Member Info for safetyman

Blue is good, up is good. You wouldna wanna be out of this over the weekend. Perhaps that news this ways blows.

Excellent! That’s research omr

We are a way back from where we should be in terms of production, we should be banging out at T2 levels by now and should have been doing so for some months. So very disappointing. From what I read the majority of mining companies do not get up to full production within timescales (no excuse , but it seems to be an industry standard). However, if we can get rocking as is stated in recent Video/podcast by MM the world changes.

If producing, the intended aim to refinance the Blackrock loan at better rates becomes achievable. The first year payment to Blackrock was set up to be PIK, and the second year 50% PIK, those were built in.

We, in my view, should have had the grant money now - MM stated that it would be needed at the critical start up phase, but it has not arrived so the BOD have made alterative arrangements in leu of that - so , yep, not great, but certainly in that context good to make a facility available, to not do so would be management failure.

I always expected low initial grades on the tungsten ore and thus lower recovery to start. I also picked up that higher grades were available once through the initial benches and that there were higher grades as we moved across the site.
From the Shard-ARC report; 'La Parrilla’s resource grade is 0.099% (998ppm) which is relatively low compared to peer deposits which typically grade 0.15%-0.30% (1,500-3,000ppm). However, recent drilling by WRES in the T2 South area has
delineated a thick, high-grade zone which is expected to boost the grade to around c.1,300ppm during the first 2 years of mine life and 1,140ppm over the initial 6-year LOM. Grades must be put into context as head grade is not always
a good gauge – for example, La Parrilla’s feed grade to the concentrator in T3.5 is 3,000ppm (2.5x upgrade) due to simple upgrading in the pre-concentration stages.
Metso ****ed up the steel work initially, and then the jig and mill itself, if there is recourse on them, no doubt it will be byzantine as a process.
Given the set backs we are doing well, we are still there and we are ramping up. Now if we get trucks trucking, everything becomes very upward imho.

Obone, Congratulations on getting them so cheap.! I and others have paid much more for our shares. Wish mine were got at this price.

Getting a finance facility means that someone did some due diligence before agreeing to it. So there is someone that makes decisions that thinks it is a reasonable investment. Getting that at a time when the world is in chaos and seemingly without solution on just about everything that’s not bad going. Not having to use the facility for four months snit too bad either imho. Making sure it was there ahead of time was a good move. To be able to sell production at this time is good. Getting Regua going will be a good thing. The yet to come grant will go nicely towards paying some debts off. So seems good management to have a facility, quite a good thing to me. Would like to see more production of course, who wouldn’t? I am sure we would all want that.

Is not the only company in the world at this time that is undervalued with tremendous long term and ongoing potential. If we get the grinder and milling and separator and concentrator all going proper that becomes tremendous short term potential imo.

For up to 5 million was arranged prior to needing 500K. There is a point of view ( well mine actually) that making sure you had that to call on was shrewd business, after several months of Covid crisis only requiring 500K ain’t too bad.
Getting Regua up and going is wise thing, some money spent there should increase production nicely.
MM doing an interview is not of much help unless As Kev says; we have some production to boast about.
Gold $2040, having dibs on a gold mine resource must in itself have value. I agree with MIB On the expectations on that. Metals generally up to day, And still interest in buying, SP held up after the RNS.
Now if we could just have a coconuts in bags Going up the road RNS, most excellent imho.
.

Rising would be good imho

36 degrees C in Merida. I wonder if warmth helps doings.

Is now at $18013.

I totally Agree on the two new management Apponitments. I had already expressed my view that they were needed and add that in the case of Pablo he is himself invested- so as local business man with all that goes with that, he keeps his buy in to the company and now adds his time and effort.
Also note some buying today, are bottomed? Are we going to go up? Is there positive news in the wings? Certainly hope so.

Metso, sausage fingers.

Has the jig and mill as part of its doings. That was provided by Metdo (Portuguese and the stuff was built in France.) so if it’s had to be doohdahhed it’s not the fault of the Germans imho.

Inki, I would like to see you proven wrong on Wres and your health improve so that you get to see benefits from investment including with your grandchildren for a good while. Without health for ourselves and families everything else is of no consequence.
GIT is honest in his views as he sees it. I also see much potential for a positive outcome. The only thing I can say for sure is no one knows what is around the corner, I still find myself amazed at the unforeseen twists and turns in life.

Inki, I dare say you would be much happier For your forward projections on Wres to be proven wrong. For me there are things too, I Long for my views on Bexit to be proven wrong. Conversely, going forward I would like to be correct on Wres and, of course, you wrong. You comments on the narrative so far seem to be Largely borne out.

Inki, I take what you are trying to say is you don’t have a wholly positive view .

Nmh, I would have you know GIT’s school was approved and was an establishment of some renown. Also GIT was put on a list. I think they credentials are somewhat admired in the area he grew up in.Although living And growing up reasonably nearby I was brought up in a different area to him. In fact I grew up on an estate. Which is why I am so much posher.

Golf pro, we are getting money in and we didn’t have to use the ‘facility’ so that was good. I think we ain’t too far away from break even on the money for what we shipped in the first three weeks of July. So I think that’s better than some have viewed it. The SP has fallen because of some LTH s selling out, That will knock things, they cant sell out again, they might even come back with news. Now some good news next week would be rain on some dry gardens.
All in all though o liked the numbers from the start of July and tungsten production will improve in my view, we have enhanced concentrator, modification and replacement on jig and mill, and better quality ore, also high quality ore from Regua to come. Looks undervalued to me. And I didn’t mention the gold again, or the grant money.

Dreaming, what about the halcyon days of . 5 .................,...and expectations of multiples thereof. Now if we can get to 1p............

Dreaming of, with regard to the $5 million grant, if it should rock up and it’s used to pay off debt that is good news. With respect to the better ore, It was always my view after the site visit that the first benches were going to be lower grade as we were shown the higher grade area which was further back, so although I would like us to be producing more I felt the first stuff was not going to be great.
That was not a spin, it’s just a view based on what we are told and what I think. At the end of the day I doubt anyone makes an investment choice from comments on the board anyway. Given the Covid crisis lots of stuff looks high risk, but could be much undervalued- I think llloyds look very cheap too.
Also to be fair to me ,I did say I hadn’t mentioned the gold.