Member Info for mogwhy

Thanks Devil.
All the numbers I published had either been publicly declared on this BB or were RNS'd.

GIT - I know it won't be accurate, but it'll be a bit of fun to see how much we hold between us.
Tonnacombe declared on here at the end of last year that he had 250,000,000
I've got a list of self declared holdings on here from the last few weeks.

I'm trying to put a list together. Do you want to declare your holding ?
Along with
Hartlepoolbob
GIT
happyholder
NMH19

Agree safety, all looks good from here on.
Possible news flow for the rest of the year.
Q2 - Jig & mill plant completion
Q2 - production & sales update
Q2 - Concentrator completion
Q2 - LP plant completion
Q2 - EIA approval for T3.5
Q2 - Gold JORC update to circa 400,000oz
Q3 - Ramp up to full production
Q3 - 5.3m grant paid
Q3 - WRES announces cash flow positive
Q3 - Regua FID
Q3 - Sao Martinho trial mine licence
Q4 - Regua production starts
Q4 - Sao Martinho trial mining starts

https://dictionary.cambridge.org/dictionary/english/glider

stealthy - a glider with an engine is not a proper glider !

NMH19 - there's no shorts open with IG.

NMH19 - they have been selling down for about 9 months.
Ever since their entire shareholding was seen to be put up for sale with a broker last year.
Think it was Geng who spotted that.

So I was correct in my suspicions last year - Hansource sold out completely.
At least the seller is now gone.

You missed out the bit about not being able to operate because we aren't doing any blasting lol.

https://youtu.be/IBWXRs4L8Js

Byron Pirola share buying history

May 2009 £160k
Dec 2011 £100k
June 2012 £100k
Nov 2012 £50k
July 2013 £50k
Dec 2013 £50k
July 2014 £100k
Dec 2014 £10k
Jan 2015 £50k
Mar 2015 £50k
June 2015 £160k
Aug 2016 £100k
June 2017 £50k

For any potential new investors looking in, here is a list
of Michael Mastermans share buys over the last 6 years since the sale of AIO to WRES.
June 2012 £50k
Jan 2013 £100k
July 2013 £50k
May 2014 £180k
Nov 2014 £8k
Jan 2015 £152k
June 2015 £140k
Nov 2015 £75k
Mar 2016 £75k
Aug 2016 £100k
Nov 2016 £100k
Mar 2017 £150k
Jun 2017 £50k
Oct 2017 £100k
July 2018 £24k

The wait might seem boring to you but there's lots to look forward to.

Q2 - Jig & mill plant completion
Q2 - Concentrator completion
Q2 - LP plant completion
Q2 - EIA approval for T3.5
Q2 - Gold JORC update to circa 400,000oz
Q3 - Ramp up to full production
Q3 - 5.3m grant paid
Q3 - WRES announces cash flow positive
Q3 - Regua FID
Q3 - Sao Martinho trial mine licence
Q4 - Regua production

Have I missed anything?

Once we're in production and the herd arrive, the share price will double fairly quickly.

Although the La Parrilla resource is of relatively low grade at 0.1%, the first 2 years of mining will target a higher grade target of around 0.13%.
This will be further enhanced at T3.5 when the pre-concentrator ore feed will be 0.3% due to mass rejection.
Remember, the appearance of trolls is usually a good sign. They don't bother trying to get in at a low price if it's not going to be worth their effort.
Remember Realrealist !

I too love the muppets, but you didn't answer my question.
Why would MM want to deliberately dilute his substantial shareholding?
He will have to pay for the warrants to be converted to reduce that dilution.
He wants the money for a reason. We can only speculate on what that is.
Let's hope it increases shareholder value by advancing one of the projects.

ClimbingWooster - why would MM want to dilute his substantial shareholding.
Muppet.

Folks should read these 3 research reports if they haven't done already.

http://tinyurl.com/y3z67762

http://tinyurl.com/yyerv3gl

http://tinyurl.com/y32qmv7m

It seems that some folks here are not seeing the big picture.
By the end of the year at the latest, we should be generating
$3m of revenue a month or $1.6m ebitda from 200 tonnes of concentrate.
I'm hoping we'll reach that rate in Q3.
That's revenue of $36m or $19m ebitda in 2020.
But during 2019 we don't need to be producing 200 tonnes to be
a self sustaining, cash generative company. Remember, we don't have to start paying off the debt until Feb 2020.
With a TPI estimated debt payback time of only 2 years, that means we don't need to be far into the ramp up curve to be a profitable company.
That means sometime in early Q3 is my guess.
If it came to the crunch and we needed some more funds to get there, it doesn't alter the big picture, which is that WRES will be a very profitable company in the near future.

Troj - the warrants can be exercised at any time up to the expiry date.
I doubt they would be forward sold unless the share price was much higher than the strike price. They would then be converted if the share price dropped back towards the strike price. It just means that you don't have to find the funds to convert them. I can't see these new 0.6 warrants affecting the share price much.

Troaj - don't forget this quote re. Sao Martinho. "W Resources has applied for a trial mine licence in order to commence initial mining and production".
The gold is at surface and will be relatively easy and cheap to extract.
Trial mining will accelerate the metallurgy testing and bypass the need for the usual scoping study, pre-feas and bankable feasibility studies. I think the market is seriously underestimating the timeframe here.