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(WRES) W Resources Share Chat

Discussion in 'General Share Chat (WRES)' started by mart101, Jul 15, 2015.

  1. Steamy

    Steamy Co-Founder of BlueShare Staff Member Moderator

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    Anyone invested here?
     
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  2. Steamy

    Steamy Co-Founder of BlueShare Staff Member Moderator

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    [​IMG]
    W Resources PLC (LON:WRES)‘s stock had its “speculative buy” rating reaffirmed by equities research analysts at Beaufort Securities in a research note issued to investors on Monday 9th June 2015.

    W Resources PLC (LON:WRES) opened at 0.37 on Monday. W Resources PLC has a 1-year low of GBX 0.21 and a 1-year high of GBX 1.05. The stock’s 50-day moving average is GBX 0. and its 200-day moving average is GBX 0..

    A number of other analysts have also recently weighed in on WRES. Analysts at Northland Securities reiterated a “buy” rating on shares of W Resources PLC in a research note on Friday. Separately, analysts at Northland Capital Partners reiterated a “buy” rating on shares of W Resources PLC in a research note on Friday, March 27th.
     
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  3. warmrain

    warmrain Demi God of BlueShare

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    I have been in here over the last 3 years and with a large increasing investment and mostly at a price considerably higher than the current SP. I should add that I have not sold any. WRES owns probably the largest tungsten ore deposits in Western Europe with its current focus being the La Parilla mine in Spain, and various other tungsten and gold deposits in neighbouring Portugal.

    Its main mine development project at La Parilla has all the advantages you can think of for a mining project (...which is absent from many others I can think of) --
    1/ it is located in a politically stable and regulated country,
    2/ it has excellent access to a transport infrastructure and is near to its markets (a national Spanish highway runs past just 3 km from the mine),
    3/ there is access to a plentiful free supply of water for the mining operations in a large (ex-quarrying) lake on site - important in this arid part of Spain!
    4/ it is connected to the Spanish national grid for power supplies,
    5/ there are no adverse weather limitations for mining such as excessive seasonal tropical rainfall or cold,
    5/ there is a tested and functioning processing plant onsite built by WRES over the last two years and ready to take ore from the main mine development,
    6/ there is no question of whether there is mineable material present (it was previously also a tungsten/tin mine 20yrs ago but closed due to less effective extraction processes being available in those days to make it economic).

    Tungsten is a very important material industrially and used in numerous applications from tungsten carbide tools to hard coatings. It is on the EU list of the top 20 critically important materials in terms of supply vs demand. Warren Buffet reportedly has recently taken a large stake in a Korean tungsten mine.

    http://s30.postimg.org/i5tsomle9/Mining_EU_criticalmetals.jpg


    The share price has slowly drifted downwards over the last year due to some fund raising and slight delay in setting up the processing plant, albeit the profits from processing the tailings dump from the previous mine has helped to pay off the contract to fully buy out the mining rights from the previous owner. However things are now speeding up and coming to a head where the SP has a good chance of taking off over this next year. This is a long term investment but one which I believe is based on solid fundamentals.

    The limitations as I see them are that perhaps the Board is currently too small (and lacking City financing contacts and experience) to take it forwards in its next phase of development. The directors so far have not drawn a salary (I believe the CE-Chair has other directorships) but they have personally invested in every fundraising to date. The company believes investment in the business can produce an IRR of 70%. This is an incredibly high IRR, so perhaps it may not be too difficult to procure serious Institutional investment (or a Joint venture) going forward.

    An RNS was issued this week demonstrating a calculation for the NAV for WRES as 3p.
    The current share price is 0.3p

    WR
     
    Last edited: Jun 17, 2015
  4. warmrain

    warmrain Demi God of BlueShare

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  5. mart101

    mart101 Demi God of BlueShare

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    That's me in this morning with my usual "small punt".
     
  6. warmrain

    warmrain Demi God of BlueShare

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  7. mart101

    mart101 Demi God of BlueShare

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  8. Steamy

    Steamy Co-Founder of BlueShare Staff Member Moderator

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  9. mart101

    mart101 Demi God of BlueShare

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  10. Steamy

    Steamy Co-Founder of BlueShare Staff Member Moderator

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  11. mart101

    mart101 Demi God of BlueShare

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    I
    like the sound of that!
     
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  12. mart101

    mart101 Demi God of BlueShare

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  13. mart101

    mart101 Demi God of BlueShare

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  14. warmrain

    warmrain Demi God of BlueShare

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    I think the MMs tend to move this up and down depending on whether they are short of shares. The free float is somewhat restricted because 42% of the sharebase is tightly held by Directors + the Chinese investment group Hansource, and the daily turnover is normally quite small -- so when the MMs are hit with a big buy or sell they have to manipulate the SP.

    Still, I think this is significant news because Environmental clearance is one of the more tricky permissions to get whereas I think the next "developmental approval" is more a question of getting the technical specifications right. I note from the RNS -- "....Environmental approval was granted earlier than anticipated." Perhaps the recent high profile situation of the accelerating collapse of the Greek economy and Spain's own precarious balance of payments situation has spurred the Spanish Authorities on to wake up a bit sooner from their daily siesta to carry out some useful work! Let's hope the Developmental Approvals come sooner than expected as well (!).

    WR
     
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  15. tu123

    tu123 Demi God of BlueShare

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    Taken up a small position today. From proactive investors:

    W Resources (LON:WRES) – BUY*: La Parrilla update
    Market Cap: £9.5m; Current Price: 0.27p
    Environmental approval received for the Fast Track Mine

    • W Resources has received approval for the Fast Track Mine development at the La Parrilla Tungsten Mine ahead of schedule.
    • The Company now expects to receive development approval for the mine in September 2015.
    • Significant progress continues to be made on a number of pre-development areas including; metallurgical and ore sorter test work, infill drilling and equipment testing and selection. This work will be included in an upgraded mineral resource estimate.
    • Development finance discussions are proceeding with a number of potential partners.
    • Forecasts and price target remain under review.
    NORTHLAND CAPITAL PARTNERS VIEW: The award of the Environmental Approval for the Fast Track Mine at the La Parrilla Tungsten Project is a major de-risking event for W Resources. The Company now expects the Mining Department to proceed with the issue of the development approval in September clearing the way for the Company to secure the development finance to put the mine into production in 2016, transforming the Company from developer to producer.
     
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  16. mart101

    mart101 Demi God of BlueShare

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    What's driving this today?

    Guess it's just the market getting the message from the last RNS?
     
  17. mart101

    mart101 Demi God of BlueShare

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    Something's put a rocket up this today! Up 20% at the moment.

    Who else is still in here or am I talking to myself?
     
  18. Steamy

    Steamy Co-Founder of BlueShare Staff Member Moderator

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    i am still here, doing some digging.
     
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  19. tu123

    tu123 Demi God of BlueShare

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    This is one of the bottom drawer and ignore small caps for me.
     
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  20. warmrain

    warmrain Demi God of BlueShare

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    I don't think the MMs hold much stock in WRES so whenever there is any surge in buying, they put the price up. 81m traded today compared to an average of 9m shares daily, albeit this only equates to about £200,000 total. Looking at the trades, there is no particular pattern to suggest a large II stepping in so I would guess it has been tipped on some Tip sheet somewhere, resulting in a transient rush of PI's.

    The next significant news I am expecting is a resource definition for its assets in Portugal (Portelegre) or funding arrangements for the Parilla main mine. I am still invested large here and looking for 1.5p plus.

    WR
     
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