The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Ganzhou Tungsten Association (GTA) has increased its tungsten price forecasts for March in response to the recent rebound in prices, while raising its concerns of a supply shortage because most producers have not yet resumed operations since the Lunar New Year holiday in February.
https://www.metalbulletin.com/Article/3862829/Search-results/GTA-raises-Chinese-tungsten-price-forecasts-for-March-on-tight-concentrate-supply-rebounding-spot.html
GTA forecasts an average price for black tungsten concentrate 65% in March of 96,500 yuan ($14,388) per tonne, up by 1,500 yuan since February. The association expects ammonium paratungstate (APT) to rise by 1,000 yuan to 151,000 yuan per tonne in the same comparison.
After yesterdays talk about prices and different tungsten prices, I thought I'd post the above link and for the lazy, thee extract available (without paying)
Looks like it's a good time to actually be PRODUCING Tungsten. Still no news about Orm and their NEW Plant - do you reckon they are having a little trouble (has it rained in Spain recently?)
Back to our good timing, also on Metal Bulletin is an article about the demand for Tin, anyone know if there is a mine extracting this stuff? Looks like a good business to be in at the moment!
Just look at the Wres chat room and see the quality of discussion. A movement away from gardening, nuns and wood collecting to the tungsten market and the value chain is always a bad sign.
It's perfectly clear that many on here would make very poor used car sales men - you worry too much about the customer. W-resources customer's customer send a lorry to pick up our bags of product, they send a money transfer to our account TWO Days later. This amount is related to the amount of tungsten trioxide in the collected bags (our target purity is 66% WO3) job done (wham bam thank you mam)
For those wondering what the customer does with it can do a little chemistry that Tungsten Trioxide contains (184/232)x100% i.e 78.6% tungsten and another popular product call Ammonium para tungstate - (NH4)10 H2 W12 O42. 4H2) contains (2208/3132) x100% i.e. about 70.5% tungsten.
So 7.863Kg of tungsten is equivalent to 10Kg of WO3 which is equivalent to 11.153Kg of ammonium para tungstate.
How the customers manage their business and the added value is done to them.
Forgive my ignorance but I still don't understand how bleeding more shares into a 'bank vault' is good news. Can someone please explain or do I write to the various names on the RNS demanding an explanation and find out where this mandate came from.
Great idea Oldskool.
The first one to break wind goes straight to the naughty step.
WHAT, no Jellied Eels?
I'm sure the Essex Boys will have something to say about that.
Of course if you want crabs you'll just have to go to Norfolk
GIT, you'll improve your Trout strike rate if you went to the one in Hampshire :)
In a similar manner the farmer would increase his investment potential if he went to the Wres mine :)
Don't you peeps think it a little insensitive to talk about water streams and courses and all that water when there's a little Orm mine in Spain that has all those empty damns and no water to process their ore?
I didn't realise until this morning that Oaktree has a mine next door to Orm's that's going to pay off their share of the debt!!
It's always interesting how some folk twist the details ONE MINE, two owners each with a portion of the opportunity (potential revenues) and THE DEBT.
The Avon? That's one of the best Trout fishing rivers in England!!!
We all like a little waterways joke --- There must a dozen rivers in England called The Avon we even have a little tidal one down here is Brittle.
Bollo go to the Wresources.com the companies website . Under Projects chose La Parrilla and scroll down to the FID report.
All the information you want on the breakdown of cost are there for you to see.
Reason for low cap cost is partially due to pre-existing infrastructure and no doubt other stuff too.
Low Op cost due to strip ratio, good control of grading, transport organisation. Mining and transport sub-contracted so overheads reduced.
Well maybe some clarification in my limited understanding of this 'Swedish shares' connection.
I have understood, or have been told, that ALL the share are listed in the UK and that some have been purchased by Swedish people via some organisation(bank?) called Aktie? and are stored in a bank somewhere in London.
So how come there is this 'shadow market' that tries to 'trade' share at a different price to AIM's?
How is the 'balance' between the UK and Sweden set and maintained?
Or more simply put "What the %^$$^* is happening?"
Anyone who thinks they've been here 'a long time' needs to listen to Safetyman, who will enlighten you all about the chequered past.
What's this 'scene' stuff Muvver? I don't think they have anything like that up Hartlepool way. Maybe there's more going on 'down the allotment' than HBob reports on these boards.
