Lewis at it again.
“We are the backbone of tungsten outside of China, Russia and North Korea.” - False
Almonty produces from Portugal. Portugal is ranked 10th on a country basis with 500tpa. Vietnam comes in 2nd at 3400tpa nearly 7x the production. Also above Portugal is Spain, Australia, Bolivia, Austria and Rwanda.
“We've been the only people to sell an active tungsten mine in the last 20 years.” - False
Oaktree capital sold the Saloro tungsten mine that was producing since 2019 to EQ Resources in 2024.
In reference to Sangdong “It runs at roughly 3 to 3 and a half times the average grade of any tungsten mine globally.” - False
G6Ms dolphin is .92%
Nui Phao is .21%
Saloro is .195%
Mt Carbine open pit is .3%
Mt Carbine underground is 1.05%
Bakuta .205%
Sangdong with total ore reserves at .35% is not 3-3.5x ANY of them. Lewis surely knows the grade of at least one of them right?
Again Lewis constantly spouts outright false statements which are so easy to fact check. It brings the integrity of the man into question. What are the other statements he makes and are they in fact false as well. For instance, is the cash cost per MTU $110USD at Sangdong? He has been using this figure for a long time. Panasqueira has a grade of 0.21%. Sangdong isn't even 3-3.5X Almontys other mine, It is right there in the same presentation. What is wrong with him?
“The only mine, say in Portugal in operation, that makes money” Impressed that he actually popped “in Portugal” there. Always nice to stick to the facts.
Still using the Cash on hand as at 30 Sep 2024. Lewis updates the share price to the price as of 12hrs ago. But happy to leave the cash on hand to the 6 month old figure on the same slide.
The presentation has removed the previous project summary information completely.
NFA GLTA
(20min delay)