production in june they say, page-5

Chair, as you might have noted, I never posted on this board before. I was doing some initial research on Wolf and their Hemerdon project. While doing this, I came across a presentation that did name a couple competitors that were trying to get into production during the next couple of years. Hazelwood was one of them. I did very limited research on most of them and that's how I ended up here.

The one thing that struck me most, is the fact that everything they do seems to get delayed. I saw a couple of presentations with timetables from the past and figured nothing of what they had planned actually was achieved on time. Bankable feasibility study and commissioning of the Vietnam smelter as the two most prominent examples.

Basically I like the vertically integrated approach but just like it is the case with some other holding of mine, Galaxy Resources, who try to establish a vertically integrated Lithium operation, it seems both management teams can't handle what appears to be too many things at once. With Galaxy it's the other way round, they did get their mine up and running (alas at 75% nameplate capacity) almost on time but the chemical plant in China keeps getting delayed by at least half a year, probably more. That certainly doesn't stop them from adding yet another major project, building their own battery plant though.

As I said, I like the vertically integrated approach, but please, do one step at a time.

Do you expect Hazelwood to be able to get enough 3rd party quality raw meterial to reliably run the ferro-tungsten smelter at full capacity?

Let's assume the BFS could be successfully completed by the end of the year. I reckon it would take some time to secure funding of the mining operation, at least 12 months to build the mine and another 6 months to reach steady state production. Given the company's track record, I would be very happy if they were able to deliver first Big Hill concentrate to Vietnam during 2014. But then, hope is the last thing to die.

I have placed a buy order nevertheless. Good luck to all of you!