re: + financing the spinifex moly project + Hi Gerry,
Thanks for starting the discussion on Molybdenum (MO), Moly mine, providing the links to the article of "Molybdenum the Big Secrete" by Ken Reser. I also read the article in Kitco web site.
IMHO, "Tungsten (W) could have a Bigger Secrete". The reasons are China is producing about 85% of world production & usage, the grade of W in China is declining and China may not export W any more as China wants to use its W for their Steel industry. The price has also tripled in past 12 months. For further details, refer to the pending new Float called Vital Metals Ltd Prospectus (in ASX website).
VML has Tungsten (W) and Molybdenum (MO) resource Advanced projects and It is not a grassroot exploration company. Other main points of the VML propectus are listed below.
* CSM is also cornerstone investing $1m in the IPO
* Watershed project has a JORC inferred resource of 13.9 Mt @ 0.35% WO discovered by Utah Development (BHP Billiton) and it is at pre-feasibility. 12000 m infill drilling has been targeted to confirm, upgrade tonnage & grade and elevate the JORC Inferred resources to Indicated and Measured Resources status.
* Mt Mulgine project
(1) Hill Deposit, has inferred resource of 5 Mt @ 0.24% WO
(2) Trench Deposit has inferred resource of 83.4Mt @0.14% WO & & zone Molybdenum
* BBY (one of its sponsoring broker) has a conservative valuation of 34c/share. The issue price is 20c and seeking $8m.
Once the BFS is completed, Andrew Forrest with his experience of making FMG a success, it would not be a surprise that he may be invited to get the finance for VML.
As always, DYOR.
Regards,
BL
- Forums
- ASX - By Stock
- MOL
- + presentation data and comment +
+ presentation data and comment +, page-13
-
- There are more pages in this discussion • 30 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)