Reason for the drop2 Jul 2015 12:48
Commenting on the results, Sanzhar Assaubayev, the CEO of Kemin, said:
"Due to changing world demand and declining trends in the pricing of tungsten and molybdenum, the Company carried out a strategic review to ascertain the optimal approach to maximise returns from the development of its resources. This led to a delay in the previously anticipated timetable; however, we believe this approach will achieve better results in the long run.
"With the CPR in the final draft stages and anticipated for release in Q3 2015 the Company aims to move forward with a definitive feasibility study for Drozhilovskoye. This will enable the Company to look at a range of funding options prior to the development of the production plant anticipated to be completed to its first stage in 2016."
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