Hey Mirren thanks for the detailed analysis, Its greatly appreciated.
So I bought in at 9.1, the PFS should be a very good one. The geology is really good here for an open pit scenario rather than an underground mine, they also have Moly, Copper, Gold and Silver credits so I am betting that the PFS will be a game changer. Tungsten is currently around 32,000 USD per tonne, its come off a bit though. I forecast Tungsten will have a huge run over the next year or so.
Contained tungsten metal increased by 20% to 270,000 tonnes; • Contained Molybdenum metal increased by 23%; • Approximately 1 million ounces of gold, 44 million ounces of silver and 92,000 tonnes of copper
The actual mining, well who knows, Id like to think a year away. They are in the hands of the Chinese and have some big, Chinese industrial investors will very deep pockets who want to take this the whole way as they need to secure supply of the Tungsten.
I am happy to sit on it for a while however, just wanted to gauge if you think it might go back down to the 2.5, 3 level as id likely flog it Monday and try to get some better action later.
