RE:RE:RE:RE:RE:Communication from AlmontyA quote or more :
Sept-13-2021 "Over US$14m has now been spent at the Sangdong site against the project cost which
equates to approximately 13.8% of total project cost (including US$6m for guarantee fees). The lock cycle tests have all been successfully completed by Metso Outotec and they now move forward with the engineering study for the processing plant. The second payment deposit is expected to be made by Almonty in October for the mills and their delivery is still on track for January 2022.
Once Sangdong is in production from Q4 2022, Almonty is expected to produce approximately 30% of all tungsten outside of China and approximately 7-10% of global supply.
On August 5th the South Korean Government announced that it would be increasing the national stockpile which includes Tungsten from 57 days to 100 days. We are now in dialogue with the Authorities in regard to their Tungsten requirements."
https://almonty.com/almonty-provides-an-operational-update-for-its-tungsten-mines/
Have a look at the 26 minute mark and listen to a great response from Lewis.
Watch the whole lot as well.
June 25 2021
https://almonty.com/almonty-industries-investor-webinar-ipo-asx-june-2021/
He said he put $7 mil of his own money into this project and his family and friends have invested $mils as well.
"I will make sure this project is buttoned down, and I was not in any hurry to start construction until I knew that I had the right financing, the right approach and every thing has been tripple checked."
Another comment from Lewis was something like :-
"Share holders would be informed if things are looking good and we will keep them informed as far as we are alowed to say, as there are stringent rules".
Wow ! What sort of a CEO would really give a sh*t about share holders (he is one) let alone the continued fight to strive for better deals.
Answer = NONE.
October 27 2021 :-
https://www.businesswire.com/news/home/20211027005991/en/Almonty-Industries-Inc.-Provides-an-Operational-Update-for-Its-Sangdong-Tungsten-and-Moly-Mines
So from late September 2021 $14 mil was spent and in late October 2021 it was $17 mil.
What is it now ? I really dont care as Lewis is the King of Tungsten Mining and a genius in complex deal negotiiations with the most ruthless of players i.e. the banks.
You could compare it with a billionare joining a few plebs on a short journey into outer space.
Confidence to the max.