From the limited information I can see, there continues to be little ground made by prospective producers.
Almonty is delaying Sangdong. They had to raise $3m to pay a fee to GTP to allow them to access a $75m loan (interest rates going up). That suggests their existing European mine isn't going to well.In the ASX listing presentation, they said no more raisings.
Tungsten West (UK) has been delayed.
W Resources (Spain) was in production but costs have increased, so they have stopped.
Barruecopardo (Spain) is having some production issues
King Island hasn't delayed yet, but they said their long lead items had been delayed. This is exactly what Almonty said yesterday and it has pushed them back. The CFO of Tungsten West said, any project that has capex and opex figures older than 6 months will need to redo them.
Then you have Russia restricted and falling Chinese grades and lockdowns.
In meantime we are aiming for 3000 to 8000 tonnes over the next 12 to 24 months
EQR Price at posting:
5.4¢ Sentiment: Buy Disclosure: Held
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