5%.
Yes, there are shares out there that give you a bigger growth or dividend yield, but that RBS is paying out an interim dividend of 2p, yet is about 3.5x our share price for an interest of 0.008340284% on today's closing ask price vs Lloyd's 0.017694725% which represents the better view in our eyes.
So instead of looking like a keyboard warrior, make a decision and stick with the share and think how lucky we have been to be receiving good dividends or moan about how bad they are.
As for the buybacks, so what, again people are moaning because the share price hasn't gone the way that they thought it would have. Again see my points above.
Ha ha ha ha ha ha ha ha ha
Another 37,000+ shares bought today and luckily my average stays about the same. Just need as many shares as I can get my hands on between now and lift off, but I don't think I can get anymore, unless Santa Claus is good to me this year.
And if there is we might see a pound a share.
Ponfeigh, That 1.5p is just what I need to run my ISA wrapped shares for free, by selling my none ISA wrapped wres shares. I am here for the 10p party if not more, there will be a consolidation at some stage too, by my reckoning.
Troajan, I think that I didn't get my point across well here, I don't mean to trade day in, day out. My plan is sell my non ISA wrapped wres shares at 1.5p,that means that all the ISA wrapped shares are free, if they go up past 1.5p I will put the money elsewhere, but if they do drop a bit which should happen at some point as nothing goes up forever and at 1.5p a share that means it be an increase of nearly 350% increase in share price from this current buy in level, then I have the funds to get a few more free shares, don't I? If the share price does indeed sale past 1.5p and heads towards 2-3p, I obviously won't sell my tradeable shares until I feel that I will get the maximum I can for them and hopefully if they drop a bit, I get some more free shares. As for the trading comment, I just meant that we probably will see a rise as people dive in for the rise associated with the start of production and it should give us a decent rise, however, I am keeping my ISA wrapped shares for all the dividends that will come flowing in and I am hoping for dividends in the thousands over the length of La Parilla, Regua and Tarouca and I am not even including the copper and gold assets in this yet. Sorry if there is any confusion there
Troajan, I was thinking more opportunistic trading, but I won't be trading these until about 1.5p anyway, because if they do keep going up, all the rest of the ISA wrapped/non trade shares are free regardless and if they drop again, I can get some more free tickets and try to build it up from there. If I can i want to use the trade shares to pay for a Disney trip for me and my daughter in a few years.
Troajan, Tell me about it, I have been doing alright with shares got 10,000+ shares in Lloyd's, 8,000+ shares in Sirius and a nearly 400 Vodafone shares and those three are growing monthly, not as fast as I'd like but from a small acorn grows a mighty oak. To be fair, I have taken the Lloyd's shares from an average of 85p a share to about 65p a share, I am actually taking my Sirius average up month on month, but still at roughly 20p a share there and Vodafone I have got at an average of 178p, so all in all not looking to bad really with my longer term investments here. I am hoping that once this goes, I can sell my trade shares to cover all previous WRES shares purchases and the good news is, I only need 1.5p a share for that and when production starts we should should easily see that price. To be fair, we might also see a rise in share price during pre production, as people jump in to get a quick buck for the production news, etc. During that but, it may be a great time to trade my free shares, hoping for 1.5+p followed by a drop to 1ish p and to load up with some more free shares. Basically i am hoping for a repeat of the La Parilla news all that time ago, when we went to 1.85p max from about 0.35ish. I have ill take that bagger again right now. Ha ha ha ha ha ha ha ha ha ha ha.
Yep, finally over a million shares here, yes I know that is small potatoes to some of you, but for me it is a sizeable chuck of change. I am also happy with my average and the number of shares I have and yes my average could have been lower and yes I could have had a few more shares, but the money comes when the money comes, doesn't it. The best news is 2/3's are isa wrapped and the others are awaiting me to trade them, but I always chicken out here. #bringonproduction
I am a firm believer in the company and so I have tied a lot of my money in here for a very long time. The fundamentals of the MBNA purchase and the strength of the bank alone will help, but the main point is PPI is over in a year's time and that will mean that once that provision is dealt with that will be additional cash in the bank for purchases or for divs. At the end of the day, we have an additional 4.3 billion in the bank from the share sale and the Irish asset sale and with that we have a loss generating effort off the books at the same time. That means that the MBNA purchase is basically down to a few billion pounds and paid off from the synergy savings in next to no time.