Member Info for safetyman

Troaj, I have no objection to your point of view, in fact you may well be right. I think I am perhaps, too pessimistic.

Troajan, I make you right on that, but we do need some substantial good news. Providing we are not faced with a negative event I think production will improve from here on in, but I think not much improvement from October. I could be wrong though. Then again anything could happen…….gold news, licence at Regua, loan facility etc, ideally though god production. We shall see.

GUG, I think it says what it says; ‘80%’- and during the initial production it will not be at full capacity and Idont think it says all production has to be sold in the offtake arrangement. But, at least you’re now not saying that I said there was an extra 20% . Regardless, I am sure you would want Wres to maximise revenue to the benefit of the company and investors. I do realise that we are not producing near nameplate at this time and production was disappointing for Q3 due to events described in the relevant RNSs. However, once issues are remediated we should see improved production. That is well known, but perhaps you could go over it again.
In the meantime, I have mentioned what I thought, from a rough fag packet calculation, the amount of revenue we could get from 68 tons production. It is not my intention to be vexatious or otherwise.
I fully appreciate your repeated efforts day after day, although, I do think your altruism leads you into being somewhat overly critical of others to the extent you have actually said I post on things that I have not posted on and you yourself may make errors. I certainly know I do.
At the end of the day, your wishes that Wres succeeds are largely recognised imho.
So it’s a big thank you from me, especially for 5he opportunities to discuss these matters your post present.

GUG, I should say, if you can find a post from me referring to green boxes I will nominate you for a Nobel Peace price. So I think you may have confuse your opinion on my ‘ bleatings’ about prices and the implication that I go on about green boxes.
However, it’s fair to say I can get things wrong. Perhaps others do too.

GUG, you refer to ‘bleating’ and not understanding how pricing is derived. I think you are referring to my saying that 20% of production can be sold outside of the offtake agreement. I am not referring to an extra 20%. - I am referring to 20% of production being sold at full price outside of the offtake, hence that part would provide additional revenue in effect 100% as opposed to 80% on 20 of the production. I trust that provides an adequate explanation, is not insulting and certainly is not written to imply bleating or lack of understanding by anyone .
You may wish to read the RNS on the 23 feb 2018, an extract says
“W Resources will supply both with 66% tungsten concentrate on competitive pricing terms. The offtake agreements cover the initial T2 development of the La Parrilla Mine, and will account for approximately 80% of the planned production tonnage from this phase”
To reiterate: Hence, I am of the opinion we can sell 20% outside of the offtake. This will provide more income on that part then the over 80% in the offtake.
I am sure you will welcome this, as it means we may get more income as result.

Troajan, at $320 per mtu that’s $32,000 a ton. If we get 66% of contained metal and then 80% of the apt price under the offtake tha5 would be - $1,148,928. If some of that is sold outside the off take ( there is a potential of 20% of production to sold in that way , I think) that could bring 20% up to $287, 232.( From $229,785 if under the off take for that portion) which is an increase of 287 -229 = $57,446. So potentially $1,206,374. Then further to that is the opex, but we are told we are achieving ebitda positive, so that’s looking good. Now if we produce more, it’s a reasonable expectation that the opex becomes relatively less. So I think, regardless of m fag packet and assumptions, we need some reasonable production figures. However, I don’t expert us to get motoring with more biggerer production on that until this month on. Until we get figures we won’t know, but it’s looking really good on the potential, now f we can fulfill that then the worlds our lobster imho.

Bermuda, that is the post of the day imho. Excellent news on the pricing front.thanks.

Jaf, it is the case that some choose to not read posts by some others. I would imagine some people filter my posts, and if they do I am ok with that. It has ceratianly the case that there are posts that relate to the poster themselves or other posters. It maybe the case that some are tired of reading posts that they may consider sniping or the perceive as unpleasant or not actually relevant to th3 company. I do not consider myself as one that Only posts solely about the company and I end up discussing a non company issue - as in this post. I also note your post of 13:15 refers to posters that filter, imho that adds no value to the discussion on the company. These things keep happening, I know s9me like to post to infer how injured they feel, perhaps there are those that are not interested in that. It may be that some feel that repeated postings that are always negative are only going t9 refer to more negative stuff and as investors they are not interested in that.
It really is each to their own IMO and they can, yo7 can filter, what does It matter.
As for discussing a falling SP , perhaps and other such is seen by others as shadenfruede and they can’t be bothered to read it. But I th8nk you know all that anyway.
On a more relevant issue, Bermuda’post of increasing up tungsten price is most interesting. Increasing price is better than increasing production IMO , if we get both that’s most excellent.
The weather for the Merida area is forecast as sunny all nex5 week, which is good because November is one of 5he high rainfall months, so good news on that front. I am sure you ,like me, look forward to this good news. Hopefully, more to come!

