I see from the AFR article today that the journos are saying AUD 15 mill more coming from the CMFO. Then i suspect maybe more from the fed govt. but to be honest 25 mill (almost 50% of the market cap) coming from govt will ensure a bank comes in for the rest.
Like i said all the western world govts wants this mine up and running agin. the US govt wants this mine up and running. Oz has been told.
Its the highest purity tungsten in the world (by far) - the us military needs it. -Nato needs it - the Aus military needs it. why?
China Vietnam and Russia (all commie) control 96% of the worlds tungsten. The Chinese engineered it that way on purpose in the 90's. they dumped the market and put almost all western mines out of business. There's no mines in north America at all now . - zilch. .Tungsten is the 4th most critical metal in the world - the west has run out . its also a military metal for armamenets missiles fighter jets tanks ships etc you cant have a military without tungsten.- they cant rely on china russia or viet to sell it when a conflict happens they MUST have it.
Senator Mcain passed that law before he died in 2018, Trump doubled down on it. Biden is not repealling it. The EU signed onto it, Nato signed onto it. probably deato countries did to.The Western alliance countries US Canada Nato etc are now not allowed to buy "critical metals" particularly those needed for military from the commie countries. They have to reopen tungsten production at any cost.
The only survivors in the west after chinas tungsten attack are some crappy low grade ones in Bolivia Spain Portugal and Austria who produce tun gsten as a by product.
The Canda govt for example is spending CAD 400 million to rehabilitate 2 deep crap-quality low grade and expensive tungsten mines
The only decent mine left in the west is the big one in S. Korea (now owned by Almonty) but most of that tungsten goes just to south korean tech and car building industry and their military.
So the only other decent place left is Austrlia. And head and shoulders above anything else for high quality and reliability is the dolphin mine on king island!
this mine started in 1917 in 1st world war cos the britsh empire and allies needed tungsten- the Chinese friend to kill it in the 90's. (along with ll western tungsten- and it worked - this is the west just realising it and coming back. the western military and govts govt are behind it. I'm no conspiracy theorsit. this is a fact. this mine WIll happen!
The western govt want it back in production. Its going to happen, they will get their funding. AUD 50 mill is friggin peanuts in the grand scheme of things.(cost less than one 5-15 to do so) if a private bank doesn't do it (which they will) the Oz govt will - and if not us military will- they must have it. comprende?
do you understand why we 10 baggerclubbers are so confident this will happen? There are bigger forces pushing this than meets the eye.
One of our members heard about it in US military circles.It all made sense so we jumped on the pp.
so do yourself a favour buy some shares - sit back and enjoy the ride. we should hit 50 cents.
KIS Price at posting:
15.5¢ Sentiment: Buy Disclosure: Held
(20min delay)