Member Info for fatsuperman

Thank you GK. Ah ok, so we'll go through the usual process for PM in due course then. I would agree with you, that given the companies experience with MH then it's likely they could deliver the feasibility studies swifter than the norm. Did they actually pubish the DFS so that we can review? I note in the key features table on the project page, they mention the feed grade would be 0.41% after sorting, which indicates a pre-sort stage to the plant, I'd be interested to look at the flow sheet. Thanks, Fats

Ah yes GK, that chart quite nicely shows the general peak and trough pattern of APT pricing. I feel we have a bit further to go on the current up turn, before the next decline. Do you know if there are further details available about the projects? Did the company publish any of the feasibility studies? Many thanks

Yes, unfortunately it's one of the more risky minerals from an investment perspective. It's quite 'lumpy' so you don't get the confidence levels you'd probably want from your drill campaigns. You don't see much finance being provided to smaller assets, tends to be the bigger projects, smooths out the average price you can achieve for the product. Still, it's a valuable material and THR have projects in very favourable countries. Do you know if the BFS was published for investors to review?

Tungsten is not traded on an exchange, so any prices quoted are an aggregate of any published trade. Prices tend to be negotiated based on the published price at Metal Bulletin (which are aggregates of trades). At the moment, one MTU of APT is around $290-$300. You have to bear in mind that this is the price for Ammonium Para Tungstate - Thor will be producing WO3 concentrate, like most miners. So you should expect to achieve around 80% of that price, so $240'ish. I note that the numbers on the corporate site use $400 per MTU, which is miles out. Tungsten pricing works on a peak / trough cycle. We are coming out of a recent downturn so we should see prices continue to slowly trend up for a while. And then maybe around 2020 start to reverse again. This is why it's key to know when Thor will be producing - we want it to all kick off at the right time :)

Hi Scary - what's the basis for that scenario? What's that, £30m 'ish market cap... is there some good news expected? :)

Hi all, been having a read on the corporate site. Can anyone tell me what the expected next steps are here? The site states production expected to start in 2018, but has the plant been built yet?

PS: Reference for the C1 costs versus real costs: every mining presentation, ever. ;)

I agree with Tungder on the costs front (but absolutely nothing else). Genuinely cannot see WRES hitting anywhere near that, they just won't. Those costs are C1 costs anyway, so don't include depreciation, amortisation, indirect costs, interest payments, maintenance, etc. Even if $94 is an accurate C1 cost (which is certainly isn't), then you need to add a good 20% for the rest of it.

Interesting comparison on WLFE and WRES there. Will be very interesting to see how quickly WRES do get the plant up and running after optimisation. I would not be surprised if there weren't similar problems.

There are many issues, perception being one of them. But the danger of going away from your core customer is that you alienate them and are left with no customers. There is nothing wrong with targeting a specific segment, after all you don't see that many 50 year olds shopping in Hollister. The issue with M&S is they are trying to catch every age group and not succeeding at any of them. 80% of the profit comes from only 20% of the lines, the rest are loss making. The lead time for new products or to get a second production run of a good seller is far too long - by the time they've realised what is doing well it is too late to get any more. When it comes to fast fashion they are light years away from Zara, who can see something popular on a celeb and get something in their stores within 6 weeks or so. MKS would take 6 months. Then there is the price. M&S used to be absolutely top quality, they still lead the way in textiles tech, however they are now trying to compete on price, but still retain a decent quality. The result is the middle ground, more expensive than Next, Zara, H&M, etc, but not that much better quality. And of course, teens and twenty-something would rather spend £50 on 8 tops from Primark, than 1 top from M&S...

High fashion and expensive food tend to do OK in times of strife and recession as the people buying them are usually the only ones that aren't affected by the bad times. The issue with MKS is the same issue that plagued it for a decade. Let's hope Steve Rowe can turn things around.

Cheers guys, that seems like a reasonable timeframe and I would expect a recovery in concentrate prices along the same period. Does anyone know the MTU cost for the tailings project? The C1 costs for the fast track / main mine look competitive so hopefully when production starts Barra won't be too far away from that.

When are they expecting to start production?

Haven't checked here for ages and wow this looks really cheap! Still a way to go it seems but I'm definitely going to re-do my research and see what the latest plan is for Barra.

Careful here everyone. I hear Darwin may get involved ;) *or maybe I'm just gutted I missed the rise. Again.

Surfs, $2.5 of Circum shares isn't very much value mate ;)

Shoplifting? Theft? I'm afraid you are not using the correct terminology, it's 'shrinkage' you are talking about, much more PC isn't it. :-$

Wasn't the 25-bagger discussion based on it going to 27p, around the time when AFCR was a penny or so? So technically this is set to be a 40-bagger!! Plus whatever Romania adds to the pie if it is pulled off :)

In theory ArdR, the company's assets and IP will get sold and the money will be used to pay the following; administrators costs / fee, staff wages, tax bill, then any debt / supplier liabilities etc. Lastly comes shareholders. So, there is a chance that if there is any money left it would be divided up amongst the shareholders. I predict we will get precisely 0p per share. Even if there was a billion in the bank, it would mysteriously disappear. And yes, no doubt the management will buy the assets and IP for the fair price of 1 Euro. I've been through this before, 1 week later the company is trading again and post stellar profit in their first year, etc.

Hey guys, bad day here. I suppose the writing was on the wall really, but there was so much promise. Alfa, there is definitely value there, but you know as well as I do that the value won't go to holders. It never, ever does. On to the next one folks! Best of luck.