IE - As per GUG’s last post it’s partially processed ore that gets shipped from Regua. I visited la Parilla a a couple of years back before the new plant was erected. I was told the concentrator, that I saw then being used, was to be dismantled and transferred to Regua. It had spirals, pumps, tables, motors, belts etc, so I think that will be contributing to the Regua set up. The crushers are already on-site at the aggregate site for Regua and we’re previously used Tocrush the aggregate for road building, the subsequent pits can be used for our spoil. Anyway that’s what I saw and what Iwas told and is also in various RNSs. I have no reason to doubt that’s what is intended. In the meantime, for Regua, it is also about getting the jumbos going in the adits,

Watching Bloomberg and the news bit says farmers in the US are having a hard time getting components for their combine harvesters, over three weeks delay. Let’s hope we got bits from the supply chain. Cos it also says global stresses….snarled supply chains, worldwide disruption and shipping delays. Should we blame MM? Thinking about it all, if we consider unprecedented deluges of rainfall and supply chain problems worldwide, Portuguese labyrinthine protocols not being the result of action or omission by MM, I think it puts him in a more reasonable light.. overall I think dreamingofs plan to appoint a CEO as perhaps being helpful.
More positively, tin goodly up- $608 today to bring it to $37060.
Now if were to get approval at Regua, licence at Sao.Martinho, good production numbers for October,completion of the second dam, agreed debt servicing arrangements for interest from blackrock and I think we will see an improvement. Any of the these would be good all bettter imho
On a more positive

Noididnt I ceo eded when I should have cfo eded. I wouldn’t want to get pedanted to death before the weekend,

GUG, so we are an exploring development company tha5 produces tin and tungsten. There you go sorted. I think I knew what was meant though.
IE. And yes I cfo eded when I should have ceo eded, I realised after, but didn’t think it was worth pointing it out, so thanks everso.

Blimey, dreaming your right on that, I have taken it as a given. So we’ve don’t even need him to step down. They could me the job, I can learn as I go along!

So GUG, are you saying Wres is not a production company by pointing out that we dont fall in the labelled arena for mak8ng videos and films and such, or do you mean we are not producing anything. We are producing tin and tungsten and that I would think is in line with dreamingof’s context.
My view is we are producing and also exploring.

If we could all get it right on prices, none of us would be on here here chatting - we would be to busy managing our billion dollar interest. That last assumption is based on that the more you have the more it owns you.
In the meantime good buyin* opportunity for you if you want some IMO.

Continued,
If MM were to step down and let someone else have the CEO role, it would make room for a hands on and visible lead for the site - I think that’s good for the workforce to not have someone thousands of miles away and that’s available to make decisions in real time in any live scenario. It’s also good practice in my opinion to have on hand for the purposes of perception by the mar key and business interests and investors ( including institutional) - virtual is all very well, but it’s the rubbing of shoulders that really gets things moving- otherwise there would be no Freemasons imho.
Then there is the point about the time he can focus given his new hydrogen ceo role.
So for me having a new ceo might be a good thing.
IE I have long thought updating the website has needed doing, it’s now looking shameful imho.
Of course, it may be that MM does his other thing, stays in aus and yet pulls giant rabbits out the hat; I would have no problem with that.
In the meantime it’s made me think all positive, and I wouldn’t want to be out of these over the weekend.

Dreamingof, I agree;
Can’t understand why Troajan got suspended, don’t recall him abusing anyone or such.
The 12th Oct interview was particularly bad when MM said that we had a good September, perhaps there is an argument to be made in that we resolved issues for going forward, but it did leave me to think production was good.
As for an avalaible hands on CEO

See things, ….didn’t know how it came out destabilised lol

Pectin- the la Parilla (Iberian resources) subsidiary is the one where the big mine and processing is, there is not anything else operational- so for me that is at the moment 100% of everything and given the Regua semi processed stuff will go there and be processed all the ebitda anyway. If la Parilla works to nameplate that’s plenty, and it’s all the numbers the FID etc are based on. If we get gold going at Sao Martinho excellent.
IE yep my daughter lives in Spain and officialdom can get carried away with itself there, but the Spanish consider the Portuguese to be Byzantine in their procedures. However, I have been following the mining Portugal thing and there were changes to legislation and things out in etc, but the Portuguese see getting mining working as a quick way to get much needed money, so perhaps impetus there- conversely local opposition to mining on environmental grounds is not unheard of, but conversely to that the adits for Regua will be below the surface and the aggregate at the initial processing/ crushing site, will be used to reinstate the pit where there is a rather large hole dug for gravel for roads etc- well that’s how I u destabilise things.
If we get approval on Sao Martinho there a number of options perhaps, sell it as asset? JV to get it going at no cost- as has been alluded to.aimho.

Disco, it seems we agree on a lot.
If the Regua ore comes on stream (Q1 2022?) that will boost production numbers and require less room feed to get there because of the content. If we start getting nameplate numbers, and bearing in mind even on the numbers for Q3 we were getting ebitda positive, then cash flow will be good and show profitability- if that’s the case we can refinance and get rid of some of higher rate loan. Having the finance at the moment even at that rate is good, getting finance for mining at the front end ain’t aint easy.