Hello wangjanglang,Why does the management seem dopey - projects...

Hello wangjanglang,

Why does the management seem dopey - projects are progressing and the fact that they have the Vietnam project being built I think says a lot for their abilities.

From the companies 20 December announcement:

'Initially the operation will be fed with feedstock procured from the market until Hazelwood?fs own mine sources can be brought on?]line.

The ferrotungsten price is nearing record highs, with Metal Pages reporting Chinese free on board prices of $US45?]46 per kilogram of contained tungsten.'

So ultimately this is not ideal, however should iron out any bugs and see some cashflow. Hopefully the Wolfram Camp Tungsten-Moly Mine can provide an early feedstock until their WA mine can come online.

'>$100 million to get big hill up and running? Why so much? and where's the money going to come from?'

In regards to the cost - no idea. In regards to where is the money going to come from is a question I have also pondered. Who has the 40% interest in the Vietnam project I am guessing the Chinese, however who?

Gindalbie have a 30% interest in the Mt Mulgine project and we know that Ansteel is in bed with GBG so there is also another potential Chinese interest.

If they attempt a capital raising and if Vietnam is up and running and the feasability studies are positive then can not see why it would be disasterous.