Into the second year of the "new crew" now. Has gone from 3c to 0.1c. Market cap has gone from $40m to $1m.
Was selling tungsten to end-users all around the world to establish itself and ramp-up in falling tungsten price if only they persisted......pity. $4m of debt is hardly crippling and yyou wuld have thought there would be a better refinancing deal than 0.1c and selling all the assets. Did have a longer term value plan to vertically integrate, just gave it all away for a few crumbs.
"New Crew" were handed a fully operational smelter and a growing client list for the ferro tungsten but culdn't even refinance a puny $4m loan.
Now ramping-down and selling only to Japan it seems? Even if the ferro price is in the doldrums the concentrate price must have tanked by now and there should be a margin in it by now. By the time they get their act together the Chinese will have taken all of the market from them.
HAZ Price at posting:
0.1¢ Sentiment: Hold Disclosure: Held
