there has been talk of tin (Mt Holmes) and further tungsten deposits to make the company a cluster. Even adding a smelter at Mt Carbine.
Not sure if any thing is imminent given the program the management has in getting into full production.
What I think this says, if you are valuing the company on its current position and the NPV of $210m, then you aren't seeing the future potential for many years of production to be added with other resources to be added. As Tony (chief geologist) has said before. This is a MULTI GENERATIONAL DEPOSIT and we are one of the very few that is actually producing.
Another important point to add. Recoveries is a vital part of the economic model. Kevin and team have been successful in obtaining 75-80%. It's not guaranteed all will reach that level. Its why CNQ failed in 2012, Wolf Mining (UK) W Resources (Spain) and a couple of others.
There is not a lot of NON CHINESE tungsten production anywhere else. Nothing in North America. At some point the West will want certainty of supply.
EQR Price at posting:
4.8¢ Sentiment: Buy Disclosure: Held
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