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.
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Todays,IMO we need to manage our expectations. The company has...
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Last
3.8¢ |
Change
0.000(0.00%) |
Mkt cap ! $85.00M |
Open | High | Low | Value | Volume |
3.8¢ | 3.8¢ | 3.8¢ | $18.89K | 497.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 65284 | 3.8¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.9¢ | 75000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 65284 | 0.038 |
1 | 300000 | 0.037 |
1 | 45000 | 0.036 |
1 | 100000 | 0.035 |
1 | 500000 | 0.033 |
Price($) | Vol. | No. |
---|---|---|
0.039 | 75000 | 1 |
0.040 | 712293 | 4 |
0.045 | 133000 | 2 |
0.046 | 202000 | 1 |
0.047 | 15088 | 1 |
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