Member Info for mogwhy

HPSauce - although it was not BMN's responsibility to inform the market, they would have been well aware from the share register that Yellow Dragon had sold most of their holding.

https://tinyurl.com/y37qclum

Some useful information in the RNS.
The amount of tin produced as a percentage to tungsten was much higher than previous company guidance.
23.8% vs 6.8% for the July figures.
The 19.8t of combined concentrate will generate revenue of £250,000.

September quarter is Q3 and December quarter is Q4.
Seems easy to understand to me.

19t of tin appears to e an ultra-conservative estimate by Shard.
Wres have estimated up to an 1:8 ratio.
I've been using 1:10
It doesn't affect the calculation much.

jaf, that's for 2019 as a whole year.

I'm using 0.82 exchange rate.

Yes, 80% of APT.

Tungsten APT European US$210-225/mtu vs US$210-225/mtu

https://tinyurl.com/y4dhl9cd

L200 - $210

Shard have forecast 350t of concentrate production for H2 this year.
Throw in 35t of tin as well, and at current prices that should generate £2m of ebitda for H2.
If the grant gets paid in Q4, I can't see the need for a cash raise unless it's for capex.
Another loan against the grant is a possibility to maintain a sensible balance sheet.

And São Martinho - " In initial estimates, there is a large increase in the modelled volumes"

One key point from their research is this.
"Given that average Chinese production costs are equivalent to about
$280/mtu, we see prices as well supported at this level."
With the average Chinese producer currently losing money, we should see the higher cost operations closing down and supply tightening as a result.
Looks like the Chinese need $300 plus on average to make some profit so expect some sort of mean reversion between now and the end of the year.
Just in time for the T2 ramp up.

https://tinyurl.com/y5zh86q9

Good find stealthy, lol.

"Tungder
Posted in: WRES
RE: Mental19 Feb 2019 22:23
What the hell is a concentrator by the way? It doesn’t exist this type of circuit, it’s another made up term like “fast track mine”. Or the new one “T2” these Disney type expressions to get you kids all excited. I’ve been in 5 tungsten processing plants and can tell you that a concentrator doesn’t exist, it’s not a piece of equipment, it’s the whole process to make, duh...tungsten Concentrate the product. So how the hell is it coming in May this magic concentrator? What a salesman"

More signs that tha APT price has bottomed out and is now heading up
with the 30 day price showing positive.

https://tinyurl.com/y59wjqjb

Pdub, it's in the RNS re maintainance.
"Vametco commenced a 24-day planned maintenance programme in July, which is expected to be completed in August and will not affect annual guidance."

attila, it's doubtful that they were both sells.
More likely some kind of transfer or rollover.

Thanks thechaser. If you or anyone else can think of anything else to add to it, let me know.

Yes GIT, hopefully the newsflow starts tomorrow.

Q3 - Concentrator completion
Q3 - Gold JORC update
Q3 - Updated brokers notes
Q3 - Concentrator commissioned
Q3 - LP plant completion
Q3 - Increase in employment level to 200 full time
Q3 - Ramp up to full production
Q3 - Tarouca exploration licence renewal
Q3 - Regua FID
Q3 - Sao Martinho trial mine licence granted
Q3 - Production & sales update
Q3 - WRES announces cash flow positive
Q4 - Regua capex finance announced
Q4 - Audit for compliance of 5.3m grant conditions
Q4 - Transfer of old concentrator to Regua
Q4 - Announce successful extraction of tourmaline at La Parrilla
Q4 - Regua ore mining contract
Q4 - Regua JORC update
Q4 - Greenfield acquisition
Q4 - EIA approval for T3.5
Q4 - Regua concentrator commissioned
Q4 - 5.3m grant paid
Q4 - La Parrilla 200 tonnes per month production achieved
Q4 - Initial sales of tourmaline announced
Q4 - Sao Martinho trial mining starts
Q1 - Regua production starts

The troll is not very well informed on APT prices.
It'll probably try to fudge the issue by saying that WRES don't produce APT.

"Prices indicated at $210-225 per mtu in Europe"

https://tinyurl.com/yxlb23kw