Olli has done another video with Sean from StK markets while he was in Washington DC.
A couple of takeaways -
- Olli talking about US grants for tungsten projects. They are still waiting for a response for their $15m grant. The conversations he is having with US officials is explaining about the supply problem. IE Not many Western players who can deliver SOON. They are starting to understand the product is not available.
- Saloro producing around 30k mtu per quarter. Kevin on site now to implement the improvement previously discussed. Believes Saloro can get to 40k mtu per quarter.
- Sees more upside on the tungsten price. Above $400mtu.China has reduced their domestic tungsten production quota.
- Mt Carbine not far (a couple of weeks) from accessing high grade zones. Putting production back to Sep 24 quarter which was around 30k mtu.
- Labor re-election and majority government is good as Albanese has been vocal about critical metals projects and there have been budget plans to support critical projects. Kevin Rudd is all aboard as ambassador to the US.
- Olli off to Europe this week. Hopefully seeing what the Europeans want.
I noticed in the Chris Brown (Morgans) update, that Cronimet have provided a $10m facility. This should remove any questions about operating cashflow given the tungsten price and production is only likely to lift from here.
Long version
https://youtu.be/iKZvcaE6AU0
Short version (6 mins)
https://youtu.be/1wYalqchkKs
