Tungsten MarketI follow most of the tungsten stocks (not hard - there are only about four or five of them) and I've made a point to talk to the management of all of them. There seems to be consensus from most of them that they have to work hard to be smarter this time around and not let the Chinese hang them out to dry as happened a couple of times in the past. There is also one very important difference between the market now and the situation almost 30 years ago when the Chinese last blew out the market. Back then Beijing was desperate for hard currency and any sector that could generate it was encouraged to even if it was selling at a loss. In trying to maximize revenue the Chinese messed up a few markets, including tungsten. I think two things have changed. One is that the guys running these sectors have a few more brain cells and realize that driving for 100% of the market actually DECREASED the revenues since the price was driven so low. The other difference is that China has gone from being desperate for currency to being awash in the stuff (900 billion or so last time anyone counted) and being alot more concerned with internal supply security. That is why they have been cutting export credits to the bone and refusing export licsences on strategic metals.
IS PLY a slam dunk? No. Does it have a good shot - at today's W prices, definitely - all the projects have the potential to be quite profitable. And yes, TS, the project IS worth millions more than it was two years ago just becuase of how the market changed. A 400% increase in the potential selling price of the commodity and resources with a value equivalent of a couple of million gold ounces will do that for you. If you can't grasp that concept then you should go back betting on bank stocks.
You're just pissed because you missed the boat. PMI was trading at $0.50 six months ago - with almost the same production rate they have now at$4.75. The difference? Booming tungsten prices and a write up by hardrockanalyst.com that got a bunch of other analysts looking at it and Sprott and a couple of other commodity heavy houses buying it. Sometimes it really IS that simple.