No problems kirthas. Like always DYOR. This may have mistakes!...

No problems kirthas. Like always DYOR. This may have mistakes! NFA

The 61.3t of tungsten produced that you reference is 61.3t of tungsten concentrate. From the quarterly

"the process plant produced 61.3 tonnes of concentrate at 58% WO3"

So the amount of tungsten in the 61.3t of concentrate is 61.3*.58=35.554t.

If they processed 13039 tonnes of ore at a grade of .61% that comes in at ~79.53t as you have.

79.53 - 35.554t=43.976t

Where did this ~44t of tungsten go? My understanding is it would of gone to tailings and ended up as waste stored in the tailings storage facility. Given these tailings are still a good grade of tungsten compared to other tungsten deposits primary ore it may be that they are being stored in a waste stockpile for potential future reprocessing if possible. I do not know, perhaps a shareholder can comment.

The things I would suggest you check out as a shareholder are:

A) Recovery rates and how they compare to the projected rates. Feasibility Study 2020 updated Feasibility Study numbers below.



B) Debt and repayment due dates of debt. Latest Annual report has the relevant info.

C) Mine life, This has changed given the recent changes that are not announced yet. Not sure how you would obtain this information.

D) Deferred Capex for the OC operation and the Underground operation.

GL