HNN, which is a multi commodity company with the largest tungsten (and large Moly) deposits in the world, announced about a week ago it was buying the fifth largest tungsten mine in the world, located in Hunan province, for Rmb 350m (about Aus 60m)
If they already have the largest deposits and have just added another large mine, at what seems to be a very cheap price, plus China has much lower labour and development costs, why would they be interested in going ahead with a small relatively short life mine in outback australia. I think the recent purchase could explain their loss of interet.
Not hassling THR, I brought at 23 cents and will stick with it, but it is a farily small resource. Big Chinese companies just aren't that interested in this kind of scale.
THR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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