Member Info for safetyman

I noticed I treble negatived there. Meant to positivitate. Grant paid! There were those that doubted this would happen ( even though it was a clearly stated arrangement and mentioned in RNSs).

Blue smidging

That grant has made for a cheery Monday for me. It is one of the good things that we can get this year. Now good news on increasing production would be a reasonable expectation. Still to come further news on, PIK from Blackrock for now, resolving issues from the flooding in Feb, licences in Portugal, output of hire quality ore from Regua, Gold from Sao Martinho, refinancing arrangements, increasing metal prices and perhaps even cheery posters. Still much potential for more good news as we go forward.
At the end of the day, we cannot say the grant has been paid, contrary to the view of some that this would not happen.
If we get a rush of good news,what might happen.....

Hope your health is getting good. Have a nice weekend.

Hawaii, I agree with much of that. For the refinancing, I think that’s very achievable, but requires some good production numbers on the table- so may need a quarter to get that. Very short term a PIK from Blackrock would perhaps be best of other options - if offered.
With regard to MM, he might be wealthy in my terms, but I don’t think he is that much so. So his investment here is considerable in terms of his portfolio as I understand things - I do not have access to information on his personal financial situation and go on what he has said on the matter.
With regard to improving production, that is described in the RNS and the numbers although not indicating an immediate big increase, point towards big improvement other two or three quarters.
Stick on top of that increasing metal prices, grant waiting to be paid and licensing from Portugal its looking good, especially if you’re able to buy at these prices.
Given stocks on mining can turn on a sixpence, we might even get a sudden upswing. So for me glad, I am not out of these over the weekend.

of blue....arrrrrrh.

Is up yet goodly more on bloomberg

Could have been twins with a psychic bond.

MIB, it seems you burn with rage. Personally, I do have a noticed tendency towards the optimistic although its more than a tad less than I expected at this stage. However, I do think it will come good abeit delayed (everything i have read shows mining start ups to always be horribly delayed), so I am happy to wait. Please bear in mind your financial view of current pain is felt considerably by other investors and certanly the BoD, not least MM. many companies do not see this level of BoD commitment.
My opinion is that we meet with the RNS where it said :
Production Guidance
As a result of the Plant Improvement Programme the team has more confidence in issuing a production guidance for 2021:
· The Company expects annual production of concentrate to be between 880t and 1,000t
The number of 24h working days per week are expected to be:
· Q2, 5 working days a week · Q3, 5 working days a week · Q4, 7 working days a week
Ore constraints have necessitated a delay in the planned introduction of working on a 24/7 basis until October 2021.

I also think if we can start to string together some good production numbers we can get PIK on debt payment to start ( best option for finance, as in last shard report), then grant payment, then moving on perhaps a loan facility at less punitive rates to redress the high interest currently paid. Moving further forward, there is the potential for licence approvals in Portugal and metal prices are improving.
I wish you well in this investment, your gain is my gain, is also BoD gain , MM gain, the workforce at la Parilla gain, Extemedura commercial gain and other investors gain. Everything to be gained by many interested parties, the ore is there, the plant is there, the licence is there- so much still to be gained.
Hope you keep well and I genuinely understand your feelings on this.

Dreamingof, personally I am not bothered at all by the lack of a Qand A session. However, it does look like a rookie mistake to have sailing o do one and then it doesn’t happen.
With regard to the RNS, that they have stated what’s going on and that the expectations were honest at the time they were written.
Moving forward, I would like to see; the Q and A take place as is only correct given the stated intention ( now overdue), and the Website properly updated with relevant and up to date information.
Notwithstanding, all other and previous issues, like many I wish I was buying now at these prices rather than when I did. Looks like a bargain........and the increasing metal prices , are making me optimistic( can’t help myself on that).
In the meantime what matters is wha5 is in RNSs as we progress.

Regua ore, given its higher levels of tungsten would certainly add revenue and working increase at scale with the on site la Parilla ore it should certainly be rather good. Given the increases in tin price and tungsten also good. So the Regua ore would be most welcome.
Looking good going forward.

Bermuda, that’s a nice price and rising.

Dreamers, I had a butchers at almonty’s website and they don’t seem to be quoting the tungsten or apt price. I do know it’s a bit of difficulty capturing a picture of the mtu price, I can’t seem to get it. Perhaps it’s a secret thing!
Would be happy to hear that it was over $300.

