Member Info for Tungstenman

Thank you -

It’s been 6 weeks since last news from the company. Been a very dry period of news and/or PR resulting in l poor interest. I had thought a cobre update would have been released by now and the clock is ticking on Leigh Creek. We haven’t had any bad news from this brilliant management team so fingers crossed there’s none pending.

Iran just hit US warship - standby - wow

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

Tells you all you need to know about the future direction of Tungsten. I’ve always maintained SML Directors should be on bid alert - our prize asset must be on many bidders shopping lists.

Should in theory only drop 0.8p but unlikely

Good article John - apparently if the USA were to start rebuilding their tomahawk today it would take them until 2035 just to replenish what’s been spent on the IRAN war . Tungsten demand will be long and strong.

And just to put matters into context - Zeus fair value is based on Tungsten at $850. It’s actually 4x that price suggesting a share price closer to 24p not 14p. Not ramping just providing facts. DYOR

"Rotterdam pricing for tungsten (APT) is at US$3185 per tonne, up 350% year-to-date and a circa 900% increase over the last 12 months," reported Kristie Batten for Stockhead on April 23, 2026. Batten called tungsten ". . . the best performing commodity this year."

In an interview with analysts William Jones and Reg Spencer, Batten asked about tungsten futures. The analysts said, "Our research suggests a limited new project pipeline, and with our forecast 47% demand growth to 2035, we expect the tungsten market to remain in structural deficit."

Ronaldo handle - new account set up this week. Part of the dec ramping tracing gang I suspect

14.9p Fair value with the possibility of 43p.

Zeus View: We value Strategic Minerals on a SOTP basis with a DCF for Redmoor forming the bulk of our valuation. We take a conservative approach to tungsten and use a constant $850/mtu APT price recognising that cycles are cyclical for a reason, but also look at a production rate at 1.0Mt/year (over Strategic’s 600kt/year as a 29 year mine life does not make an efficient use of resources in our view). Our DCF using a 10% discount rate produces an NPV of $1,755m and an IRR of 138% to which we only include 30% in our fair value – 14.4p/per share.

We believe Redmoor to be a high-priority project and one that could easily be a company maker for Strategic Minerals. We see fair value overall, after a contribution from Cobre magnetite mine, the sale of Leigh creek with an allowance for corporate costs and cash, at 14.9p per share. As Exhibit 13 below shows the Redmoor project is extremely robust. Even at low prices (i.e. back to where we were 9 months ago at $400/mtu) the project as modelled generates an NPV10 of $613m (5p of share value risked at 30%). If demand can’t be satisfied by new supply and the price remains high then at $2,000/mtu the project generates an NPV10 of $4,673m (43p of share value risked at 30%). The low case of $400/mtu produces an NPV10 nearly 5 times larger than that produced the 2020 Scoping Study. We expect the project to improve in size and scope throughout the period of its PFS and DFS. Redmoor still has secrets to give up in our view.

LOL- Clown

You are the shameless disgrace and fine you know it. Suggesting the price would fall back to 4.5p when it was over 6p. Stop playing the innocent fool and hop off

And as if by magic the space hopper arrives - couldn’t make it up- lol

The baron posts coincide with large trading - he’s no investor merely a pumper. Long term holders know the score here..

Looks like a big seller clearing down. Shore Cap pushing them out the door at speed.

Looks like recyclus cash generation about to lift off. If it can payback 100k this quick this suggests our 48% investment has a big chance.

Current price offer a 300% upside based on Zeus fair value target. Even at 14.9p it’s nowhere near fair value IMO.

No point debating 6p 7p or 8p. I am confident we will comfortably pass the Zeus fair value target with ease. Daily volume has been c50m for the past 6 sessions so over 10% of the co has changed hands. One would expect to see a fresh arrival on the shareholder register pretty soon or at least Coffey moving his holding past 4%. Fundamentals haven’t changed here only getting better.

Average daily volume here now is c50m. Looks like there's a tug of war going on here in this session at 5.7.