Yesterdays announcement confirmed that the fully funded slurry production from tungsten tailings is on schedule and under budget with the plant being operational in December. (Positive Cash flow Q1 2011).
CNQ currently has a market cap of $17Mil and considering china seems to be controlling the tungsten price I and topping up at these levels wile I can
For Info please find below the anticipated income from the tailings.
Announcement dated 17 June 2011. Capex 4.4Mil (Currently under budget) Projected Life 2 Years (Tailings) Anticipated Revenue $5 Mil to 9 Mil Year. Cash flow modelling indicates very strong IRR, even at prices much lower than the present record Highs. (Tungsten)
The IRR is internal rate of return a rate of return used in capital budgeting to measure and compare the profitability of investments.
Announcement dated 22 Feb 2011. Tailings, Production 50t Mth EBITDA $5Mil Yr Capex $4Mil Mine Life 2 Years Start up 2011. Low Grade stockpiles. Production 100t Mth EBITDA $15Mil Yr Capex $20Mil Mine Life 5 Years Start up 2012. Hard Rock. Production 200t Mth EBITDA $30Mil Yr Capex $5Mil Mine Life 10 Years Start up TBA.
Sit back enjoy the ride with the directors committed limiting the shares on issue I see CNQ as a long term hold.
Please do your own research.
CNQ Price at posting:
7.9¢ Sentiment: LT Buy Disclosure: Held
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