HAZ, page-3

I have looked at the Ferrotungsten process and price history.

The main ingredient is tungsten concentrate. About 1.7 kg of this is used in the production of 1kg of ferro.
At the moment there is a price disparity between the price of concentrate and the ferro price. With a ferro price of $36 usd/kg and a concentrate price of ~ $18 kg the plant is simply not viable.

Also with the plant having a capacity of 4000 kg this is really ~ 3000kg of pure ferro as the price is for the contained amount per kg which is about 75% per kg.

At production of 1000kg (750kg contained) the breakeven price of ferro IMO is about $45 per kg ATM.

At near to full capacity with a ferro price of > $45 it should be a profitable enterprise with the share price above 20 cents.

It appears as though the ramp up has stalled and there is no cash.