MLG on SALE !
21M Market Cap ??? Should be 2x or 3x Higher......
Sales revenue up 18% to $4.6M for the quarter from $3.8M in Q3-2010, and up 29% for the nine-month period ended September 30, 2011, to $15.2M
The Company believes that demand for tungsten will continue to grow, as no new significant production capacity is expected outside of China for the next three years. In addition, China has slashed its export quotas for antimony, indium, tungsten, molybdenum and tin by up to 5% for 2012 as it continues to protect its metal resources. The commerce ministry said that the export quota for tungsten and tungsten products is expected to fall to 15,700 tonnes, down 2% from 2011. Furthermore, during the third quarter, the British Geological Survey published its 2011 risk list, citing tungsten as one of four elements with the highest relative supply risk index.
