I'm looking forward to a very rewarding 2024.
2023 was ok with SP up 20%+,but it could have been a lot better, especially with Oaktree & Cronimet signing on at 9c. 2023 saw production increase a number of fold with 200t reached in Oct? as we started actual mining. The processing of waste material has been the warm up game. The increased mining capacity has been improved with Ore Sorters, more shaker tables & mining gear from Goldings. Now we need the bigger Sandvik crushing plant to lift production to the next level.
The Saloro mine looks like a great addition which has taken all year and the expected finalisation and payment of $25m should come SOON with production at 150t per month.
Wolfram camp could be a nice one, but we will only really know after a drilling program (after Tony drills Mt Carbine).
The tungsten price seems to have bottomed & we should see the long awaited increase from military as stockpiles run low, plus Nyobolt EV production in 24.
The management team has continued to deliver during tricky times. Tight cashflow,
dry crushing issues, assessing Spain, Wolfram Camp, Mt Carbine underground & a cyclone. Well done Kevin & team. All while not blowing a massive hole in budget or debt like a number of peers.
Happy New Year & good luck to you all.
Patience is a virtue!
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