You may recall a while back THR signed an MOU for an offtake deal with Global Tungsten and Powders for the supply of Molyhil tungsten. This however did not have any funding attached to it. Well just recently, GTP signed another deal with Almonty for their Tungsten which included provision of $20 million funding for the development of their project.
So this beggars the question...What is wrong with Molyhil that someone so bullish as GTP is on Tunsten is not prepared to put any money into it? Is it because of the borderline economics associated with developing Molyhil?
This to me says that GTP are only willing to take Molyhil Tungsten if it ever gets produced by someone else. They are not willing to fund part of the mining operation. Why?
THR Price at posting:
0.5¢ Sentiment: None Disclosure: Held
