Member Info for safetyman

My take on this s that sometimes a man has got to do what a man has got to do. The BOD would have considered options and considered this as the lesser of the evils. The resultant fall out for this no doubt be a dropping SP with outraged investors that may choose to sell and other negative effects taking it down below .8p. At this point, if it occurs, anyone will be able to pick up shares at less than the BOD etc paid at the placing. Thus they can get them for a better price. Mind you it is harsh on existing holdings.

I thought there might be a RNS. Painful though as thss is more with warrants. So the dilution will be felt by everyone with holdings, that includes the BOD. I think it’s reasonable to assume the SP will be dropping and those so interested will be a able to get shares at the placing or lower price. I don’t have a particularly happy feeling

The Q&A session is tomorrow. To call it a disaster before it’s occurred might be considered as a somewhat biased view.

I have, like many, been almost entirely virtually working ( comments on a postcard please) for months. Meetings or presentations can be arranged right up to the moment, the important bit is knowing when it is to be. We know when it is to be. At a guess It might be a lot easier to send all teams or zoom invitations at one hit, nearer the meeting time facilitates that more readily. So for me, I am cool with that.
Also news on Hemmetdon today then............so perhaps news for us.

Let’s see what Monday brings.

That’s a well constructed response. Big well done.

For sure Ponfers.

GUG, in the interests of clarity. The conversation stream was ‘Sorpio’ in which troajan responded to Scorpio on what companies he was in and then Scorpio responded to Troajan, my comment on companies was in the stream ‘ endless’.
So K3 was stating fact that you then said was K3 twisting things. I think you have got that rather wrong. I have always found K3 to be straight forward. Your comments appear to erroneous, I trust you find my corrections helpful and receive in the spirit they are intended. Oh and have a nice weekend, if you’re not too busy.

Dreaming, I thinks it’s all mineral Germans kit, although I think some of it might have got assembled by the Citroen type makers with some bits of manufacturing in France land.
There was mention of not fit for purpose kit, and so that implies something is doing on redress, but we don’t know what was in the contract and if it is going to court that could take a while or even go all Bleak House story. Would be nice to get redress or news of it though.

Well, that’s a good point Sorpio. Lol. Not being defensive here, well I suppose I am, I have held here a long time, yes I am down, yes I have expectations that will see me good, yes I wish I was buying now ( but fair does to meself I have sold some for more and have bought some at these prices) and Ihave over 30 thirty years held lots, pilkington, bp, Rtz,Bhp, Lloyds, kalgoolie, b&h, blacks leisure.....etc and some I revisit and in and out etc. BUT, none have ever invited me to a Q&A or a site visit. So accepting my limitations I would say Wres have been far more communicative to me than any other company in thirty years.

My understanding is that production is increasing. We should find out more at the Q&A presentation, which Wres are putting. Well done to the management team for doing that, lots of companies do not.

I do too.

Waffle, and better things to do than attend the presentation. The view taken by a non investor. Clearly, indications of someone completely disinterested in Wres. However, efforts made to post repeatedly and daily indicate the contrary. Disingenuous is a word I sometimes consider, as is motive, agenda and issues.
Funny old world.

I should also that If doings by Atlas were yet to change things in the future that be an affect.

Good morning investors. Troajan had you bought today you could have done better than getting in yesterday, but such is the fickle way of SPs. Perhaps some selling or doings by Atlas having an effect. GIT, you did say it was about now they might well do doings. Whatever the whatever is, it does look like a cheap buy price to me.

