Member Info for richam

https://fs04n3.sendspace.com/dl/4e17634d224a58d4823f1ce5e3c9a4d3/5b4cbf4117341d4e/jndm02/4500t.png

So the company doesn't "recognize" the increased output but in their corporate video it suddenly does when it comes to attracting shareholder money. They brought up the 4500t figure themselves in their own video highlighting the potential output when operating on a 24/7 basis. And that's exactly what they currently do. You created your account two days ago. From what you write it appears to me you're somewhat related to the company. And first thing you do is guide expectations lower?

In the public domain or not, if your output is 3500t on a 5,5 day per week basis, it's 4.450t on a 24/7 basis, our agreed-upon 4.250t figure generously allowing for increased maintenance. We are able to think independentlly and don't need any handholding by the company, "official" or "recognized" numbers, thank you. If you want to provide "accurate" figures, go with 4250, otherwise you're guiding lower indicating more serious problems at the plant. BTW, the companny miserably failed to even come close to its previously "recognized" number of 3.500. That goes a long way showing the credibility of such numbers anyway.

Whatever "regonized" is supposed to mean. As a matter of fact the 3.500tpa figure stems from the feasibility study which is based on a 5,5 days per week operation. Since Wolf is operating on a 24/7 basis for several months now, output has to be adjusted accordingly. "Recognized" or not. Trying to keep the bar low?

This, of course, refers to product shipped to GTP only. Later we will add product that was shipped to WBH. During Q4, only 11% of all product shipped went to WBH, during Q1 it was 25%. So depending on Q2's distribution the numbers will increase.

Sorry, 425.000 MTU (not 4.250).

----------------------------------------------------------------

Maybe this is an easier way to look at it:

Wolf's product comprises 2/3 WO3 and 1/3 dirt. In order to ship 10kg of WO3 (= 1MTU) Wolf has to deliver 15kg of product, OK?

That means in order to deliver 425.000 MTU (=4.250.000kg) per annum Wolf has to deliver 1,5x that much product, i.e. 6.375.000kg (=6.375 tonnes) per annum or ~1.600t per quarter. During Q2 Wolf delivered roughyl 1/3 of it (525t with one shipment outstanding) so production was roughly 1/3 of nameplate.

Devon, I'm afraid you mix up MTU and tonnes.

"Around 500 - 550 tonnes per quarter production would still only be at around 50% of our previously agreed nameplate of 4250 tonnes for 7 day working"

It was 4250 ***MTU*** of ***WO3*** that we agreed upon. This is ***NOT*** the equivalent of 550 tonnes per quarter "production" since Wolf produces concentrate and only 65% of this concentrate is WO3!

If Wolf produced 550 tonnes of "product" it would contain 550.000kg * 0,65 = 357.500kg WO3 = 35.750 MTU WO3. And this is just 143.000 MTU per annum or 33,6% of nameplate!

Yes, indeed. The progress came in form of a price increase for tungsten. I would have preferred an improvement in product deliveries but unfortunately this is not the case in Q2 compared to Q4. Towards the end of the Q, however, shipments increased in size and we can only hope this trend will continue in Q3 because Q2 numbers, even with the much improved pricing environment, do not make this a self-sustaining operation. 21M would barely be enough to cover operating costs but never ever enough to serve the company's debt. Remember interest payments as well as payback of principal is currently deferred. Once these payments kick in Wolf will have to produce significantly more than it currently does.

With one further shipment outstanding it is already clear that Q2 deliveries will be roughly on par with Q4. However, revenue wise Q2 will be much improved due to recent W price increases. USD revenues from deliveries to GTP will amount to roughly USD10,4M (minor correction due once the final shipment is reported). Using historic distribution data overall W revenues will amount to between USD11,7M (WBH 11%) and USD17,4M (WBH 40%). Taking into consideration a 5% Sn price increase I expectt tin revenues of ca. USD2,1M. That's overall revenues of between AUD 18,2M and AUD 25,7M. My "reasonable" scenario is for revenues of AUD21,2M.

59,626kg (62 bags). Takes it to 525.500kg vs. 582.700kg in Q4. Due to Christmas there were no further deliveries during Q4 so Wolf could play catch-up in remaining weeks.

That's what Panjiva posts on their free site. Once you dig deeper you'll find it's actually two containers carrying 35 bags of concentrate.

So much for increased production. Back to 33.452kg delivery. Another adverse weather event? Still down -8% vs. Q4-2017. "No need for further funding" is a ludicrous statement. Just the latest in an endless string of lies. This one is going to blow in his face just like al past ones. That, of course, won't prevent him from coming up with more lies.

Shipments to GTP now stand at 294.259 vs. 291.354 during Q1 and 349.490 durring Q4. We had seen a 4 container shipment half a year ago but Wolf failed to follow through and shipments declined significantly in the following months. So it takes a couple more of these to convince me that they have actually solved at least some of their problems on a permanent basis.

Devon, the most recent shipment to GTP is the biggest one on record, ever. However, this renders the current quarter just a tad better than Q1. It's going to take a couple more of these to make it a decent quarter. Under no circumstances do I expect this to make Wolf profitable (or to come close to it) in Q2. We can "safely" expect another multi-million Dollar loss triggering the advance of the next GBP 5M tranche (at a cost of 15% p.a.). Also, I think the quarterly report will reveal that Wolf's in need of more fresh money going forward. When I return from vacation on Tuesday I'll provide more detail and put the numbers in perspective.

The proportion is very important since deliveries to GTP are known before the quarterly report is released. A ratio of 50/50 means much higher revenues than a 88/12 ratio.

Or, to make it even more obvious: https://www.sendspace.com/file/pnwmt5 This, BTW, is not made up. It's not an opinion. It's a fact.

Devon, last quarter's production was shipped roughly 75/25 to GTP/WBH. During Q4 the split was roughly 88/12 in favor of GTP. A chart that shows how WLFE stock and the APT price performed during the last 2 1/2 years can be found here: https://www.sendspace.com/file/pmaptp

During Q1 the next two shipments amounted to NIL so Wolf has a chance to catch up now. It would take two 38k shipments to get on par.

Update: After a 3 container shipment arrived in Newark on 04/06/2018, deliveries now stand at 215.153kg in Q2 (down -26%) vs. 291.354kg at the sime time during Q1.

LOL, he knows nothing, zero, nada, zilch as usual. Mindless ramping all day. None of the Three Stooges ever knew anything. Go back and find ONE of his numerous predictions that was true. It was all BS all the time and still is, for sure. Profitable Q2, eh?? LMAO.

Update: After yet another single container shipment to GTP we are at 157.100kg in Q2 vs. 252.400kg in Q1. That's a jaw-dropping decline of -38% compared to an already disappointing Q1 number.