Member Info for mogwhy

Lol, thanks for the clarification jogj99.
We were indeed confused.

The good news about BMN closing for 2 weeks is that they've almost certainly hit their 2,800-2,900mtv production target for the year.

Tonlin - what currency were you using?
I'm using USD for ebitda and sterling for market cap.

Actually, I've just noticed my model says we'd need a p/e of 8 to achieve that.
I'll have to recheck.

Agree with your figures Tonlin. To achieve $40m ebitda we would need to produce 365 tonnes per month from La Parrilla and Regua at current prices.

Tonlin - I think we'll see a gradually higher p/e ratio when the following happens.
1. Solid evidence of future free cash flow.
2. Increased life of La Parrilla mine.
3. Reduced debt (or at least reduced payments).
4. Promise or delivery of dividends.
5. A solid pipeline of future projects or expansion plans to maintain it's mid-tier miner position.

Until then, I'd be happy to see 1.3p in H2 20.

Pigpen70 - a quick scan through the posting history suggests to me that he's just a concerned shareholder who's been caught in a spike after listening to all the ramping on here.

And once again, the bulletin board police attack what appears to me to be a genuine investor just because they don't like what he tells them. Shame on you.
Uk steveg - he said closed until January, not in January.

Regua to go into production in the first half of 2020.
Great news.

ReddingtonR - for it to 10 bag on the 2 producing mines, we'd have to have a P/E ratio of about 7.
Can't see that.
More like a 1.3p share price on a P/E of 3.

Chinese prices all showing increases on daily, 30 , 60 & 180 days.
http://www.asianmetal.com/TungstenPrice/Tungsten.html

If Regua comes on stream next year and is producing the target of 1,300 tonnes per annum, that gives WRES a total revenue stream of around $80m per annum.
That generates around $36m of EBITDA.
More if the price of APT and tin continue to rise.

It's now looking entirely possible that we won't need to raise any capex to get Regua up and running.
With a refinancing package in H1, the E5.3m grant, the extra $5m finance today and positive cashflow within a couple of months, that leaves the company in a very nice position.
The trial mine start up cost was estimated to be E2.5m.

From 9-45
https://tinyurl.com/qw9e8tw

It's likely that BlackRock expect that their entire loan facility will be paid back within the next 6 months. MM has previously indicated that he would seek to refinance the loan after the end of the 2 year non-call period. It's unclear to me whether that period ends in February or May 2020. I suspect the former.
It's also likely that an alternative finance package with a much lower interest rate has already been organised, probably dependant on demonstrating a steady state of production at a minimum rate and the APT price being above a certain floor level.
Everything looks very good going forward from here.

devil - try reading the RNS. It tells you that it's an extension of the existing facility but without warrants.

Those unforced sellers over recent weeks have demonstrated how little they understand the company, the La Parrilla project and the team behind it.
A project of this calibre with a highly invested board and supportive financial partners was never going to run out of working capital.

m-i-b, we're all aware of the shortcomings of MM and his failure to get the mine up and running on time. Some delay was to be expected but not this long.
Despite that, with MM's personal investment in this, most of us believe this will come good soon. He is a wealthy man with good industry contacts and I have no doubt the necessary working capital will be forthcoming.
It's tough at the moment and my own personal failure to deliver £40k of WRES profits by Christmas for a new kitchen has left moggy in the doghouse.

I also think wres will come good soon.
A reasonable production target for Q1 2020 could be 100, 120 & 140 tonnes per month for Jan, Feb and March respectively. At todays prices that would generate $7.3m. Add on the E5.3m grant ($5.9m) and that gives us a total income of $13.2m for Q1.

Agree Safety. We should achieve a minimum of 100 tonnes in January with 24 hour shifts. At current prices, that will generate exactly $2m in revenue for January.
Then the E5.3m grant won't be far behind.
I've had a top up today. Average now back to 0.35p.