Member Info for safetyman

Jaf, I think the reason your not invested here now is because you bought into a negative narrative that was being run out by some either because of their influence or a decision taken on your own initiative, if so recall the SP was about .28- I got some more at that time. We all make decisions, I do not wish you well with that decision as it goes against my interest as it were. I think you are wrong, you think I am wrong. I am invested here and so post, you are not and you post, that is strange to me.

A couple of things. I don’t mind in the least saying if I make a loss. Have lost some biggies which I don’t mind talking about at all. I don’t talk about so much where I got it right, cos that is it a bit boastful. I just say what I think; I am not looking for bias confirmation, nor conformance with opinion. This is a good investment imho, it’s that simple. In terms of doing stuff on the market, I started with £800 years ago and put it in Kalgoolie Gold Mines, many ups and downs and now I got quite a few shares here and some other bits and pieces. Biggest loss was in me Blue chips on the big crash. I have not gained or lost until I have sold and/or this pays divi- in which case I count as money.
I don’t think I have made a bad mistake, I have bought higher, and I have so bought more lower, particularly in the twenties.
The chat on here is sometimes nice to share views with people you have met, all of which are decent people that I have had a laugh with. I think me and golf pro shared a particularly happy moment at the AGM. Relax and enjoy each day all. For those invested here, It is my option your views are what matters. Why bother if you don’t know anyone on the bb and you are not invested. Sherlock said any crime requires motive, means and opportunity. Motives?

To be technically correct then the production costs of producing $94 per mtu. I was also told that over time because of various factors this cost can reduce as happens in mines over longer terms. That’s what I understand. If accountancy pedantry says other things do be it. However, for myself it makes sense. Actually, I spoke to representatives of the accountancy firm at the La Parilla visit, they thought it was a crackerjack project and we eat some very nice olives too.

Or......or, And the Spanish grant should be Spanish loan. Jeez, don’t take advice from me sausage fingers, predictive text and incompetence- it’s a dangerous combination.

Dreamers, you is getting a bit pedantic. I would have thought money borrowed is now on the red but, pr at least in brackets. When the grant turns up that might pay back the loan, personally I would use the grant money to pay off the more onerous loan from Blackrock and continue to pay longer term on the favourable terms of the Spanish grant. I was speaking to an ex-accountant last week, and over lunch he said I was very clever. So sound advice then, I reckon.

I might be wrong, but total revenue - cost= net revenue. So I take it what K3 is saying is that the net revenue on a single mtu is $110. In industrial engineering, breaking things down to basic units and working up is a method used. You can do it with time too, e.g. basic minutes per unit for production of widget etc.
There could be arguments over costs etc, however, MM has reaffirmed this as $ 94 per mtu , so its fair to say he calculates up from base units too.
On the question of why we put our recommendations, for me I put strong buy, which is what I think is sound advice, when I can I buy. If I was selling I would recommend selling, I am just a simple guy. It really is straight forward imho.

There are also intangibles. Having met and spoken to local Spanish investors from established and respected family in the area, I can say they have a vested interest in the success of the mine. Having seen and met some of the people that work there, they are keen for it to succeed. The local and regional politicians fully support the development too, they have met with our management and also agreed the grant. We are not faced with local environmental issues or a lack of labour. That is all intangible, but very important, you would not want to do this in Sussex with a field of great crested nudists. We are very fortunate, not only do we have the material progress we have the spiritual support of the locals in every way. So all heads towards success imho.

The twitter feed shows, in pictures, the tangible progress of the la Parilla site. Clearly demonstrable construction of all
the equipment, crusher, jig and mill, and now new concentrator nearly completed. The pictures are really impressive from my perspective. Having visited the site last year and to see what is there now, I am very pleased with my investment. To bring everything together like the licensing, plant and machinery, infrastructure and JORCs and develop this state of the art tungsten mine that is designed for effective processing of the ore body for the money they did it with- just crackerjack imho. After September we should start getting quarterly reports and that will allow us to see production and profit figures. Most mine developments take longer than originally envisaged and that is true here. Mines don’t always get to development and die off along the way, not the case here. We all are, on here, by nature greedy for money and want it as soon as possible- hence why we trade. Hence, time in an investment moves at a different speed on here in our perceptions making it a whole lot more frustrating with delay. Mining from finding a place to completion always takes years, you might get some spiking with news of finds etc, but ultimate it’s long slog. It is the nature of the beast. I am now at my happiest with regard to this investment. Dyor of course, this is my view though.

