Member Info for safetyman

Seawolf, completely understandable view point. Lack of faith following lack of delivery understandable. Personally, I feel events have been unkind and I include suppliers not providing some kit not fit for purpose.
Moving forward though, with the stated shipments for three weeks and more to come this is more positive and very hopeful. Definite improvement, That is just based on activity at la Parilla.
The Regua ore is subject to licence and that is an issue in Portugal at the moment, so got me that is the truth from 1st June RNS- if that gets resolved,super. The same would be true of actio on thrr eg gold at Sao Martinho, could be very super.
Prices for metal increasing and forecasts positive.
In Iberia, I am sure you are aware, it can get very dry and wet things cease to be so in summer.
We have been through a prolonged period in the doldrums, but I think we can get some wind in your sails. In fact I expect very good progress indeed.

Shipping levels and production are to be welcomed. However, not by some it would appear. Funny old world. Personally chuffed at the clearly increasing production demonstrated with more to come. The mention of achieving predicted T2 levels makes ma of good cheer.

Dreamingof, I told you once we get positive waves things will improve. Nice to have you spiritually onside.

Smidging........more to come?

OMR, certainly seems that attempts at undermining has been taking place on this board, so perhaps that was the reason for the name. It was created, it seems, solely for negativity on Wres.

Mppotus, we are waiting for licence from the Portuguese bureaucracy. Reading into it there were changes in mining legislation last year in Portugal and some other companies seem to be having somilar experiences. However, within that there are actually grants available. The RNS 1st June refers to waiting for the trial mining licence, which is in fact a five year mining licence ( as I understand things). We are all set to go and contracts are in place. I also understand the Covid situation has contributed to things getting done in Portugal. So I have some expectation on good news on that, this is conjecture on my part, but reasonable from what I could find on the matter.

It is true that in the interest of clarity we should not obfuscate. A simple fact like 59.3 tons shipped so far this month, looks good to be an improvement to me and being told more to shipped too is welcome.
If this rate can be maintained we could be hitting 80 - 100 tons a month. If we can keep that as a bottom line then improve on it, the stated purposely conservative estimate in the latest shard report would be just that. If we stick increasing metal prices on top that’s looking very rosey. Given we get a good quarter we can look at refinancing perhaps. The grant, we are told, is to be paid. If the Portuguese get their bureaucratic finger out we can get the high quality ore from Regua and develop on the gold at Sao Martinho. I am feeling quite dapper, indeed I am glad that GIT would not want to be out of these over the weekend. I also do realise that there will be some that will want to reword things or redefine but as Kipling said, If you can bear to hear the ......

Troajan, of those Ecr looks promising with directors investing - I take that as a better sign than when they don’t
However, I think the Wres gold play might better. Then again the Portuguese bureaucracy looks perhaps problematic, whereas Aus is all for getting mines running In my opinion. If things were a bit different I would take a tilt on Ecr as well.

GUG, you again refer to school, this time for rodrod. Clearly, something happened to you at school that was formative.
These things can lay in the mind. Perhaps it was the malt they used to dish out, that was something of a weekly trauma for many.
Events in our childhood can often be referred to where there are unresolved issues.

Troajan, I do know that helium is a finite resource, they ain’t making any more ( well the Sun is and nuclear fusion will, but we can exclude them). I think the moon has got a fair bit which makes it economically interesting. Could be really good as they have trouble finding it. However, I ain’t too much in the mood for a big ole risk, might take a look and small punt , is there an expected bagger multiple?

Rodeos, it is a bit funny how posts get removed or even bans occur. I think the admin have a special criteria. It might be if you criticise GUG, those ones seem to go. Mind you in the interests of balance you can insult me and nothing ever happens.

Troajan, buying arb at 3p .... that would have made you even richer than you are. It goes to show gains in SP can be quite surprising on AIM. Wres has an improving period coming, but I think it won’t improve As much as arb this year.
If you get tips like that, please share going forward.

Jaf I have noted you have posted once again on this bb. Hope you’re keeping well. I must say you did ok with your selling off at the time, my view is that ground will be recovered and more.
I should like to say you have always tried to get facts correct. So a comment on your comment on K3. Yes he did get his predictions wrong and freely admits that, they were estimated predictions and not statement of facts. However, where k3 referred to GUG’s information they related to GUG’s factually incorrect postings on matters of actual reality ie the location of la Parilla being in Castile and Leon ( it is not) and the P in PE ratio standing for profit ( incorrect). So for me there is a difference in predicting it wrong compared to presenting incorrect information as existing fact. Therefore, I think your views on this specific post not valid- whereas before you always used to like and check facts, which was reasoned and correct.

In the report they say they are being purposely cautious, so they are aware of previous overly optimistic predictions or expectations. So the implication is that the predicted figures are at the lower end of estimates- and these are based on actual production figures quoting both quality and quantity. Personally if we get to the cautious 23p that would cheer me. Also I note they refer to PIK for Blackrock, now that would be a good thing if it’s required.
Also bear in mind if production increases nicely there may be refinancing opportunities.
Also it says payment of grant.
It’s looking up inmho.

GUG. I take you mean me. Not the only one though. I can remember there were sometimes children that kept calling names and involving themselves in discussions and getting quite obsessive in their behaviour for no reason that made sense. Lol. Children, what are they like?

On your other point GUG. I have gaps in my knowledge on some things, but I have a fair idea on some things e.g. what P stands for in ‘PE’ and that something that is in Extremadura cannot be in Castille and Leon.
Mind you I have no idea what others have done with their holdings, and on that matter I would defer to your knowledge of when they sell and buy and for what quantities in respect of holding.

Fair does there GUG. I didn’t know we had that report. Looks good to me though.
I liked this bit: Discussion. We see fair value at 23p/sh based on a blend of NAV and forward EBITDA, indicating
that WRES is trading at 0.48x to our risked NAV. This reflects our cautious view of ramp up as W Resources still has a challenging year ahead to bed down the newly optimised La Parrilla ..WRES aims to
take the project to full T2 production. We model a conservative flat forward tungsten price of $260/mtu. Note that a mere 10% increase in our price assumption would increase our target price to 35p/sh, details in the note. Whilst WRES has had a very challenging time since project start up, it finally looks as though all the cogs are falling into place. The major recovery issues with the plant appear to be rectified and once the water issue is resolved the higher-grade ore should be accessible. All that remains then is to ramp up ROM throughput and maintain stable operations at a high plant ...,.

GUG, so you are saying that if we run machinery for less time, use less fuel, less man hours etc the total open remains the same?
Anyway, you go round and up your circles if you like.
Did you refer to finding the shard report today. It’s been on the website for a few years.
Funny old world.

Opex in shard report is for full working and 2000 tons. Less processed and less available plant time and less man hours is less opex.

Grant to be paid H2 this year , it’s look uperble.