About to strike.
Deal to be finalised by the end of June. We may have only a slight pull back in the SP after this,then it should power on.
Maybe after the Allocation, but it should be short lived.
Some pretty interesting news will follow the share placement.
Great job by our CEO to get this deal done.
The news keeps getting better, Tungsten on the rise also.
Production set for early October, cash flow positive from Quarry early August.
Expect plenty more news coming weeks.
My tip for this stock between 7 and 12 cents by end of August .....20 to 30 cents by end of October .
Hopefully by Xmas 50 to 70 cents if Tungsten keeps climbing.
100% off take from all Minerals won by SEI. By Cronemet all product going to European buyers.
Yes as for the 1.8 Cr ,you do realise this was negotiated when our Share price was 1.2.
Also the only direct dilution will be 45 ml shares.
Most of the 220 million shares are going to our Partner Cronemet and their subsidiary Companies ,they need to hold these shares to maintain a 20% equity as Partner.
Also our Partner Cronemet will foot 50% of all costs and buy 100% of all product.
The Mine is ready to commence processing of tailings with a 90+ % recovery rate.
Prior to this the recovery rate by Roch Bros was only 45% and the costs associated were some 40% higher.
Along with this they have over 12 millions tonnes of stock piled hardrock ore ready to crush and process.
The raw product is worth about $270 per tonne at today’s value.
We then get a further 2.5% at the refinery once concentrated ,which is about $750 per tonne ,the total value is about $34,000 per tonne consentrate
So with 6 million + tonnes of tailings plus 12 million tonnes of stockpiled hardrock ready to go ,this should put. Rocket up the share price.....from explorer to producer.
The current Jorc has approximately 21 million tonnes in Mt Carbine underground mine. With another 32 million tonnes in Iron Duke and Peterson’s load leases.
Also it’s expected SEI will secure more area very soon.
The Company should have a Market cap of between 150 ml to 200 ml by the end of this year.
The company has no debt a Mine ready to turn key, all infrastructure in place Power,Highway,water,and Port Facilities within 100 Klms,
All mining approvals and Environmentals are in Place .
If Tungsten does rise as predicted this will only add greater value to the only producing Tungsten Mine in Aus.
Our costs to Mine are the lowest in the world at about 35% of the value per tonne.
I can only see green for this stock over the coming Months with plenty of other News to come.
I also see them Farming out their Gold tenements as well their Lithium Tenements in Chile.
They will and should stay focused on the Mt Carbine operation.
Add to this a contract in place for Road Base products to Mareeba /Cairns/ and McKay Local Governments ,worth currently about 10 ml net each year.
Which they Plane to expand on quite considerably.
I have seen the Mine and all the Plant and equipment is in perfect running order.
The Current Mine tunnel at the base of the Quarry will allow access to all the reserves below Peterson’s Load and Iron Duke, as well 2 other Areas currently under consideration for testing.
This is in a safe jurisdiction, pro mining area ,Indigenous all sorted and supported.
Can only go one way.
This stock is holding well considering the placement was at 0.018.
I do not see much downside. Hopefully 7 cents plus by the end of August.
Quarterly report Due tomorrow ,should be good reading.