Dreamingof, thanks for the pointer on that. I had to go back and read through to satisfy myself on my understanding. I found the relevant part (copied below) from the October Q3 report. The lower grade ore that was partly oxidised yielded less tungsten and higher grade fresher ore was processed- now this is in line with my understanding- the extra drilling was what identified the higher grade ore. From my visit and conversations with Fernando the impressions I got was that the initial benching would be lower grade ore, but that as we worked back (you have to get through the first exposed benches first) we would then get to higher grade stuff as yet unexposed and fresher and also to get to the ore Fernando and his drilling exercise had uncovered. (i can honestly say that I have said this in conversations) . So in my view, it was not drilling in the wrong place, however, the initial benches with lower grade ore did not yield to expected levels and fell short of expectation,. so in fairness to your view it would seem the evaluation of the initial ore body and the capability of the equipment to process that had not been correctly calculated.for the kit as it was at that time (there have been subsequent modifications and changes to processing) It was about the ability to process then, not drilling issues.
So for me I am optimistic for much improved outcomes, we have flooding to clear,increased availibilty at hifgh utilisation of equipment and will be able to access higher grade ores, also potential for Regua ore.
Any road up here is the extrasct i referred to from the RNS:
The enhanced process control and maintenance improvements increased plant production and metal recovery in the quarter. The team also fed fresh unoxidized ore into the plants, which is known to generate less fines and achieve better recoveries. This had a positive effect on production in parallel with the process improvements and increased metallurgical recovery.

Steven, I should explain. I am invested in Wres, I been to AGMs, know other posters and have met some of the directors, managers, other investors and mangers on site. I have also visited the site; so you can easily take the view that my expressed opinion is biased. In the interests of balance I would say that can be taken as the case.
Conversely, with regard to GUG and his postings; he professes to not like the company, certainly negative towards the BOD, states he is not invested and is unlikely to do so, sees little chance of improvement and takes a critical and sometimes incorrect stance ( e.g, where la Parilla actually is). He likes to post a lot sometimes double figures per day, and on repeated days.
Personally, I would not bother posting on a company bb I am not invested in, it appears GUG does not hold the same views on that as me.
Therefore, when you read our postings you may find that there is little agreement.

Dreamingof, I am bit confused on your comment about drilling in an area without due diligence. My understanding is that the drilling took place to establish where the ore is. Drilling is de-facto part of due diligence, the information from that is then analysed to establish where to mine. I think if they had mined an area where there had been no exploration drilling that would have constituted lack of due diligence. Exploratory drilling, is just that and not an enabled process for where is ore own to be.
There certainly was a lot of drilling of a further extended area after the mine was starting to be established. This took place at the behest of, Fernando de la Fuente, the then mining manager and a geologist with much experience of the la Parilla site. Fernando took a reasoned view, based on his skill set, that given the geological structure and type together with where and how the scheelite had presented that this particular extra area would bear ore. Following that a further 50 exploratory drill holes were made, this did get a bit tense as the first forty didn’t come up with any postive results, then they did and there was found to be a considerable ore body. This was explained to me by Fernando when we standing on the area with the positive results and Fernando pointed out the visible scheelite that was presenting. So in my view we drilled in the correct place and drilling is an exploratory process. However, I may have missed something and there has been an RNS saying they didn’t do due diligence and were drilling in the wrong place, in which case I stand to be corrected.

GUG. Now that’s production. I think it’s 11 posts today alone, starting at 7:15 and still going on last count at 18:36, on a bb for a company that GUG does not like, professes to not like the management or the outlook for and would not invest in. No other posts on other bbs. I really think I should look into this, it must be be quite exciting to spend all the time expressing negativity on something you’re not interested in. Blimey that’s a lot of effort and respect is surely due to someone wanting to take the time to do that day after day. Truly remarkable and worthy of accolades. There is a special Essex one that I have for such admirable qualities.

With flooding issues out of the way, and they really should be by q4, and 7 days a week 150 tons really is a reasonable expectation. To be fair, the flooding issue was not expected and we were starting to improve prior to that. Between now and q4 we will be moving in the direction of more production, how quickly there’s progress on that I don’t know. If it gets accelerated then obviously earlier. If Regua licensing gets sorted then even sooner.
Going to 7 days a week by q4 signals that there is an expectation of the plant being fully available for operation - (we have not been near this level previously) then add to that utilisation on the system was quoted at 84% ( which is a goodly level for most systems) it really is looking promising for levels of output.