Member Info for safetyman

I know it’s still far higher than last year, and all the metals were taking a hit yesterday. The trend is upwards overall, but you al2sys get a step back here and there.
In the meantime one hopes that we are increasing production on tungsten and tin. I wonder if we will get October figures. We may only get quarterly, which is reasonable by most standards.
Perhaps news on Portugal. Good news would be a good thing imho.

Was a clomping $2,000 down today ( lme), still left it at over $35,000 though.

Although I wear rose tinted spectacles, I doubt we will get to 175 tons next month. I would be very happy to achieve 100 tons a month for October or November, I would take that as a sign of increasing production. Mind you if we were to get to nameplate ( or two thirds of it)before 2022 I think sentiment would be extremely positive, however, I consider that unlikely.

I accept that I am considered to view things with rose tinted glasses. We have had some big issues to resolve this year, flooding and r3cent storms causing problems being the biggest. The recent power outage was not good. Supply chain issues too. The September figures were bad. All of that I can accept. Last night I saw on the telly about the floods in Germany and hour twenty people attending church walked down to a car park to move their cars and all were killed. Twenty personal tragedies due to unforeseen weather issues. These things do happen and it can be terrible, in our case it had delayed the mine and the other issues are being felt elsewhere eg supply chain. For me it’s about putting in measures to prevent or mitigate future occurrences of the same things. To be fair management are doing that. Moving forward we should seeing improved production, And I certainly hope there are no more unforeseen events. I feel once we get to 100 tons a month we will see positive change in sentiment.
However, it’s certainly the case thatMM said in his 12th(?) Oct interview that September had been good, and as he would have had the nines by then that would seem to be not correct, unless he had expectation that the quarter figures would be well received and thus by some strange logic September was in fact good. So that was poor company communication in my opinion.
I am now expecting better and more so intend figures for November.

Tungsten meteorite would be acceptable.

Kev, as I Understand things the original power was from the generators.then they got grid connection, which I think was cheaper. Generally, that for those with generation capacity, its not to say that you would solely run from the grid once connected up. I once worked in a place that had two submarine diesels to generate electricity ; these could be used to power the place, partially power the place, or even (if demand was low at the site) sell some back to the grid, also in the world of fluctuating price it could some times jus5 be cheaper to run off the grid.
Sometimes it not just about a generator being a backup to the grid, there’s all sorts of combinations.
However, it might have been (andIreally don’t know) that at Wres they had gone to reliance on the grid, that failed to some extent due to storms ( not uncommon anywhere in the world) and they ran the generators up and did not wrk well. That may have been that if they had not used them for a goodly while and fired them up they did not work correctly(( for number of reasons - wrong buttons pressed, start sequence, load etc etc) or if they were running in parallel with the grid there’s a question of synchronisation together, also you can get issues with power lag where the current is out of phase with the voltage ( where induction or capacitance caused b6 various bits of kit causes problems) or you can get an unbalanced load (by having too much demand on one phase or boosting on one or two phases in generation ) in a three phase system and in that case the neutral which is expected to have next to zero current ( the three phases would cancel each other out in a balanced system) could find itself overloaded by too much current.( gets hot and failure follows) just simply matching the phases from the supply and generator can be tricky
In essence, I have no idea why they had problems with the supply at the time, but I have known generators to have problems, I even remember a generator (used as a 440 converter) blowing up because the technician got the start up sequence wrong. There’s lots that can go wrong when running on a two supply system.
And don’t mention the tailings lol.

Well, I think it’s fair to say I genuinely hope we achieve your get out SP, that would be good news for all investors at this time. 43p would be rather spiffing, imho.

Aston, you mention ‘ steels screwed up,’ is that a recent thing or the problem that occurred some years ago? As for flooding in the area, I think there havebben storms issues widely on the continent recently- as stated in an earlier post: yesterday’s Al Jeezera news did a thing on power outages in Southern France (250,000 homes no power) due to storms. It seems you also would think the French were aware of the these matters and made contingency plans, after al they have lived there for generations.
No leap required there. I dare say you will have some other comments, especially as you have only just started posting on Wres -14 posts. Then again your syntax seems familiar.
I won’t be replying to your comments hence forth, but just wanted to point out that your post appears to be put together in, what I think is, in a style that is childishly antagonistic. Perhaps others might see it as fine piece of reasoning, but I doubt it.
In the meantime might be a good time to consider buying some shares in Wres, looks cheap to me.
Have a nice weekend.