They didn't get anywhere near 'our Bob's' Shed, Stealthy. I understand he has several most are nearly full but he has one empty at the moment. Each contains only cash - hence the term Shed loadsa money. The reason one is empty at the moment - well he's waiting for his Wres investment to come good, then it too will be full.
So peeps some time soon you'll be able to emulate 'our Bob' and fill ya own shed with readies.
Rich you're nearly there with your understanding - as reported earlier by Kev there will be a step up in the production rate when the Jig and Mill starts providing feedstock to the old Concentrator plant.
So we are currently producing 20 tons (2000 mtus) per month.. During March this will increase to 40tons (4000 mtus) per month. The new Concentrator will be commissioned during April/May and the rate of production will be steadily increase so that by December 2019 the full rate of about 200 tons (20000 mtus) (actually 2700 tons per annum) will be achieved.
One thing nobody you attended last night's presentation has mentioned is the little snippet that the Chairman said about the current financial performance of the La Parrilla project. With the JIg and Mill nearing completion and anticipated commissioning and setting to work this month (March) with the new Concentrator Plant following on i.e. the project is on schedule, what is the money looking like.
Well boys and girls sit down and breath deeply, there was an allocation of $2,400,000 for contingency/risk and they have so far spent $400,000 of that! This means potentially the outturn performance could be $2m under budget, Another nice little Brucey bonus or should I say Aaron/ Fernando bonus!
And wasn't some local organisation going to send us a check for 5.3Million Euros? A nice little 'Hello and welcome to the area present'.
Thanks for posting this Andy it helps us non Swedish speakers to have sight of what's happening or maybe what's not happening.
On first reading it has the pretence of being quite reasonable but a little thinking exposes the Fat Green Lies which is driving the political impasse.
Sustainability? What they should look at is Sustainable DEVELOPMENT and environmental protection and standards. Mining is an extraction business and by it's very nature can't be sustained unless with start the planet creation process all over again. So we NEED these natural resources to feed the development of the society and build economic development. The KEY is to do this in a way that is not detrimental to the ecological resources that surround the very important mineral wealth being extracted eg, water courses, noise and air pollution, land management and of course final site remediation at the end of life. I suspect Beowulf's environmental impact statement has covered all these area but still the so called 'Environmentalist' just will not accept that mineral wealth needs to be used for the economic good of the nation/society and more generally the world.
In short failing to develop your society and economy isn't sustainability. The reindeer herders themselves do not live a sustainable lifestyle they suck technology and resources out of the developed world and trespass on land others own and manage, they use fuel and machines others develop and make, have access to medicines and food which other supply/sell.
The Politicians that pander to their unreasonable demand deserve the retribution that will be coming their way when the economy and well being of the country stagnates when assets are no sensibly developed or exploited.
Your probably right Troajan. I understand at the moment they are doing drilling to manage 'grade control' for the mine feed and I was led to believe that they haven't fully identified the limit of the fast track part. They certainly have enough material to keep them going for many years and I suspect that they'll keep extracting viable feedstock until their grade control fails to find new material and then they'll move on to the next area and repeat the extraction philosophy and then the next area etc.
It's easy to see that 11 year life model is extendable on a rolling basis.
With all the focus on the 'Fast Track Mine' ( well it has been since the financing was sorted out) everyone appear to be studiously ignoring just HOW BIG this is.
Kev wrote about the area, I don't know the figure but September 2016 presentation contains a slide that identifies THREE licensed areas La Parilla no 7,768B, Victoria no 7.768A and Adelaida no. 7.766 all bordering each other in close proximity. If the 1km distance mark is to scale the La Parrilla site alone looks to be about 3km by 2km. The whole lot together is about 7km by 4km!.
So back to the rest of the mining opportunity as identified back in October 2015 presentation this was the time of the Mine and Tailings Page 12 identifies the existing water filled pit and page 14 identifies drills that have been done in the old pit area. An area is identified marked High Grade Extension with identified test drills which is identified on page 20 as the Fast Track Mining area. However, a much larger area marked North West Extension is also identified with various drill hole identified.
So in short boys and girls we have firstly the Fast Track Mine, once the old pit is drained we have potentially extraction from the old pit and then it's on to the North West Extension. That potentially sorts out La Parrilla but what about Victoria and Adelaida wouldn't it be rather ungentlemanly to ignore these two delightful ladies?
To reiterate this is BIG and could be much bigger.