Ann: Webinar Mt Carbine Project Financing Development Discussion, page-3

We are all in this market to make money, to spot the good opportunity, the great project and great management....
In the case of EQR, King Canute comes to mind - you simply cannot hold back the tide.
It might take a bit of time and marketing (essential phase we are now entering) but IT WILL HAPPEN

I have been looking at a few other aspiring tungsten projects which many HC punters have been agitating over for a long time and apparently getting quite frustrated at the slow progress, issues/risks and cost blow outs of either/both capex or opex....

These include;

Tungsten West (ex Wolf Minerals) who tried to restart what Wolf failed at - they have now failed themselves due to mainly to cost blowouts

G6M - I think they are working off old opex numbers, have understated their risks, getting hit with rising costs and project timeline blowout

Bodo Project (Pilar Gold) this may be an ok project but its still a ways off

Sandong (Almonty) – genuine concerns that capex will blow out from $75M to $150M and prodn being 2 years away


Considering all the above, for those investors committed to the tungsten market, I think the safe investment is in a company which is already in production, almost completely derisked, is fully funded at a low capex, has opex credits via its quarry aggregates business, has State and Federal govt support and is increasing its "resources" via an ongoing drilling program and scoping study together covering the remaining c80% not covered in its recent Feasibility Outcome.

Unlike King Canute, there there is no doubt in my mind that the tide will change..........!!