Member Info for safetyman

I would agree stv. But I am all politicked up now. Good and cooking is an absolutely fine thing to talk about. I note you’re going for some Indian. I do some nice curry sometimes, I do a dry meat keema that’s quite popular,. Tonight I am hAving homemade burger bun bacon and cheese specal, well you might be thinking nothing much controversial with that. But I think I will drink Lugana, a nice organic white Frim the near lake Garda. That could easily upset Kev though. I can feel admonishment heading my way. GIT won’t know what I am talking about, he knows there are beers that are not lager but that is the limit of his palate.

We were to get an RNS of goodly production I think the SP could rise to .74p.
Anyone want to do religion over the weekend?

Kev, if we can keep the things I like and we don’t suffer economic harm I am OK. I long ago gave up being English, I liked being British but am OKish now to be European, it has its faults. I particularly dislike anti-semitism and also the overflow of Middle East immigrants. Barbarians at the gates. the Roman Empire was conquered not by military might, but by economic migration- can’t blame anyone for wanting better- so it always happens and if not controlled destroys the thing that sustains that which is desired by the immigrants.

I am
Invested in a company in Spain and the EU. I have visited the site. My daughter lives in Spain and has benefited from their healthcare system. I have travelled easily and holidayed in Italy, France, Belgium, Spain and Malta, I eat garlic. If the healthcare system ain’t working well for me here, I shall pop across to one of them places where it is better. For me if it ain’t broken don’t fix it. The EU thing seems to work well for me. Each to his own I suppose. If we leave I hope we can retain the positives that I am aware of and perhaps some of those that I am not.
Like STV I voted in The 70s to stay in, thinking that was democratic. So the don’t have a revote opinion by the brexiteerd is a bit hollowI think some states do that in other blocks or countries it’s not uncommon. If we end up
Leaving I truly wish the opinions of sunny uplands become realised , because personally I have trepidation about it.

Macrons wife is hugely older than him. I think she was 39 teaching him at school when they met when he was 13 or something. Now that’s a strange guy imho. Mrs Merkel is an East German party member and uni background all communist. The trump, nuff said. Xi in China, big time control world domination type. Then we got the sung boy in N Korea, and all the crazy that goes with that. There’s Bolsonaro in Brazil, God knows who in Venezuela, the very reason Putin in Russia, the Saudi Royal Family, what passes go govt in Libya, Egypt, Iraq, Ayatollahs in Iran. But luckily enough we got Boris saying let’s get on top of the single mothers, which he has done several times- so much so he converted ordinary girls to single mothers, Jeremy the sums Corbyn with his outstanding commitment to anti Semitic values. I think it’s safe to say we are all doomed.

Blimey, that much for Corbyn? Mind you it’s a parlous bunch all round. Pity we don’t have PR then I could perhaps find something/one that makes sense to me. I would vote for Ken Clarke he seems reasonable.

The first 80% of a project usually entails dealing with the low hanging fruit, it requires 20% of the effort. The dodgy bit is the last 20% which requires 80% of the effort. It seems we are at the very last bit now though, and this last 20% has been a trying time, but I think it’s really good to be where we are now ( at last). The SP is far too low and there’s money to be made easily for any new comers imho. I did not expect the SP to be this low, but neither did most of the other LTHs or MM. Soon all to come very good though imho.

Mogwhy, I take on board that there are economies of scale when producing more. However, if we process less, we mine less, we blast less, we don’t have the lights on at night, we will QA less in the lab etc. So the costs will be a bit higher but not much. Yes there some things that cost the same such as running machinery with less throughput. Overall though the costs per mtu won’t increase much, conversely if we start producing much larger amounts there can be reductions from that figure.

Mogwhy, from memory, MM said it will cost us about $100 per mtu to produce concentrate and that will reduce with increased production and performance. So I used the figure of $100 per mtu. I imagine that included fixed costs. The loan payments I added on separately- and I based those on all being 12% and the loan total being $50 million ( it’s less). So loan payments to cover it at my loosely arranged figures are $6million a year or $500,000 per month. Those payments remain as required regardless of production. My understanding of OPEX is that it is the cost of the operation to produce, MM said $100 per mtu. The loan payments repays off the capital expenditure. Besides the cost setting the plant up from capital and the cost of production calculated into units, in this case mtus which I took to be the operational costs. $200 per mtu covers all costs including loan, and according to my fag packet breaks even at approx 50tpm. 100tpm gives good profit and as we increase production so the profit ratio increases. Aimho.

