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clock Created with Sketch. 09/03/18
11:38
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Originally posted by kellbys
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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. 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. "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. he 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.
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SEI doing well considering its a Friday. A lot of low cap stocks stay flat on Fridays unless positive announcements. Looks like SP might go for a run this afternoon before announcement next week. Almost Mid March Cha Ching