Kev, there was a RNS a while back saying they had grid connection and it provided the grid supplier name. It’s in there somewhere if you want to trawl through the RNSs- it’s the sort of thing I remember, given my work experience.
If you have grid power and interruptions and simultaneously run up generators there can be synchronisation and other problems, so protocols and systems need to be spot on.
On the issue of storms, on the Al Jazeera news I saw that over 250,000 homes had no power due to storms . And also there are flash floods in California, I am amazed that Wres management had not planned for this and taken measures prior to the events that mitigated the damage. Shocking.( note what I did there with the electrical reference).
Anyway, issues have and are being dealt with, it’s lessons learned and moving forward that matters.

I meant to explain I have been at la Parilla in September ( not this year)and it was hot and dry.

I don’t actually mind apologising if I get it wrong. Facts are that the RNS was disappointing with respect to the September production. The electrical issues are not something I would have expected, and as I used to be a electrical engineer take a view that the back up generator system should have been spot on to cover for the grid. In fairness you don’t sometimes find the weak spots in a back up until there is prolonged running as quick run ups don’t always reveal all issues. With a bit more care it might not have been such an issue perhaps?
The rain thing was bad and would seem to me more of an unforeseen event, having been at la Parilla in September it seemed a hot deserty sort of place.
So yep dissapointed not to see 100 tons a month which would sign post and validate to the increasing production.
In the meantime it is about looking to the future , what has passed is gone.moving on, Ebitda achieved at La Parilla is good, electrical and wet ore issues resolved and still licence news for Regua and Sao Martinho. There appears to be some chunky buys which means some are taking advantage of the reduced SP, anything can happen as is evidenced and change things quickly. Looks like there are some like me that wouldn’t want to be out of these over the weekend.
Anyway that should provide a nice word count.

GUG, you are correct that incorrectly posted production as 220 tons when it was 192 tons. It was 220 tons of tungsten and tin that was shipped. My apologies. It is after all, only polite when you have put so much effort into posting and posting and posting, and all for no particular reason.

Number of posts with a large word count from posters professing to having no interest in the company and in some cases a profound dislike.
One wonders at motivating factors ………..what would Hertzberg or Maslow build into their theories ……..
In the meantime, I thought there were disappointing production figures for September, the 220 tons for the qtr was less than expectations, certainly mine and it seems management at Wres. Mind you the high metal prices offer some solace, if only we had lots of metal to sell at these prices, things would be more positive.
The electrical supply issue must have been a bit left field and the supply chain issues are a global thing.

Ie Have a nice celebration.

Oh dear safety. The 220 tons shipped at current prices is greater income than higher production at lesser prices. The RNS says Ebitda is positive, if it is a lie that would be very serious, so it has to be accountable and correct. Hence the Ebitda is positive.

180 tons of tungsten and 40 tons of tin shipped Q3. That’s 220 tons at prices higher than quoted by shard. That would enable the comment on the ebitda in the RNS. If we achieve the new lower target figures at these prices (or more) we will meet with ebitda going forward.

It is totally irrelevant hen someone’s account is setup. Especially when they make large postings when the company releases a poor RNS, and particularly when the poster says they wouldn’t ever invest as they have no interest in the company. Yep totally valid.

Tin was up another 500 on LME according to Bloomberg

L200, you are correct. I was comparing a huge company ( I chose GSK as I have followed, invested, and otherwise been financially interested in them for 30 years), with a far smaller one. However, GSK have huge accounting resources etc, so could provide if 5hey decided too, in my opinion. . I was merely pointing out that if qtr results are not published within two weeks it is not necessarily cause for concern.
On MTR what may be a more similar sized company I keep an eye on, (they are involved with mining), I am not aware of quarterly reports.
It is my opinion that we have been getting a great deal of reports, more than most companies it seems to me.
Very believable !

Troajan, I would say Wres are very good at reporting. I follow Glaxo a bit, their last qt results were 28th July. We have had monthly as well.
It would be of some interest to see our figures.