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http://www.wolfminerals.com.au/irm/PDF/2382_0/HalfYearAccounts
Almonty signs 10-year tungsten supply off-take deal 2018-03-13 16:23 ET - News Release Mr. Lewis Black reports ALMONTY INDUSTRIES INC. ANNOUNCES THAT IT HAS SIGNED A TEN YEAR OFF-TAKE AGREEMENT WITH A GUARANTEED MINIMUM VALUE CDN$500,000,000 FOR ITS WHOLLY-OWNED SANGDONG TUNGSTEN MINE IN SOUTH KOREA Almonty Industries Inc. has entered into a new off-take agreement dated March 12, 2018, with an existing customer for the tungsten concentrate to be mined and processed at the company's wholly owned Sangdong tungsten mine in South Korea. The agreement has a term of 10 years and, based upon current pricing models and subject to the terms and conditions of the agreement, the agreement calls for guaranteed revenues for the company for a minimum of $500-million. Lewis Black, chief executive officer of Almonty, commented: "We are pleased to have been able to negotiate and execute the single-largest underwritten minimum revenue guaranteed supply agreement in the modern era in tungsten for our wholly owned Sangdong mine. We now have total downside protection for our output and no cap on the upside, ensuring the long-term viability of the Sangdong mine regardless of market conditions. This agreement is testament to the strength and long-term viability of the project and the Almonty operating team. We believe that the outcome of this agreement in conjunction with our other operating and development tungsten assets will ensure our continuing market dominance as a Western-based tungsten producer for many years to come." Related party transaction The customer is a related party to Almonty holding beneficial ownership of securities of Almonty carrying more than 10 per cent of the voting rights attached to all of Almonty's outstanding voting securities. Accordingly, the entering into of the off-take agreement is deemed to be a related party transaction as defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The off-take agreement is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to subsections 5.5(d) and 5.7(1)(c) as the transactions contemplated by the off-take agreement will consist of the purchase and sale in the ordinary course of business of the company of inventory consisting of personal or movable property of the company and the off-take agreement was approved by the board of directors of the company. The transactions contemplated by the off-take agreement will not have any effect on the percentage of securities of Almonty beneficially owned or controlled by the customer. Other than the off-take agreement as it relates to the customer, the company has not entered into any agreement with an interested party or a joint actor with an interested party in connection with the off-take agreement. The board of directors unanimously approved entering into the off-take agreement on the basis that it represents an ag
poll 4 likes 1 dislike
poll 4 likes 1 dislike
no problem WRES was not mentioned in this report, a few others also
prediction - daytrader will not think much of this report
http://hallgartenco.com/file.php?path=Mining&filename=Tungsten_Feb18.pdf
there could be tenser relations between China and US in near future - North Korea, south china sea, tarrifs and trade issues Maybe higher WO3 prices
the increased contract price for WO3 is not of any interest to you ? Regards
I think Almonty will be profitable in Q2. $210 per mtu in 2017 to $280 per mtu in 2018. "Almonty has entered into a series of revised fixed price contracts with the same customer group that are effective as of January 1, 2018 to December 31, 2018. The net price to be received by Almonty under these revised contracts will be $280 per MTU of contained WO3, equating to an effective price of US$358 per MTU of APT. The improving grades of ore being mined, coupled with Almonty�s continued focus on cost control and the revised fixed price contracts that came into effect on January 1, 2018 have had a significantly positive impact on operating cash flow at the mine."
26 February 2018 Change of Registered Office and Principal Place of Business Specialty metals producer, Wolf Minerals Limited (ASX: WLF, AIM: WLFE) (Wolf or the Company) wishes to advise that following an internal reorganisation and a consolidation of support functions it has changed its Registered Office and Principal Place of Business. Details of the new arrangements, which are effective immediately, are as follows: New Registered Office Level 5 35 Havelock Street West Perth Western Australia, 6005 Australia New Principal Place of Business Drakelands Mine Drakelands Plymouth Devon PL7 5B5 United Kingdom Phone: +44 (0) 17 5239 3116 General enquiries email: adminuk@wolfminerals.com
another thing - what if this recladding does not fix the LFN problem ?
https://www.federalregister.gov/documents/2018/02/16/2018-03219/draft-list-of-critical-minerals
not impressed important factual info
2017 Almonty production 146k mtu WO3 2017 Wolf Minerals production 137k mtu WO3 2019 Ormonde production forecast 260k mtu WO3
Ti discovered in Cornwall, that was all. Something of interest close to Hermerdon i thnk
up 6.6% today up 40% since Dec 31
up 6.6% today up 40% since Dec 31
History Titanium was discovered in 1791 by the clergyman and amateur geologist, William Gregor, as an inclusion of a mineral in Cornwall, Great Britain.[38] Gregor recognized the presence of a new element in ilmenite[8] when he found black sand by a stream and noticed the sand was attracted by a magnet.[38] Analyzing the sand, he determined the presence of two metal oxides: iron oxide (explaining the attraction to the magnet) and 45.25% of a white metallic oxide he could not identify.[21] Realizing that the unidentified oxide contained a metal that did not match any known element, Gregor reported his findings to the Royal Geological Society of Cornwall and in the German science journal Crell's Annalen. https://en.wikipedia.org/wiki/Titanium