Most of us, who follow the tungsten market, will be aware of the...

Most of us, who follow the tungsten market, will be aware of the Toronto based company, Almonty Industries, who have been producing tungsten for quite some time.
Below is a complete profile of their mines "in play"
Note that the only currently producing mine is Panasqueria in Portugal (more about that in a moment) and also note their Sandong mine in South Korea which, in their Nov 2022 presn, they refer to as their "MASTERPIECE".


Now, back to Panasqueria - below are their Nov '22 presn numbers of Wo3 production



With 1 single MTU equating to 10kg, their 78,100 equates to 781 tonnes or approx 65 tonnes per month
The Mt Carbine gravity plant is currently producing about the same quantity, perhaps more than this, from their low grade stockpiles - just wait until they start extracting the recently drilled and assayed RICH VEINS in and around the pit/west dyke/iron duke etc, this 65 tonnes per month will be blown out of the water.
So just think about this for a moment - Almonty's mines, complete with a huge infrastructure and massive capital expenditure and having been in operation for many years, are probably not even matching us at this early stage in production (just about to hit the pit) and with so little capex of a measly $21.4M

So lets have a quick squizz at Almonty's financials below;

We all have to do our own financial analysis but this is just a single snapshot and let me tell you, showing continual losses of this magnitude does not look pretty in my books.
With Almonty only operating on one tungsten mine, they must be very anxious about bringing their "masterpiece" mine, Sandong, on stream - but when is this going to happen ?
In a January 2023 video interview, Lewis Black said Sandong would be coming on line in 2024, 12 months away - he didnt however, say that it had already been delayed from 2021 to 2022 and then to 2023.
Delays of this nature must be very concerning for their financers....!

Almonty (ASX:AII) are currently priced at $0.72 and MCap'd at $157M (off their highs of $1.10 and $172M respectively.
Their Nov '22 presn headlines as "Building the Worlds Largest Tungsten Mine " - I guess the only thing you could say about that claim is that it is commensurate with Lewis Black' ego.....

So here we are, poised and about to do a swan dive into the riches of the Andy White pit, swim a few laps around the west dyke extension and the Iron Duke and we are priced at only $0.063 and MCap'd at $92M.
Give me a break !

I know we are all going through some tough times at the moment but this is one hell of an opportunity to dive into this pond and stay in their until you get waterlogged