A bit more discussion around the “Asset Expansion” topic.
From Kevin’s recent speech. (https://vimeo.com/986230532)
3:33 “We feel that we’re aggressively doing m&a and acquiring operations, which we will talk about a little bit later.”
4:07 “the Spanish and the Australian assets and the growth we’ve been undertaking over the last few years and this is our anticipated growth coming up with the acquisition of Wolfram camp that we’ve got. And we got our eye on a couple others as well.”
4:55 “We’ve picked up under tender from the government Wolfram Camp and Bamford Hill, a 500 square kilometre concession. We are very excited, our geologists absolutely love that area”
5:21 “So that’s all happened in the last number of years. We’ve had a strategy of vertical integration that we’re looking at as well as trying to make two mining hubs, one in Spain and one in far north Queensland in two tungsten districts so we want to consolidate the industry in and around those.
10:49 “Again wolfram camp, we won the government tender, we are handling it as a grassroots exploration permit, not mining the old mine right away. We are looking at the waste dumps where we started at Carbine, but again we see a very significant upside on Bamford Hill.
On slide 15 you can see Watershed on the map for Australia and Watershed has had a mention in previous presentations.
I think it is safe to assume that one of the two mentioned assets on slide 8 is Wolfram Camp.
Given the mention of Bamford Hill multiple times and again the inclusion of Watershed (7m [email protected]%) either one of these could also be a “planned” asset. Bamford hill and Wolfram camp are 40kms away from each other so I wouldn't expect them to be included as one asset.
However going back to the two Tungsten hubs it would make sense that they would be bringing on a second asset in Spain to achieve the Spanish hub. The Saloro acquisition included another 5 historic tungsten mines.-Valdegallagos
- Mina Marta
- Mina El Bollo
- MIna Saturno
- Mina Plus Ultra
Perhaps the 4th Asset is one of these areas. I think that is a bit unlikely given it has been stated they haven't been drilled for 100+ years so it would be a bit of stretch. Which would bring me to the likely conclusion that at some point in the future there will be an announcement regarding a new Spanish/Portugal mine/mine ready deposit.
As I said above. I don’t think there is a hurry for expansion via acquisition any time soon. Having said that, I am happy with the Wolfram Camp and Saloro acquisitions. Another government granted tenant in Spain or a great opportunity like Saloro would increase the risk factor a bit more than I would like but if Kevin and team believe it to be in EQRs best interest then I probably wouldn’t have too many complaints.
