Member Info for mogwhy

Ponfeigh - which website was that ?

Ponfeigh - where did you get that tin price please?

Although there's been a total of 40 cases, 8 of those have recovered.
It's the number of active cases which is the number to watch.
https://www.worldometers.info/coronavirus/

OMR - they don't get their data from the London Stock Exchange.
It comes from NBTrader and Digital Look.

https://www.worldometers.info/coronavirus/

Ferro Tungsten Prices in the Chinese Market Climbs on Tightening Supply
Published on Thursday, 27 February 2020 17:43
Analysis of latest tungsten market from Chinatungsten Online

The ammonium metatungstate(APT) and ferro tungsten prices in the Chinese market are still in the upward trend as the supply of raw materials remains tight. With the gradual recovery in logistic and production of factories, market inquiry becomes active despite transactions do not increase.

Now the conoravirus in China is under controlled. Both domestic and foreign officials have increased confidence in China's economic prospects after the second quarter. However, industry insiders have expressed concern about the recent outbreaks in Japan, South Korea and other places where are the main exporters of China. The outbreaks may affect the deals with these countries.

Jiangxi Xianglu Tungsten released its offers for the second half of February:
APT was quoted at $238.5/mtu.

Page 4 of the FID.
https://tinyurl.com/ybft5ec5

European - the backers of Wolf and Orm were not independant of the company.
Banco Santander have no other financial interest in Wres apart from the loan. They've done their due diligence and risk assessed that the loan is worth 3% over a year.
The loan is secured against the grant, but in their worst case scenario that the grant is not paid, then they obviously have a high level of confidence that Wres ould still repay it out of profits.

Your other comment about producing less in order to minimise a loss if the opex is not achieved is laughable.
Much of the opex is fixed or has a low degree of variability. the more we produce, the more of those costs can be paid out of the revenue.

olda - Mark Heyhoe has not spent one single penny on buying shares.
His 750,00 shareholding was given to him as performance shares in three tranches.

"In 2018, China produced 64,900t of tungsten contained in concentrate out of total global production of 80,100t"
To put wres into context, T2 at La Parrilla will be producing 1,400 tonnes of tungsten pa. That's 1.7% of global production at 2018 rates.
Adding in Regua and T3.5 takes us to around 2,700 tonnes pa which would have been 3.4% of global production.
That sounds like a mid-tier mining company to me.
Couldn't resist another top up this morning at these prices.

MM quote "we've been shipping on a regular basis".

OMR - good idea, bring back hanging :-)

HPB - it's unlikely to go to court, as the only winners then are the lawyers.
A deal will be done behind closed doors and the only thing we'll get to see is an entry hidden somewhere in the accounts.

The €5.3m grant was always intended to be used as working capital during the ramp up phase of La Parrilla.
The receipt of todays loan has allowed wres full access to that capital at a low interest rate.
When the grant is received the whole €5.3m will be fully reflected in the companys' enterprise value.
The fact that the banks have allowed the capitalisation of the grant demonstrates the strength of and their support of the project. The banks worst case scenario is therefore that the grant will not be paid. It's not a big deal.

Thanks Boythorpe.
Do you know if that's a weeks production or did it take longer to produce 30 tonnes

greendave66 - I said 7-10 years before MKA shareholders could see any real cashflow from the project. The mine should be in operation in around 3 years from now.
You have to realise that Talaxis will be organising finance at the project level, not into MKA.

MT1 - one of the concerns I have is that if Talaxis organise the project finance, they could elect to have an aggressive debt repayment schedule. In that case there would be little free cash flow for shareholders at the top company level. It could drag on the share price for several years.
Add on the wait for the BFS, organising project finance and then construction, you could be looking at 7 to 10 years before anything flows through to the top company level. MKA would have little say in the matter with them having a minority project share.
Talaxis' primary concern is the supply of REE, not to line the pockets of MKA shareholders. Management would still be ok as they will still get their salaries.
We'll have to wait about 18 months to find out if this is a real concern or not.

Rotterdam tungsten APT now showing green on all timescales for the first time in a couple of years.

http://www.asianmetal.com/TungstenPrice/Tungsten.html

There's an awful lot of vanadium that's required for these projects over the next couple of years.

20,000 MWh pa - China - Fangchenggang (250,000 tonnes per year)
----?------------------ China - Ningde, Fujian (30,000 tonnes per year)
1,000 MWh pa - Saudi Arabia - Gigawattfactory (5,000 tonnes per year)
1,000 MWh------ China - Jiangsu (5,000 tonnes)
----800 MWh------ China - Dalian (4,000 tonnes in 2 stages)
----800 MWh------ South Africa - Eskom BESS phase 1 (4,000 tonnes)
----640 MWh------ South Africa - Eskom BESS phase 2 (3,200 tonnes)
----500 MWh------ China - Hubei Zaoyang Phase 2 (2,500 tonnes)
----400 MWh------ China - Wuhan (2,000 tonnes)
----200 MWh pa - South Africa - Bushveld Energy (1,000 tonnes per year)
----200 MWh pa - USA - New York (Margaret Lake) phase 1 (1,000 tonnes per year)
----200 MWh------ Australia - Port Augusta (CellCube) (1,000 tonnes)
-----40 MWh------ China - Hubei Zaoyang Phase 1 (200 tonnes)
-----40 MWh------ China - Wafangdian Zhenhai Wind Farm (200 tonnes)

Total of 309,100 tonnes of vanadium

bassguy - that's the Chinese price. I think that Jupiter mines website price is more relevent as it's FOB at Port Elizabeth. Currently $3.85.
https://www.jupitermines.com/projects/tshipi/manganese-price-information