At $1.60, our market cap will only be $177m. As one of the rare...

At $1.60, our market cap will only be $177m. As one of the rare few producers outside China, I think its undervalued. Assuming that holding does not get diluted.

Considering the way LYC, ARU, and ALK went. These rare earth plays have a market cap respectively $2.8b, $497m, and $283m.

Production should begin at year end, tungsten spot prices (like copper) have rallied hard and now above pre-GFC record prices. Like the rare earths industry, tungsten is dominated by Chinese global supply (controlling 65% to 75% world supplies, whereas China controls 90% to 97% of the rare earth supplies).