Member Info for mogwhy

Folks - I think the June 2019 date was derived from the listing of Calidus in June 2017.
From the final results.
"The previous year saw the successful capitalisation of the Company's Australian gold interests as Calidus Resources Limited ("Calidus"), and the listing of Calidus on the Australian Stock Exchange ('ASX'). Under the rules of the ASX the Company's ordinary shares in Calidus ('Calidus Shares') are held in escrow for a two year period which ends in June 2019, and it remains the intention of the Directors is to distribute those Calidus Shares' to Keras shareholders when they are out of escrow, subject to any Calidus Shares which may be realised to provide working capital."

The PFS will trigger the release of the performance shares later this year.
I think these are two separate events but happy to be corrected.

L200 - I just did a quick comparison using the project overview website page.
Happy to be corrected if these numbers are out of date.

Just done a quick comparison with ORM.
Their 30% stakes equals a capex of $30m for production of 78,000mtu of WO3
compared to our project debt of $40m for production of 158,000mtu of WO3.

Opex is exactly the same at $110/mtu

OMR - finding gold at Tarouca would indeed be good news seeing that
it's a tungsten mine !

Due to the abuse I got for predicting this a couple of weeks ago, I make no apology
for coming back to tell you I told you so.
Anyone who bothered to read any of the recent financial reports could have predicted this.
Just shows that most are mug punters who rely on BB sentiment.

I think it's fair to assume that this BB is monitored by someone at WRES.
Can you remind Michael that the Tarouca exploration licence expires on 23rd March.
I could try emailing Gable, but they didn't even acknowledge my last email.
We don't want any administrative foul ups like some other companies I've been involved in !

RichKen - when was the Eskom VRFB commissioned and handed over for the test?
I don't recall seeing anything about this, though I probably missed it.
Last I remember the electrolyte was being charged up.

APT & Tungsten Concentrate Prices Rose While Tungsten Powder Price Declined
Published on Wednesday, 06 March 2019 16:55
Analysis of latest tungsten market from Chinatungsten Online

Ammonium paratungstate (APT) and tungsten concentrate prices climbed slightly while tungsten powder price edged lowered compared with last trading day in China on thin market trading and heavy wait-and-see atmosphere in the market.

APT was quoted at $262.5/mtu, up 1.7/mtu

1st blast

http://tinyurl.com/y2thsh7d

OMR - first blast was nearly 3 years ago !

http://tinyurl.com/yxzarmv5

Troaj - the company has to maintain a share register.
It won't take much analysis for MM to work out if its one consistent seller.

That's much closer at $36m revenue.
If that's correct, it means the FID is wrong on page 10 where it states
that the La Parrilla product is expected to price at 80% of APT price.

CJ - that's what the FID says - we get 80% of the APT price for 66% concentrate.
What doesn't sit right with me is the projected revenue figures given on page 13 of the FID.
For 2019 it projected 270,000 mtu of concentrate (184,265mtu of WO3).
Net revenue is $34m for an APT price of $245.

My calculator says that 270,000 x 245 x 0.8 = $53m

lol, nite

K3 - 66% concentrate is worth 66% of WO3 price.
Just to confuse things further, WO3 contains 80% tungsten (79.3% to be exact).

Troaj - we don't sell APT.
We send the concentrate to the Austrian refinery who convert it into APT.
Happy to be corrected if I'm wrong.

Bob - in the FID it's 2,700 tonnes.
But that's not important here. It's people understanding the relationship
between 66% WO3 concentrate and WO3 price.

K3VMC - "the tungsten concentrate wres produces is WO3."

That's not strictly true when it comes to calculating how much we get paid for our product.
Our product is is a concentrate which contains 66% WO3.
Remember that the T2 output is 2,700 tpa of 66% concentrate which equals 180,000 mtu of WO3.
See the FID page 7.

Joeman - the danger is that SC have still got 1% to play with to buy shares.
They only have to report when they go through certain percentages.
We won't know what the highest price paid is until they have to make an offer.

jamesroo - read the takeover code.

"When a person or group acquires interests in shares carrying 30% or more of the voting rights of a company, they must make a cash offer to all other shareholders at the highest price paid in the 12 months before the offer was announced"