Todays,IMO we need to manage our expectations. The company has...

Todays,

IMO we need to manage our expectations. The company has already publicly announced that Hard rock mining (stage two and 3 combined) is planned to commence in 2014. As startup problems are to be expected, I very much doubt that hard rock production can commence within the next 12 months.

IMO, the reason why the share price has been struggling recently is because of the following:
1) Bulk shipment was supposed to happen in June 2012 and the finalisation of the offtake agreement for tailings is conditional on Mitsubishi receiving and accepting the shipment as being of a reasonable quality. It is now July and no announcement has yet been released by the company;
2) No announcements to date regarding the ability of the company to overcome its initial production ramp up problems. Could possibly explain why the bulk shipment may have been delayed;
3) Recent weakness in the Tungsten price and market.
4) Europe Crisis with fears that it could have a contagion affect on the rest of the world which would indirectly affect Tungsten demand.

I continue to hold because I believe that it will only be a matter of time until:
- the company resolves its production problems;
- Europe gets its act together;
- Tungsten prices stabilise as there are no substitutes and more countries are regarding Tungsten as a strategic commodity most likely because its one of the key commodities used to make weapons.