Member Info for safetyman

I think from conversations that everyone ( and I mean everyone) is agreed that we are doing everything correctly notwithstanding delays, which have caused missed targets, but once we have confirmation that bags of tungsten concentrate have gone out on lorries we will be practically home and dry. It will be transformational for the SP and we are so
Near to it I have a metallic taste in my mouth, imho.

Mr DB, if we can agree on the physically evidential at la Parilla all ready for ramping up- thats a good start. It does require quantities to be produced that can demonstrate numbers given in the FID, that I accept. Once demonstrable it will light the blue touch paper/ I think we agree there.
The T3.5 and gold at Sao martini are more medium term if 12 - 24 months are medium term ( albeit I think that is near term for a project) but will concede to your view in the interest of harmony- We can agree on that.
Regua is near term, I think first half 2020 is reasonably near term. If a companies value includes potential I see it as being there in the near term.
From the design of plant and the fact it’s new, state of the art and of good quality and is being fed ore that is of the operating design grade, I am happy that we will achieve the Ebitda of $20 million in line with the FID.
I will accept the finance figure of $45 million. Once producing at T2 design levels that will be of little consequence, then Regua will come on line. All in all the current SP is absurdly low in MY opinion as is the mkt cap. It’s just a huge opportunity for buyers imho. All in all we agree on much, it’s just you have come to a different conclusion.

Mr dB, if you dont subscribe to what I mention it infers I am incorrect about the plant, infrastructure, regional and local political support, the professionalism of the engineers, the location, the machinery, the licences, the off take agreements, and that I have met the people involved and visited the site. I would say that to disagree with those points is beyond the absurd. The Ebitda is based on what the ceo stated and is in line with the FID. so although not as physically evidential, it’s robust.
Logic dictates there has to be something of considerable interest to you here, otherwise why do you post so many posts every day and persistently, and not anywhere else as far as I can see. It gives the impression of great interest. Personally, I am heavily invested and declare a huge interest in Wres, but I cannot find the time to
Post as much as you. Hats off to you, you’re very dedicated,

Troajan is very quiet, I wonder if he had slipped away from this veil of tiers, perhaps he has been reported or banned from some reason? If so how could such a thing happen? I find him very knowledgable on mining and a great source of links, certainly helped me with my research into Wres. I hope he is well. I have invested in line with his advice and it’s been very good I must say.

So I can presume that we are agreed on some of the facts: the plant, machinery, infrastructure, licences, off take agreements, location, jurisdiction, local work force, expert experienced engineers, support from local and regional politicians, support from local Spanish investors, production taking place, existing finance of £40 million invested, and an existing very low SP against ebitda of $ 20 with mkt cap at the same, with increased output at the next stage ( T3.5), further increased tungsten production at Regua, and the impact the gold at Sao Mary imho can have which is not yet priced in. But! We are waiting for $1 million of finance, which could come from the production that has now started. If investing is a risk we take to make gain, and all that stands between us and fortune is that, then in the world of investment this is superb imho. Given all that has been achieved, and the people ( I have met them) operating the plant I have a very positive outlook. Now if apt prices rise we could see some real rockets at the Wres SP.

For some reason my posts keep getting towed away. Well Kalan’s right about posts being repetitive, with knocking just being a rerun of the same stuff over again and again. I don’t think we are LTH are rampers, certainly positive; justifiable if you have seen the dirt as was 14 months ago and the plant as now is. It is genuinely impressive, despite the disappointment on timelines. Research tells me that start up mines usually ( it’s in the +90%) overrun. We were given overly optimistic targets, that’s fair enough to say, but to be 8 months late ( by my calculation) is small beer in the mining ‘overrun’ world. Then there is STV and dreamers who have been strongly critical at times and have expressed those views.
Personally I am more sanguine, currently very pleased where we at too. That podcast yesterday contained positive news I was not aware of, particularly the grade of ore going into the crushers being on spec-for me that’s the final piece of the jigsaw and aI am very happy with that. The Glod possibly being mined in 18 months is rocket fuel, but I will wait and see on that. Our mkt cap is at £20 million which is the same as la Parilla ebitda and that’s at just the T2 stage currently being brought into being. If we add T3.5, Regua and the gold at Sao martinho, it is in my very honest opinion super duper, and that based on the figures we have, what I have seen on visit etc and is not ramping- just the way I see it.

