As Gomer said lots of reasons why people sell. Spain, converting options, profit taking, daughters wedding, todays FRIDAY.
The facts remain that production at CARBINE is ramping up. The SALORO update showed concrete improvements especially with the addition of the ore sorter to 120-140t per month of 65% concentrate & reduced costs. The team is on the ground in SPAIN to improve and make further adjustments.
This deal would not have been around in a years time. Apart from the AUSTRIAN mine and MASAN, no other non CHINESE tungsten mine is doing 100 ton per month. As the ASX announcement said there are lots similarities between the two deposits.
They can and will make this work & we will have 2 profitable mines and one of the largest financiers as our largest shareholder.
This is happening while Tungsten West looks like finishing for a 3rd time, G6M need more capital as their ramp up is having issues, Tungsten Mining isn't going anywhere, W RESOURCES looks to be done and ALMONTY seems to be smokes and mirrors.
As I have said before, I don't think management have finished the journey, there is more to come.
Have a good weekend!
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