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Thank you lovelyboy for your advice, much appreciated. Good luck.
Take a look at the graph of "TINM" - a tin based ETC. The move up in the tin price will be catching the eye of tin investors who will be likely to add to the buying pressure.
Tin is Tungsten West's secondary product. Again very helpful for the financing effort.
All we need is for aggregate prices to lift off to achieve a hat trick.
Couldn't come at a better time for TUN. It will hopefully make financing much easier.
https://news.metal.com/newscontent/102703327/tungsten-prices-hit-highest-in-over-ten-years-many-tungsten-companies-continued-to-increase-long-term-order-quotations-smm-comments
@gingy. No worries. I share croissants view... just be wary of the funding aspect. Significant cash will be needed to bring production online. This hinges on the final MPF permit being in place. So TUN is not out of the woods yet but the recent lift in SP is a positive sign.
All the best with your investments too.
Cheers LB
I'd guess its to do with the extension of the maturity date of those CLN's. If TW goes into a financing round in H2 then those CLNs can be repaid as opposed to converted. Dilution is the biggest risk this share carries for investors IMO. When I started to invest I was very scathing of the BoD and SLT particularly when Nige dropped out and tanked the SP. However, reading the updated feasibility and having a much firmer grip on what this company is about I think that they're doing an excellent job walking the tight-rope of solvency across the chasm of catastrophe (!) and making this project succeed.
Thank you new5 will have a read what I've been reading so far sounds interesting.all best good luck with your investments.
This is the worlds second largest known tungsten reserve and is hopping to begin full production. The information you might be interested in is contained on the company web site . full reserve details and extraction expectation over the mines expected 27 yr life expectancy etc, Makes for good reading and also makes this stock look cheap.
Thank you lovelyboy, much appreciated. Your reply sounds interesting. I'm looking to invest in this. Just got into Cornish metal which I feel is a long term investment. All best with your investments.
Nothing obvious other than the fairly positive Environment Agency comments regarding the outstanding permit for the mineral handling plant. Scroll down a bit to my last post where I linked an evening Herald article on the subject. There's slightly more juice in this press article over what's been Rns'd.
Lots of community liason going on too. Likely linked to the EA consultation period but probably unrelated to the rise. imo.
https://www.linkedin.com/posts/tungsten-west-limited_we-are-excited-to-invite-you-to-join-us-at-activity-7180831329477890048-6uW7?utm_source=share&utm_medium=member_android
ATB LB
Good morning all investors. Not invested here myself but looking to. Does anyone know the reason for the up swing in share price? Thankyou in advance.
Tro,
The buying has been relentless over the past week.
Today is the first day it's taken a bit of a breather!
Something is a foot. 400% up this week... I'm in danger of breaking even 😳. I'd given up on this one.
Great to see finally. Good luck to all.
ATB LB
6.5 paid there portfolio.
must be a rescue plan,on the cards
Tro,
Another good day... even better month!
Moved quickly on fairly thin vols.
# Trades 211
Vol. Sold 1,108,121
Sold Value £44.51k
Vol. Bought 2,175,333
Bought Value £85.47k
Good to see bullish divergence playing out into a classic bear trap reversal.
3.75/4.00
atm
I think my memory must be failing me. I had a very good root around this weekend to try and justify these numbers. Current share cap 187M , 7M added in the last offer (which they described as disappointing). The 2 billion I am sure was one of the items from the last AGM, all of which were approved, but the notes of which I cannot source anywhere. (So if someone does have a copy please can you confirm that would be very useful TIA).
The £60M+ cap-ex will be debt, grants and dilution I would imagine. I expect another open offer say 5:1 (last OO was 1:2.7 at a discount), and the 2 billion seems to match up to the £60M mark at a 3p share price, which was the price in the last OO. I'm just speculating - so pinch of salt. ATB
Thank you for the clarification, I tried to find that under the "regulatory news" section on their official website but couldn't see the creation of the 2 billion shares, I did find the quote from their previous CFO saying they need 65m to fund the project, one of his quote raised my attention: "There are lots of expressions of interest from lenders wanting to fund this project, once we have these permits. That includes funding from existing shareholders and from new investors." I assume the word "lender" means 2 billion shares are not neccesarily the only way of recieving that 65m, they could also fund the project through debt??? I remember HSBC and Morgan were both relavent to this project.
Ps: Strongly agree with your point: even after dillution the value of projcet is still couple of times more than the current market cap, their pervious estimated NPV was around 215m, as time goes on market cap shall converge to this number
Just a quick correction. There were 180M shares issued prior to last open offer. The £600K was raised at 3p per share which added another 20M shares taking the total to 200M. Then a further 2B shares were announced, at a later date. Working on the premise that the £60M cap-ex funding will require asset backing, it looks likely that the 2B shares are also to be offered at 3p each , as 3p x 2B = £60M.
There was a recent equity raise (from memory I think they raised £600K which did some fancy share split) resulting in an additional 200M shares. The finance director (Nigel) then quit and the shares went sub 4p - its visible on the share price chart. Since then (again from memory) they announced in financial reporting docs (I'm sure its online somewhere (see RNS above??)) the creation of a further 2 billion shares. This is 10 times the prior dilution. My question was whether those shares were to fund the CLNs ,whose terms allow for them to be converted to equity, or whether they were retained in treasury? If the share price were to recover to say 10p and those shares are in treasury, that would amount to £200M. That would easily clear the CLNs and negate any need to fund further cap-ex. The dilution sounds awful but if you look at the RR their value is multiple billions over the lifetime of the project so the share price should be many multiples of the current price even after dilution. Looking good.
I remember a few months ago Tungsten West was seeking for staff who's specialized in debt financing, I believe it is to do with negotiation with the seed investors, the CLNs that Tungsten West announced were basically intended to serve as debts that were interest bearing loans, and used to save the company from insolvency until the major financing round, that's why the maturaty date of the CLNs were extended to Janurary next year. When the major financing round is complete, they will have money to repay the debt therefore CLNs won't be turned into equity, I don't think the board of Tungsten West would like their own equity to be dilluted anyways.
Ps: could you please clarify where the 2 billion number comes from? I thought it was hundreds of millions though. Thank you
2 Billion additional shares were created no too long ago as additional share capital. Is there anything preventing the company selling those shares to clear all the CLN's and using those same shares to fund future cap-ex, as opposed to having to go to the markets, or are they already assigned? Any ideas??
Hi Guys I’ve got shares in the old Wolf company, are these completely dead and gone or are they transferred to Tungsten West ? Thanks JP
A few days old...
https://www.plymouthherald.co.uk/news/plymouth-news/new-hope-plymouth-tungsten-mine-9194889
ATB LB
Yesterday and again today was expecting a fall after Yesterday.....
Could TUN be returning from the wilderness?