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I never mentioned 100 tonnes anywhere

So keeping it simple then. How much Tungsten do we need each quarter to cover the interest on the loan?

I’ve been thinking about what Safety mentioned in the week and his fag packet calculations. How much Tungsten would we need per quarter to break even?

Assumptions

• All values are in dollars
• The increase in Tin price keeps the cost per producing the MTU to around $100
• loan of $60million @ 12% with no capital repayment
• the price we are receiving for Tungsten is $240 per MTU

This is more matchbox than fag packet but if the interest on the loan is $1.8million per quarter then we would need:

Earnings per MTU would be $140 or 1% of a tonne so $14000 per tonne.

$1.8million divided by $14000 = 128.5 tonnes a quarter

Just my opinion and I have used a lot of assumptions. I would love to know what you guys think?

Fag packet numbers are looking better.

It would be great to get some idea from MM in what amount we would need to be producing to reach even. From then on I expect the SP to rise when we reach that level.

It is 60 tungsten and 20 tin. MM also said that Q 1 will be greater than Q4 2020 when 100 MTU was achieved

So if 2 x 20mtu shipments have been made and another one 20mtu is expected next week we are on 60mtu for the quarter. This is low due to water levels.

As MM states that this quarter will be higher than any other he expects at least 2 more by the end of March?

Water levels now! Would you believe it?

Glad to see improvements have been completed and we may see some good progress with numbers now.

Also good news that now further financing was announced.

Ad someone else is now in charge of running the plant could MM be leaving it up to him to announce progress?

Maybe he has distanced himself to allow the experts to do their job.

That’s a crazy increase GIT.

What’s Tungsten at now?

I’m feeling optimistic today. I’ve looked in my crystal ball and have a feeling in my water.

I have a feeling news is a foot next week. Maybe completion of the upgrades, a move to 5 day working week and/or an interview with MM explaining the news.

Now, where did I put those dowsing rods...

This is the gamble we take with Wres OMR.

I wonder what would happen to the SP if:

I. We had the Glod licence granted

2. We had a JORC of 1 million ounces of Glod

3. We have gained a parter who is going to fund the mining

My funds have just cleared! Looks like I will be topping up under .10.

Boys can you keep the price down just for tomorrow?

Good buy Ponfeigh. I just waiting for some more funds to be available to catch you up again.

That sounds reasonable. What price would the tungsten and tin be at for 100 tpm?

Well done. That must be the first ever guessing competition where the average of the guesses was pretty much spot on.

It shows we are moving in the right direction (slowly) and eventually expectations are being met.

Good luck all

With your guess GUG how much downtime did you allow for in Q3 compared with Q4?

Maybe I need to up the averages

145 Tungsten
60 Tin

Thank you

So did you see the “may not deliver” or the ‘gold news alone could add 1p”?

It’s a bet for me as I know the risks. I also only view the board every now and again. It seems even though you have no shares you can’t leave it either at 6am or 6pm at night.

Enjoy your life, it happens only once!

Have a great weekend everyone,

Wasp

A few people so negative all the time, must be depressing being in your shoes.

We all know WRES may not deliver what MM promises/ hopes but if he does...

The gold news alone could add 1p to the share price overnight. Yes could but the chance is there. Got to be in it to win it.

Topped up a bit today. Next week could be the start of the RISE!

Wouldn’t want to be out of this over the weekend!

Good luck all