Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
as stated before and so many times now, the current price of W and Sn is of no relevence unless and until we have a productive mine. The metals price is only relevant when you are shipping and selling product. As far as any of us LTH's know the mine is currently not producing, that is certainly my understanding ans Disasterman has not told us that we are back into some level of production (inbetween rainy days of course!). So until we have official notification that we are in business and making money I'll not worry about metals prices like I dont worry about Troajans incessant ramblings with years old information and out of date meaningless videos. He'll probably post another 20 or so pointless links now just to prove a point.
You would think that given the dire apalling RNS mid Feb reporting on the ongoing disasterous progress (or lack of) in getting this project to work that 'De Management' might have issued some interim report on a monthly basis to keep their long suffering, hugeley out of pocket LTH's informed as to progress, tonnages and sales and exactly where the money is going.
I understand that this level of reportage isnt the norm but the way this s***show has been run so far by Distareman begs far more questions than he has ever answered. He surely owes us far more regular updates of progress...or more likely in his case the reason for ongoing silence is his continued lack of progress. WRES is a mess. Suppliers bailing us out, huge and icreasing debt, years behind in terms of promised production. If this was a major blue chip ftse 100 the shareholders would be calling for the head of the CE on a platter! I find Mastermans silence in the face of his ongoing inabilty to bring this project into production simply arrogant and appalingly poor PR.
Anybody living near the mine got a drone? I would be very interested in any footage that anyone can provide that proves there is actually anything moving there.
Could be ....but won't be
Extramadura - according to my Weather Channel App.
Today 8-17 deg sunny
Thursday 6-15 deg 60% rain
Friday 1st to next Friday 8th dry every day. temp range from a low of 1 to 20 deg.
No water excuses then Masterman please
Do we think the website need updating?
"Production at La Parrilla commenced with the new plant in November 2019, moving to 24-hour operation in late December 2019. Tungsten and tin production will build substantially throughout 2020 in the ramp-up phase, to mine 2 mtpa of Run of Mine and produce approximately 2,700 tonnes of tungsten concentrate and 500t of tin concentrate per annum"
Its 2022 now and as far as I know we've never got close to those dates or figuires.
A bit misleading to potential investors me thinks...so unlike Masterman to mislead anyone.
"we know Q1 will be poor, but if they have solved most of the problems" Agreed.
How poor and how big an IF we will have to wait and see.
But most of these problems would/should have been foreseen by any experienced mining entrepreneur. Masterman has an awful lot of questions to answer still that have to date gone unanswered. No one in their right mind (Troajan therefore excepted as he seems to be living somewhere between 2/3 years in the past) could argue that Masterman has done the job of an experienced miner. I know he has a track record of bringing projects to success, I've invested in one of them before years ago before I got into WRES!
But perhaps it was the team behind those projects that made them a success rather than the man.
Many years ago (1987) I was headhunted to join a then £26 mill t/o paper company. The owner had died and left it to his rather more entrepreneurial son. Said son headhunted me and others who he had recognised as being some of the best in our industry and by 1992 we were hitting £220mill t/o. With all respect to him, and I did and always will respect him for his foresight and vision, he was an excellent man to work for, it was the team he brought in that transformed the business in reality........Then he sold it and buggered off to live in Switzerland! We all did ok out of it with humungous salaries, the biggest in the industry at that time and our sweat equity when we sold it. But the big point is that he recognised he needed the best team in the UK and put it together.
I dont think Masterman has done that in Spain or can do that from Australia and whilst keeping all of his other plates spinning. I wonder when he was last on Spanish soil?
Good advice Agazzis. Saab there are people paid to influence you on these boards. Beware the paid rampers and de-rampers...spawn of the devil the lot of 'em.
Unless it rains....lol
We all make mistakes...Blackrock may have just made a big one. Masterman is a bloody liability and I dont trust him any further than i can spit...and thats not far.
At this rate of decline we'll all be back at pre consolidation price but with just 10% of the shares!!!
