Every one has the right to an opinion, and I have the right to call it out when it's wrong. And addressing to Kevin when he doesn't read it is pretty poor form.
If Goedy and for that matter any one else doesn't understand that investing in small resource companies comes with a reasonable dose of risk, which can mean lots of volatility in price, then maybe they shouldn't invest in the area.
To assist in the understanding that risk. Maybe check out the performance of other tungsten players on the ASX this year.
Almonty (AII) started the year at 83c Now 52c down 37.3%, and they just announced a $2m cap raise and haven't told the market. How would like that as a shareholder.
Group 6 Metals (G6M) started year at 17.5c Now 8.8c down 48%. Have had two capital raisings at 17c and 14c. More debt, Blow out in capex to $150m plus and struggling to produce. Management has been saying, everything ok, everything is fine. They are looking for more money.
Tungsten Mining (TGN) started at 9.5c now 7c down 26%. Going no where! Project IRR 9% and Capex $600m+
EQR started at 4.8c, closed at a disappointing 6.7c up 39.5% for the year.Ramped up production, acquired another deposit Wolfram Camp under a good deal from Qld Govt. Got a great deal for a producing mine in Spain and brought in one of the world largest money managers at a premium. Has signed strategic MOU's with global players. Has little debt, gets paid as the truck leaves the front gate (not on 30 60 or 90 day terms), No cost blow out (unlike most other projects) and one a very important environmental award. And yet we have flogs still whinging.
EQR Price at posting:
6.7¢ Sentiment: Buy Disclosure: Held
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