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Ormonde was bid for only a few months back.....Almonty Industries explicitly wanted their tungsten asset. Their BoD essentially told them where to go, as although they offered ~6p a share (50%premium) , they felt they could unlock even more Aurum as exactly the same prospects...and 6000 hectares of real estate. A low share price is also predatory territory. No doubt if Ormonde has been spotted as a potential M&A, then so has Aurum
Good find there,many thanks.
Yes good chance of this moving up a level soon.gl
1 and 3 month (AURUM) graph is looking fairly bullish. With a peak a few weeks back, we've gone through a period of consolidation. However....it now looks like we are virtually ready for the next move up
Tungsten price has increased significantly the last 6months (by around 20%) http://www.infomine.com/investment/metal-prices/ferro-tungsten/6-month/ Company valuations will always lag the tungsten price...which is why I am now expecting a rerate fairly soon
Tungsten is on the up atm,so i think that this is a no brainer as when the resource update comes out this will fly imho.
similar to WRES tailings/dumps is low capex an quick cashflow The Board is also looking at other ways of potentially moving the project forward in the short term - for example a review is being undertaken to see if cashflows could be generated through processing the dumps and tails of previous operations on the site. These funds could then be used to fund the drilling programme.
22 January 2013 W Resources Plc ("W" or the "Company") La Parrilla Tailings Project Approved by the Spanish Mining Authorities First Production Expected H2 2013 W Resources (AIM:WRES), is pleased to announce that the La Parrilla tailings project located in southwest Spain, has been granted approval by the Mining Department of the regional authority of the Junta de Extremadura. The La Parrilla tailings project is expected to be in production in H2 2013 with annual plant feed in the region of 330,000 tonnes and annual production anticipated to be 28,000 MTU Tungsten (W) and 26 tonnes Tin (Sn), which at the current tungsten and tin prices should deliver approximately EUR7 million per annum in revenue. Construction of the processing plant located to the south east of the La Parrilla site will commence in Q1 2013 and capital cost is estimated to be EUR1.3 million, for which the board are currently evaluating financing options. Mr Michael Masterman, Chairman of W Resources commented: "This is an important milestone for W, as the La Parrilla tailings project is on course to deliver tungsten production within 2 years of the Company acting on its new strategic direction. The Company has received one indicative offer for financing the La Parrilla tailings, which is currently under evaluation."
* was that
good research sportauto, what that a resources update or just cashflow update we are also awaiting JV update here...another source of income
WRES move up from 0.4 to 1.3 was the tailings cashflow update earlier in the year 300%
With a fairly sideways movement in gold and recent bounce of the larger mining companies (RIO etc), you would hope the entire mining sector will break out of the sideways trends
loads and loads a tungsten!
yep, once the tungsten update comes, which imo will comprehensive including plans for tailings/dumps processing. They are evaluating tailings/dumps for quick cashflow the reason i am buying any dips. dyor
Agreed, WRES is a perfect example of where AUR can be...and even WRES is undervaluved WRES @ a market cap of ~£20-22million is valued 5times higher than AUR. No only that...but AUR have a distinct advantage of far few shares in circulation. Once they are in the hands of BoD, long term investors, and ii's shares will be hard to come by
Tungsten update will change that imo
look at how invstors are chasing WRES 25m mcap for its tungsten and gold AUR 4m mcap are based in Spain like WRES . AUR tungsten project is best in Europe see RNS Multbagger on Tungsten update imo
per sq/km Spain has one of the largest tungsten deposits in the world....and Aurum have 6000 hectares of it
Just a thought but perhaps the BoD are sitting on good news until such times that the mining [gold] sector falls back into favour. Good news make otherwise fall on deaf ears. A sector rerating combined with well times news release could multiple the shareprice significantly
update soon will change everything here.
http://www.aurummining.net/ The websire has been brought up to date over the last week. Perhaps they are about to open the flood gates?! Paying €165,200 for such a huge tungsten prospect was a steal...and undoubtedly helped by the Spanish recession
Doesnt appear to be does it.
And it's going to add serious value to the shareprice. Not.
RNS OUT!!.
Accumulation and Distribution... Look at volume and price patterns during September. The markets are no different to any other form of retail operation......if you have stock and for no reason a sudden surge of demand .....what you do, raise the price keep testing and then control the demand. But opening the spread you slow down the volume, but can continue to test the support and resistance within the spread. If you want to increase stocks you can lower the price. 'Tree shake' even if the news is good, then when stock is sufficient release the spread controlling the demand. Quite effective and efficient ....lol