STV, What a gal!

Tungsten tips, can’t be bettered. Increasing demand.

Dreamers I agree with some of that, Regua may not be q1, but didn’t say say it was not so it might be though. The interesting bit was about the ore grade going into the crusher being on spec, very important imho. As for saying about the Glod, other than someone buying in JV or buying it out I had thought it could be a few years before production, but but if we Banff some out in 18 months that would be very pleasing.

Yep profit was the intended word. But there might be some refitting as we go to T3.5, do even for predictive text it’s reasonable.

I can only concur with the correctness of your last post.
Particularly the mid tier ambition , a longer term plan indeed. T2 when achieved becomes a step towards the planned T3.5, these are objectives and will make refit a plenty. The mid tier is an aim.

In the style of K3.........
I remember Vic and Bob when they used to do in the club style, lol.
That last post put me so much in mind of that. Much chuckling, well done you’ve brought joy into the universe.
I take it as a very positive sign for Wres.

Let him is without paragraphs cast the first stone.

Sargasso sea

Indeed, I wouldn’t want to be out of this over the weekend.

STV, I spent a few years in industrial engineering, basic minute units, effective performance and other costs were used to calculate production costs. etc. However, to be fair I never worked on a mining enterprise. So it might be par for the course that the by product is calculated in this way. Other than that though I am familiar with your description. All in all though where ever you put it, it works out the same overall and to some extent if we are saying the cost of producing tungsten concentrate is the only figure we are interested in so we can compare it with what we are selling it for, it makes an acceptable approach.

Thanks db. I thought the $94 costs was only for production. I was saying the $1 million from 100 tpm was revenue left after production, and thought it would be used for interest payments, of course the 200tpm would double the income. So it turns out I was underestimating by a considerable margin as most of that after the 94 will be profit then. When we get to T3.5 this is going to mega then, with 400tpm superb. Also I will share that MM said at theAGM as we produce more the economies of scale could further reduce the costs. At the visit one of the engineers told me, over olives, that it might be possible to get to costs of $64 MTU. So thanks again for pointing out I was far too pessimistic.

Whoops again, I forgot to mention the 2000 tons a month is only a step at the T2 stage to T3.5 stage which will bang out 4000 tons a month. And then there’s me not mentioning the tin production, it turns out I am nowhere near optimistic enough!

Whoops got a bit over optimistic there with me fag packet. Forgot to deduct production costs on the other 100 tons a month, so if I round it up to 1 million. Me overall Wonga after costs is about $2million a month. So $24 million AFTER production costs for a year. So what would the SP be on that basis I wonder. That amount is more than the market cap.

Once the plant, which is currently running and starting to ramp up, gets to capacity it will reach a designed 200 tons per month for this development stage. However, if we said it reaches only 100 tons that is 10000 MTUs. If the guesstimate is at $200 per mtu. Then it is $200 X 10000 = $2million revenue. If the production cost is at the designed level of $94 per MTU, then $94 X 10000 = $940,000 production cost.
So take $940K away from $2million = $1,060,000 per month after production costs. Let’s round down to $1million for contingencies, that will help out a bit. So $12 million a year to pay finance costs. Now that figure is for us achieving 50% capacity. Once we get to full capacity there will be another $2 million revenue per month which is $24 million extra for a year bringing it up to $ 36 million revenue after production costs are deducted.
So the next question is; how much is the company’s SP likely to rise if mkt cap is £20 million? ......... oops sorry, forgot there’s Regua to come on stream Q1 2020 and then there’s the gold at Sao Martinho. And the la Parilla is up and running now. Looks like we shall see some notice taken at some point and the SP will move upwards imho. I wonder what it can go to? For me 3.4 has been an achievable figure, all imho.