Dreamers, fully understandable venting. Got to say though MM andvassociates are giving off the most positive vibes I have seen. There is no sign of a soonish site visit, which means to me they don’t feel a need to get reassuring. Physically looking at everything that we can see on the Twitter feed is impressive. I am disappointed in the delays, of course, but at the same time the most confident I have been- For all that’s worth, but is a genuine opinion.

The tin represents about 10% of what ever the tungsten is. The amount varies as does the price of tin. Yes it was asked at the AGM and essentially that was the answer.

You are here for trading the SP twiddling about is very disappointing. However, if you are investing it’s about the longer game. I have spoke to all the people, been to the site; as an investment it’s crackerjack imho. One of the things about investing in shares is not to put in money you going to need on the quick, or that which if lost will affect your life. That’s why the patient do far better than the impatient.

Troajan’s reasoning is sound. However, the spelling, the grammar, the syntax- it’s atroshoose. No wonder they banned him. He is perfectly correct about this as an investment imho.0

The focus is to get La Parilla running fully up to 200 tons per month as being key and also towards the end of that getting Regua going. Then moving la Parilla to the T 3.5 stage. The mcap and SP would not be able to resist change at that point. IMHO. There was reaffirmation of production costs at $94 per mtu. Over the longer term it may perhaps reduce as sometime mining projects become more efficient, there are other variations such as the price of tin. So we may see earlier movement of new interest comes along, there should be new Broker Notes coming along and we have a new broker on board. This has been a long road, but take a look at the pics on the Twitter feed to see the progress. There is a much stronger upbeat and feel from the board.My view is we get movement North once the news flow strengthens. I have a lot of confidence in the new concentrator being commissioned correctly - There are no foreseeable risks to completion on this and any snags are being dealt with there and then, rather than wait, as part of the commissioning process. Very much a run stop start initially, but that’s about tuning.

As I recall, I ate your prawn at your request. Only reasonable under the circumstances. To be fair, I may have over compensated with food consumption, but I didn’t want to disappoint the waiter :)).

The Regua site is 10Km from the crushers, the ore will be shipped down to the crushers and the concentrator will be sited there, so it will not be required to be hauled back. The haulage chaos will provide the site and the power as part of the deal. The crushers has been part of Portugal’s road building projects and our waste will fill the quarries. All very environmentally friendly.

I think MM is a lovely, lovely man. I have an effigy of him on my mantelpiece and anoint oils when I look at it. There are others who go much further, but I have strict rules. None of us have ever invested in anything before, we do not understand how the market works..... and God forbid any of us had ever made any money through investments and such. No just simple worshippers , that’s all we are. Mind you we seem cheerful.

Tonlin, some excellent ideas there. Must ask though, a lot of them caravanners are nudists- so during these walks are you clothed? If not clothed it would limit your walking season. Oh I may have gone a bit off piste there..... but it happens.

Derailed? ...... derisked

1) Dreaming, we did go to the Iranian restaurant, we enjoyed the food all bits and of this and that, but we have no idea what it was called. Nmh particularly liked some green stew stuff. We were outside and there were some lovely looking ladies about.
2) it’s hard to say much that is not already known. Market sensitive stuff would be in a RNS, so nothing show stopping. It was interesting to hear an explanation of lessons to be heeded from other tungsten operations and learn that we are definitely not making similar mistakes that would cause breakdowns. We could have gone into earlier production and then ended up failing if we followed hasty implementation. We are constantly running and trialling during commissioning and tuning for optimum productivity. Almineral have caused delay, but have since got their act together. The board had mentioned to Alminerals their dissatisfaction with the delay- which was not our fault.All in all there was a sense of undisguised positivity from our people at Wres, their upbeat demeanour has left me feeling rather derailed actually. And of course there was the mysterious investor who always turns up, and made excellent recommendations for moving forward in the longer term and wanted to know when we were going to get a rise in SP- quite reasonably.

Kev, one is enough at lunch time for me too. I think them posh types abuse us lower classes. I had a beer afterwards and that was more than enough for me., mind you them Northern lads can sink them . I’ve had a nice day with good company . Every good day we have is a blessing, none of us know what’s round the corner for anything.. so us being cheerful and having a positive view ain’t done no harm today.