It's an easy sum really, the costs are published on the company presentations, the APT selling price is fairly available online. Unfortunately at this price there is no profit, so it's about continuing to operate without too great a loss for the time being. WRES is puzzling a little I admit. Given that the project is now as unprofitable as practically every other tungsten mine out there - how will it get funding at this stage?! Everywhere I look tungsten projects (frankly all mining projects) are on hold or on life support. We have a buyer at WRES so I think that is helping to keep us going at the moment. Still, it's not all doom and gloom. We are at or close to the bottom, so upturn in mining, oil and gas, automotive, construction, aerospace or defence will have an impact. I'm also hopeful that in the next 24 months China will deal with the illegal mining that is going on there (40% above their official quota, shipped out via Vietnam, dodging export duties as well). That will have a material impact.
Bought in here 300k shares at 17p was expecting to make a nice profit on production, Just my luck tungsten tanks just as the plant comes on stream looks like I'm locked in for the foreseeable future.
highly speculative,a bit like betting on the 10/1 gee gee. in a couple of years time,it'll probably settle down,to a more sedate pace/level.like most do.
If the global demand for tungsten isnt there then they need to look at local buyers.
Realistically guys this is going to touch on 10p before we see a retrace IMO - really bad timing, im out for now at a loss but will revisit if it drops further. ATB.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.