-Billing has ZERO experience in establishing and managing juniors through to sustainable businesses.
-Billing has LOTS of experience of selling good assets and keeping his own personal gravy boat topped up.
-Molyhil is clearly not viable in current conditions. Tungsten is in over supply and the costs of production in Australia are prohibitive.
-Pilot Mountain is potentially a medium size tungsten resource...
see slide 22...
http://www.asx.com.au/asxpdf/20130320/pdf/42dsbb748hksfm.pdf
-There is only 1 producing tungsten mine in North America. Some might see this as an opportunity, however when you couple this with the fact that good tungsten mines have been moth-balled, the environmental issues in the USA and the fact that the United States has hundreds, if not thousands, of sites where commercial quantities of tungsten have been identified..
http://www.resourceinvestor.com/2006/01/31/trouble-tungsten
&
The U.S. Government Stockpiles Tungsten...
http://www.indexmundi.com/en/commodities/minerals/tungsten/tungsten_t2.html
&
and China's tungsten stockpile plan would create a low price floor.
http://www.scmp.com/business/commod...m-tungsten-stockpile-plan-seen-creating-price
Then the only sane conclusion is that Pilot mountain will not go into production in your lifetime...unless you are 3 years old or younger...
MT
