SEI 0.00% 2.9¢ speciality metals international limited

"Speciality Metals International Limited (ASX:SEI), (Speciality...

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    "Speciality Metals International Limited (ASX:SEI), (Speciality Metals or the Company) is pleased to announce it has entered into a binding Heads of Agreement for the purchase of the Mt Carbine Quarry and Mining Leases, ML 4919 and ML 4867, with the quarry and leaseholder, Mt Carbine Quarries Pty Ltd.
    Whilst the ownership of the Mining Leases is integral to the successful development of the Company’s Mt Carbine Tungsten Project, the quarry will also provide Speciality Metals with an invaluable source of cash flow from the existing quarry business. The associated quarry infrastructure will also be of significant benefit in the development of the Company’s future mining operations."

    Cash flow from existing quarry business! tick.

    Associated quarry infrastructure will significantly benefit SEI. tick.

    Mining leases integral to succesful development of Mt Carbine Tungsten Project. tick.

    Binding agreement to purchase by mid March 2018.  ( next week). tick.

    Discussions for off take agreements underway. tick

    “The purchase of these Mining Leases will enable Speciality Metals to extend its footprint at a time when demand for Tungsten continues to rise.”

    Given the rise of the tungsten price, Speciality Metals has engaged in preliminary discussions with several interested offtake parties, whilst investigating the viability of recommissioning and recommencing production at its Tailings Retreatment Plant.
    “The cash flow generated from the successful development of the Mt Carbine Tungsten Project will enable Speciality Metals to take full advantage of improving market conditions,” Mr Krause concluded.

    SEI - MC = $16.5 Million

    TGN- MC = $272 Million.....

    Don't let the down rampers destroy value of this stock as it's about to massively rerate in coming weeks!
    Last edited by kellbys: 09/03/18
 
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Currently unlisted public company.

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