Now thats what you call shareholder value Masterman!
Great! If only we were selling it we'd be OK. The prices are irrelevent until and unless we are able to mine it, and sell it. I'm sure we can sell it as the demand is high...just a shame the project has been so screwed up. We should have been in full production months ago and making good profits by now....but we are not...and who's fault is that? Disastermans. Pointless historic out of date posts, ramping and stating current pricers (which 99% of us LTH's know anyway) is not going to up the SP. What will do this is Disasterman actually doing what he says he will do just for a change.
Too many false dawns, too many misleading statements and broken promises. No one trusts him any longer and it will take a lot of exceptional and steady upwards production to convince me and the market makers that he has this secured.
Just when you thought things couldnt get any worse Biden opens his stupid senile gob!
Were doomed!!! a senile old fool in the white house and a psychotic murderous lunatic in the Kremlin......Give me the cuban missile crisis any day.
Anyway before these two morons delet the planet i'd like my investment back please Mr Masterman so if you could extract your digit from your rectum I'd be eternally grateful.
1 individual & 2 companies trying to keep the lights on.
Stan has his very own stash!! lucky old Stan...lol
Oh course if the plant had been designed and ordered correctl;y and suplied correctly on time we wouldnt be in the ness we are right now. PPPPPP. Proper Planning Prevents P*** Poor Performance.....and whose fault is our P*** poor performance? Masterman...thats where the buck stops. Perhaps next time he appears on Proactive Investors he will find the honesty and decency to apologise to all of his LTH's forf his myriad of broken promises, failed deadlines and his totally P*** poor p[erformance to date. I stuck £10000 in this originally, increasing to £30000 and in 2017 my investment was worth around £70k, I further increased my holding to what I have today, 150,000 shares (post consolidation) on the back of his promises and assurances and today they are worth about £3800.
Which part of happy am I supposed to be?
If only we had a working mine...:-(
GUG is more a realist than a nasty person in my judgment Ponfeigh and I for one agree.
We let Putin get away with his initial incusrion and he now perceives (quite rightly in my view) The West to be weak, ineffective and vulnerable. The EU have a lot to answer for in all of this too, 'encouraging' former soviet countries to break away and join the EU eating away at Putins Russia. That is incursion by stealth. I'm not a fan of communism or Putin, quite the opposite, but he has seen The West in the form of the EU and NATO nibbling away at his empire for years and he's clearly had enough. He should have been invited into NATO years ago IMO. I'd rather have him inside the tent pi55ing outside that outside pi55ing in! We;
We'd have had far more dialogue and control in doing that.
We've got a moron in the White House and another in Downing Street, and a lunatic in the Kremlin.
Even the French have shown more balls than we have and that has to be a first!
I wonder how many of our young men would take up arms against overwhelming odds like the Ukrainians have. We have a nation of girlie Sam Smiths and Boy Georges now, we've let our much respected British discipline and toughness be replaced by woke softness. I'd see the return of more sport and PE in schools (especially Boxing and Rugby) alongside corporal puishment and then national service if I was ever PM. Discipline didn't do me any harm at all.
The cane taught me right from wrong and the sport side (especially the rugby and boxing) taught me teamwork, camaraderie and how to stand up for myself against bullies.
Chairman, Michael Masterman commented: "Whilst we have experienced a number of challenges over the previous four months, I believe the Company is now well positioned to bring about an increase in concentrate production.
Oh how I laughed.....heard it all too many times Michael. Time to start to deliver now. Lets have ON TIME MONTHLY tonnage and sales numbers going forward. Not that I dont believe you....but I don't. Lets have a bit less 'I believe' 'hopefully' and your favourite lately 'expected'. Lets have a few more like 'can' ' will'.....and most importantly include 'profit' and 'gold'.
the misinformtion comes from wres. a littany of broken deadlines and promises.
Oh if only we had a tin mine!....oh we do dont we...just that its not very productive or well managed...who knows might even find some decent W one day too.