Vcr the priority for Russell is tungsten. Do you seriously think they are sitting idle? There are valuations that need to concluded, offtake discussions and fund raising discussions that are ongoing. As the mining lease is still in mcq’s hand it will be futile to not get the other potential company maker in lithium discovery in Chile progressed. This is prudent. Nothing is a guarantee and a company having a plan b is not problematic but actually beneficial. Seriously vcr, when the management’s focus turned away from tungsten it was for 3 reasons:
- low tungsten price
- mining lease with mcq and when that deal fell through mid 2017 the only remaining option was to apply for a new mining lease
- which brings me to the 3 rd reason in time to get a new mining lease.
Hence the move to get lithium base. Nothing sinister here just the reality.
Since the tungsten price has exploded - mcq agreed to sell at a premium no doubt and tungsten sector being revitalised.
The lithium potential is also not bad.
SEI Price at posting:
2.1¢ Sentiment: Hold Disclosure: Held
