Member Info for pj70

Not sure what has caused the drop the last 3-4 days but it would not be IC article - more like a larger player rebalancing but why if funding is nearby? Fingers crossed it’s not too far away the announcement

These are a bottom of the drawer stock where come

Back in 5 years and 50p+ and dividends.

Bead personally I would weight for concrete evidence they can produce concentrate and the flow process from shovel into ground to money in the bank for offtake has been proven. My gut is when this is proven it will fly but until then we will languish for awhile as LTHs top up and newbies buy while the impatient sell off.

Just my opinion and I am here to see where we are come December 26 and what news we have between now and then.

The IC piece was inaccurate on several points as listed in previous comments below.

I do think it seems to be someone selling down with 32p seeming to be a key point that it has bounced off now on several occasions over the last few months. Lets see if it holds next few trading days.

I was also of the impression that the $85m of funding was down to legal finalisations and good to go soon. Just need that rubber stamp on approval to be RNsed

Flipper completely agree - jursidiction is good for africa, open pit far better than underground and less cost and equipment is being provided as part of the contractual agreement with Unitrans who know they dont deliver copper concentrate for sale in offtake they dont get paid!

Monochrome as long as they can get it out of the ground and produce the saleable product. This is why we are still at £33m market cap and will stay there until proof that Unitrans the subcontractor and whoever is managing them on site is able to deliver a copper product. IF they are able to do that and hoping that it will before year end then we will see a doubling of where we are and then a slow progression north as continuity and BAU production occurs alongside the expected announcement that with that cash from the copper we start drilling and increasing our resource base hopefully.

My only concern is the delivery to production with no major snags

Processing date not concentrate production date. Not sure on the timescale between crushing and producing concentrate but certainly not same day affairs as has to be trucked 190km as well

1.3% of the company traded on close

Https://theoregongroup.com/commodities/tungsten/why-tungsten-prices-are-rising-so-fast-inside-the-supply-crunch/

The report has so many errors and incorrect statements

.0124 this time last friday at close and nice tick up after more than 2.4-2.5bn shares traded this week and closing around that 0.015 mark and with the markets down for miners the past 2 days.

Do you have a link for that report?

We have lift off

Be interesting to see on the 24/25th june whether the warrants that come onto the market are mopped up over a few days or drop the price significantly. It is frustrating to have this overhang BUT would not be here without those warrants!

I saw that Tungsten West had a mention by a Alex Hamer a financial journralist for the Investor Chronicle. Firstly was shocked that each point he raised was incorrect and not sure where he got his numbers from.

He stated that tungsten mtu is currently at 1700 usd when it is over $3000 out of Rotterdam.

He stated that china exported 4000 tonnes in 2024 when in fact total; tungsten by numerous bodies show 12-14k tonnes in 2024

He stated that the FS was toppy based on the raw material prices - the only valid point here is on tin and that accounts for 7% of the total revenue and is completely absorbed by the increase in Tungsten

Then states that multiple mines will come online in the 2030s - when in the 2030s if we are producing in 2027 and onwards.

really poor jounralism and anyone want to read it is on page 42 of IC this week.

Pardariff - i think financing needs to be signed and RNSd to market and then operationally that RNS that states they have produced first Tungsten and been shipped to smelter is the biggie.

I intend to top up on financing and then depending on where we are at with first ore RNS then buy again. I have been buying since 8p range up to 42p (down on those for now :-) )

Just need to be patient and lets hope the financing is by end of Q3

Pardariff i want to be careful to not sound like a ramp but for me and using the Zeus report which were conservative and by there own admission as well and using £300m FCF post tax and a multiplier of 8 your at £2.4bn / 1.25bn shares = £1.92 per share or circa 5.3 times todays price.

The issue with my numbers and Zeus numbers are tungsten at 2300usd and an average of $850 for life of mine vs 3145 currently. A payability of the smelter at 80% when the company have told Zeus it will be better and stated in broker notes. Just a 5% increase betterment on payability is worth to bottom line before tax of £28m a year at the 2300 tungsten rate and 3300 tonnes of concentrate.

So in think £1.90 is baseline low end and anywhere up to £3 is possible. The unknown factors of tungsten pricing, AISC being ballpark to what Zeus forecast, new mines globally coming online that will increase supply and price pressures on tungsten, increased demand from military sector,.

Zeus in that report did a comparative to peers and valued Tungsten west at $4.7bn which is £2.78 a share.

The like for me with this stock is that we are not waiting 10 years if everything goes right to achieve these multiples but more like by middle/end of 2027 and then fully year of 2028 to really ramp up price again to numbers above.

All just my opinion and not a ramp but why i am invested here.

100% agree Pardariff. My point was probably about the pricing and that with current pricing it would be hard to get wrong operationally. Even wolf minerals with there poor decision making in the mine planning phase or what it seems was poor planning would still have made money with what there output was and highly likely the time to fix and spend capex to correct as they went along.

Yes Tungsten have rectified many of the so called flaws but my point is that the risk on production with even using 2500 mtu pricing is minimal and low risk as per Zeus comments on this as well

Pricey - thank you so much for that detailed research and taking the time out to do that.

Going through that has given me even less worry as a good proportion of those warrants are out of the money currently and if they do come in the money they are on a multiple of todays share price. It will be interesting that IF FCF does become excessive (we wish) whether CB plan would be to do buy backs to reduce the volume of shares on issue alongside a 100:1 share consolidation.

Computer909 - the report was great if and when financing comes online. It just surprised me that no revenue was being factored in for nearly 2.5 years and if thats the case most investors will come back in the future as why bother to buy now when there are so many miners on the cusp of production that have funding in place in a commodity supercycle.