Dreaming of, most of the sites charge a fee for access. So I reckon there could be a touch of copyright litigation issues. Mind you, if they could would be good. However, I would like to see the website updated regardless of that.
Tin price would be good too.

Seems to be confusion by you from my point of view. Firstly not trying to brag, so apologies if you felt I was, I was merely trying to explain that I knew where the la Parilla mine was, as you had said it was elsewhere in another region.
By fully reading the sept and June RNS, it is clear; mining started at Regua in Portugal ( a separate ore body that is actually very high grade ore) in March, but was halted and is now waiting a further approval, it is clear to me: however, you started yesterday posting on the subject and completely missing 5he point about the approval. So to me it seems you are confused. You have previously referred to the P in PE as standing for ‘ profit’ which it does not. So again to me you seem a little confused. Or perhaps trying to mislead.?
Anyway why not try and see how many posts you can bang out today, especially as you are not invested here, have no interest in the company and only do it for some reason I don’t actually understand.
Have a nice day.

I am not a tamper. However, I am an investor and have even visited the main mine at La Parilla, which is in Extremadura, not Castile and Leon as you had located it in your attempt to use rainfall figures, it is also in Spain and also not Portugal.I mention Portugal as it appears you were confused over location at the weekend.
As to mining works commencing at Regua ( which is in Portugal), yes they did, under the trial mining licence, and once again I shall explain, mining was halted- so in that year wres had started Mining in 2020 at Regua as the RNS in September says. However, I. The earlier June RNS explains mining at Regua was halted and required an extension to the trial mine licence to restart operations, this extension was applied for- there has been no RNS to say approval has yet been granted, therefore it is still waiting.
More general reading shows there was changes to legislation on mining in Portugal ( Regua is in Portugal) , this has added to bureaucracy and combined with COVID delays in approval to mining operations , not just Wres.
So without aRNS on approval it is clear this not yet been given.
I trust this clarifies things for you in terms of geography, rainfall and licence approval.

GUG. Good to see you’re started quite early after the Bank Holiday. I find it quite rude that you say I posted rubbish. My view is you seem to get quite upset, and what I posted is correct. In the interest of ration.al argument, I should explain my explanation from yesterday ( should not really be necessary):
1) RNS June 1st for the Final Report the year ending 2020, refers to the trial mining APPLICATION at Regua. As there has not been a RNS saying this has been approved we can take it that it has not yet.
2) RNS states that as mining had started in March and then was halted because of COVID restrictions an application to extend the period of thee trial mine licence has been submitted. So In terms of detail, it is the trial mine extension application not solely a trial mine application. However, it is the same thing. We await approval. Fact.

What on earth is all this chatting about borders with Portugal? In terms of Regua shipping ore to La Parilla the relevant impediment is waiting the trial mine licence ( essentially the licence to dig up ore, for about 5 years). There are other companies having trouble with Portuguese bureaucracy as changes to mining legislation ( I think it was 2020) and COVID throwing a spanner in the works of normal bureaucracy. The Portuguese govt are keen to get things working across the board as it’s a fair bit of revenue from various mining enterprises they are missing out on.
So any delay to the rich ore from Regua is due to that, not borders, nor MM having failings or the BoD not getting there finger out, not lorries or anything like that.
You can read RNSs, and there is now the worldwide interwebnet now being run over the telegraph by the GPO, you look stuff up on it.
It is straight forward issue that is Portuguese issue, wres and others wait in the wings.
I am sure the BoD will look to progress the trial mining licence, the Portuguese to get things running and the contractors wanting to get work shipping. I look forward to the very good news on this when it starts, as it will.

Dreaming of, that’s a well reasoned post. And I would agree with that, albeit as you know I have an optimistic outlook.
However, I think GUG.s postings to not to be so reasonable.Mind you he has been posting since 0700 and all day long. So if his reasoning seems to be drifting a little off it might be fatigue on his part.
Certainly cognisance can be impaired through tiredness, people can even lose their sense of place and direction with things like where La Parilla actually is or what the ‘P’ in PE stands for. Poor guys been on the go for 10 hours today. Imagine if had actually invested here, phew. He is not even interested in Wres.

Some people profess to know how much down or up others may be. I can honestly sayI only I have a very rough idea. I have, I think, been nearly that, but then again am sure I am in a better position now. To be fair though I am down. I have also been down on other shares too. Also up. My original trading pot was 800 quid. It’s more now. Funny old world...........and I post here because it is actually where I am most heavily invested. By the way me Lloyds are improving but I don’t post there.