Member Info for safetyman

Go shoot some grouse.

Stealthy, whoa there boy. Little less enthusiasm there mate,all this saying hood morning can be hard work. . Hope yer well etc etc.

I wouldn’t want to be out of this over the weekend.
Boythorpe, how is it you arrive at your figures? Have you binoculars?

So dreaming..........perhaps tomorrow then.......

RNS this morning at 10:00 would be nice AIMHO.

People are finished work. I think I should say I wouldn’t want to be out of this over the weekend.

Public option in SpAin is hugely opposed to more lock down. My daughter tells me it is almost outrage. So a big lock down again, I don’t think so. Nothing spurious at all. Speak for yourself.

going underground, look at the number of fatalities use the Worldometer https://www.worldometers.info/coronavirus/
The number of cases increased again but the fatalities increasing less are just a few and not hundreds (i think its just over 200 since june). could be that the virus has mutated in that the more deadly forms kill or seriously harm and those victims due to hospital dont infect so many whilst asymptomatic lesser harmful spread, masks and other precautions reduce viral load at point of infection, some herd immunity occurring (it has to if people have had it), more people taking vitamin d, treatment with steroids for the more serious cases, vaccines now in phase three trials, also i think a lot of people have had it- a work colleague had it (antibody positive) and a few of us got ill at the time and we are not on any figures. Also look at no lock down in Sweden and the numbers there, they have been no worse.
My daughter lives in salamanca lots of her colleagues were ill in Feb, she too and has antibodIes from the test, it has passed through once already,
Also watch Dr Been, Medcram or Dr Campbell on utube, great information from people working in the area.
So for me, thats where I get my information from, and yes I thnk we are ion the road to recovery.
Also take note of fatalities in India, Pakistan and S Africa - abject poverty with fewer support than us, deaths are much lower than expected. So I think we are over the worst of it thank God.

Well no argument about the parlous SP, in fact I was very worried, but knew that stuff was happening. Since the Blackrock RNS and a level of clarity we now have, I feel a lot better about things. Yes there are hoops to go through, but Covid lessening as an issue ( herd immunity through not just blood antibodies- mucosa system, previous infections, bcg etc). And the honesty of the brief I really am OK with the way forward- yes the the SP is a horror show at the moment, but some bags of tungsten can change that very rapidly. Economies picking should see metal demand etc etc. Yes the SP could drop some more, but medium term great potential imo. ....... and who knew grant news, gold joint venture news, pick up on production news........In the meantime the plan as laid out is pretty good - yes I am disappointed because this 18 months overdue for this position with the mine, But that is yesterday’s news. Money lost is gone, it’s about what happens next.

Going underground, as I see it we have PIK on Blackrock for now and the option on the November payment. We are, and will be receiving income from Tim and tungsten production. So Thats a good start imo. If we need more there are other options including the Atlas option if we need it.
So I see that as being funded until next year. If production increases in Q3 and Q4 that can come to a fair few quid.
The grant money is also yet to turn up and there will be much local political and community support for that too.
So that’s where I get my ideas from.

L200, thanks for the advice. I had no idea going underground has more information than me. My assumptions , rightly or wrongly made, are from what I see things to be. Yes still risk, but as stated I am a lot happier now- we are financed through to next year, the grade of product is high, we are increasing production, we are remediation the now known problems with the plant, the grant is still to arrive, more tin than expected from processing, Covid looks to be in retreat, MM is now improved with communication, new management has and is improving things, the gold mine at Sao martinho could be a joint venture ( low cost), plant operational 3-4 days with other days used for upgrade and remediation etc, Customers are buying- albeit an APT price increase would help our concentrate price. Actually now would be the time to buy now rather than wjenI have and tied up too much for too long at a loss. So yes, I can be wrong, but choice to buy is mine based on what I see in front of me. If I am wrong now, it won’t hurt as much as it has so far. If I am right then it’s rather good for me.

Well if the SP don’t move or drops I can start buying some back over the next qtr. if if it stays at these prices I will pay slightly less than I sold for ( which hurt to do at the time). I think we are in a reasonable position to buy. The dilution is not a happy thing, but it does look like we can get A much improved SP.
Given the recent information on knowing where we are and the very low SP, it looks like a buying time to me.

If we are getting 70% purity that is a stinking good sign imho.

the phrase is used generally, particularly in consumer legislation, so there is precedent, it is also widely recognised. As its in UK legislation under the consumer act it will also be in EU legislation somewhere too. ....heres a cut and paste. .....'It is not fit for purpose'. That’s a legitimate claim as long as you are using the item for the purpose for which it was intended. This is the principle of fitness for purpose. There is no point claiming that paint thinner has had adverse effects if it is not being used as paint thinner! Similarly, if you are commissioning the manufacture of a product and do not specify the purposes for which it will be use
we are in a strong position. this is beyond techincal issues, 'not for purpose' is very a strong point for negotiation. If you have as strong hand of cards then play them ....they wont want the aggro.

we dont know what was in the contract with regard to the the mill. However, to take a firm line on 'not fit for purpose' puts the the customer (us) in a very strong position, that goes beyond what was in the contract, no more should be said at this time as it could effect the position were it to go to court-......... going, or not going, there is a strong bargaining position.. On this matter i am clear that MM should say no more until it is resolved. Given that we now have confirmation that discussion is taking place is good news.

Honest and nice to have good communication.
Initial benches were lower grade (Kev and I had suggested that on this bb).
Plant not fully available at the moment with only 3 to4 days use, but this is increasing as the other time is used for upgrade and maintenance etc, ... good to see clear explanation on that.
The financial aspects were Clearly explained .... good to see that. Gold, Regua, Etc etc etc
Overall just very good to see clear communication.

Tin is up $18095 and Gold is at $1983. It’s an up world.

My worry was making payments. Longer term we are, in my opinion, going to be very successful- getting there was my major worry. Yes not ideal, but clearly a way forward which provides some surety, but that ain’t a bad thing. Fair bit of faith from financial institutions in these timed is a rare thing.
So actually I am happy with the news today, albeit disappointed we are not at full production by now cos that is way overdue. Then again is a start up miner so pat Goethe course.

That do not want to be out of this over the long weekend. There are those that notify a sale of 5 million on Thursday that has a minor negative impact on SP.... yet today it appears it never happened because it gets minus, but in an unknown way. Happens a lot here. Funny old world.
Despite all that I reckon we got some positive news on the way.......
Kev, my back gives out a lot, the old hiking sticks are a life saver.

My questions would be:
Any sign of the grant on the horizon?
What is the expected availability for the equipment per day over the week and can we assume 80% utilisation ?
What are the expected month by month production figures likely to be from Sept through to April 2021?