Posts - OST’s lol. It did it again.

DB, superb effort there. Is it 14 OST’s already and not yet lunch time. In a company you clearly do not like and a BOD that is low I. Your esteem. You quote going back over a two year period on comments as hilarious, I suppose you have been following Wres for over two year then.
Blimey hats off and respect you are a keen fellow to repeatedly rehash the same day after day and you don’t even like the company and have little respect for positive posters it seems. I reckon you must be retired to find the time to persistently post. I am concerned though, what about all the other companies in the world, should you not show them some interest. I cease to question your motivation as it’s beyond my understanding.

Excellent point you raise there Kev. Milestones achieved is indeed a very good thing. To be fast running out of milestones is a measure of achievement. Imho for dB to say that rampers ( the inference is that the positive posters ( is) are rampers) are running out of milestones and that this is a bad thing is about as absurd and a strange twist of the facts as I can recall. Having managed projects I can say without hesitation, running out of milestones is the objective! Fast running out is Bruce bonus time. A

I think we start producing properly January onwards and we should see some good numbers.
Initial production for December may not be. As high given it is start up with all the kit running. Despite the delays etc, I would reiterate my view that standing on the dirt at la Parilla September 2018 and seeing our modern plant running now is an impressive achievement. So yes MM has delivered, but he took longer than declared: being delayed on mining start ups is what happens in over 90% of projects, there are those that don’t actually get off the ground and fall before even getting set up, there are those that are rushed and do not have the geology and correct kit suitably designed in and end up failing (eg Wlfe).
We have a plant with kit specifically designed and bespoke for the geology and ore we are mining. Also unlike Wlfe we have full local support ( unlike Wlfe), our environmental issues which includes noise and the air pressure nuisance ( noise related) is also dealt with by design position and distance. It is a very well thought out enterprise, yes it has taken longer than expected, but it’s looking crackerjack to me.
In the meantime others can keep dragging up everything from the evergreen what happened to the tailings thing, or the’ what have the romans ever done for us?’, personally it’s a great achievement and looking forward to an excellent 2020. Each to there own.

If 80% of apt rice is approx $200 .
And we produce 100 tons a month.
And there are 100 mtu, in a ton.
And if 200X100X100= 2,000,000.
So if we get approx revenue of $2million per month from 100 tons a month, that would certainly cover costs.
If we said $1 million a month was the cost of keeping running and paying interest then 50 tons would keep everything going. ( I think that would do) Just a fag packet calculation.
If we said we need $2million a month to keep running then we need 100 tons a month. ( I don’t think we need that much).
Our production costs are said to be approx $100 per mtu, so at 100 tons our production costs are $1million, that would leave $1million to pay interest and such. Which would be plenty.
If 50 tons a month then 50x100x100=500,000 production cost with revenue of $1million leaves $500,000 to pay interest etc. If we said we owed $50, 000,000 and paid 12% interest that would be $6,000,000- so 50 tons a month would cover that. But we do not owe $50 million it’s less, we will be getting the rest of the grant money Q1 too.
So 50 tons covers it imho. 100 tons makes us comfortably profitable. However, design and specification of plant in place is for 200 tons a month- comfortably a most excellent position and we are moving towards it. After that we will move to T3.5 with output 3.5 million tons, then there is Regua, with Sao Martinho gold to come on line. QED money fountain.
It is imho a most excellent time to buy.

Nice blue colour. Buying taking place as is only right and proper with the current under priced SP. much value to be had imho.

That loan and the recent placing at a premium of .4 makes for nearly €1million. Given start up on production, we are half way down the last furlong with the line coming up. Most excellent imho. We can start ramping/ tuning and have the place running like a Swiss watch.

Rod, as I understand things the bank will base things on risk and return, so coconuts ( tungsten concentrate) in the bag would definitely affect thinking on the matter. As we are starting production with the new concentrator it looks like a case of follow the bear to me.

MM in the last podcast was talking about the gold resource at Sao Martinho. From last year up until now he has very much not spoken of it. Now he is saying some rather robust things like initial mining, etc- I thinks there will soon be value added here too. Looks good on that too imho.

Also if we got a truck with tourmaline on it, well that would be the ornaments on top of the icing.

Oh, and a truck with tin on it too would be good.?