Profitable ??, page-18

Putting the emotion aside for a while;

It's a low grade tungsten mine, lower grade than just about anything operating today.
The financing was predicated on APT forecast prices nearly $200/mtu above today's price.
WLF don't get paid the APT price - and we won't know the full amount of the deductions unless they tell us.
China has relaxed export restrictions on tungsten and has about half a years' global supply backed up in warehouses right now.
Management will get paid very well no matter how the thing performs - no different to the "skimming" that takes place in all the hapless loss making rare earth stories.
The share register is dominated by two parties - don't kid yourself that any meaningful movement of shares will be allowed to happen without their explicit involvement.
It's a strategic investment for RCF. That does not mean it will be a profitable operation. Like their investment in Tantalum, they may, at some stage look to flick it on. I predict the shares would be delisted prior to any sale of the assets.