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Almonty Industries Inc T.AII

Alternate Symbol(s):  ALMTF

Almonty Industries Inc. is a Canada-based company, which is engaged in the mining, processing and shipping of tungsten concentrate, as well as the exploration and evaluation of its projects. The Company operates through four segments: Los Santos Mine, Panasquiera Mine, Valtreixal Project, and Woulfe. The Los Santos Mine is located in Spain whose operations relate to the exploration and mining of Tungsten. The Panasqueira Mine is located in Covilha Castelo Branco, Portugal, whose operations relate to the exploration and mining of tungsten, as well as the production of copper and tin concentrate by-products. The Valtreixal Project is located in Spain whose operations relate to the exploration and evaluation activities of the Valtreixal tin/tungsten project. Woulfe’s properties are located in Gangwon Province, Republic of Korea. The Woulfe's operations relate primarily to the exploration, evaluation and development of the Sangdong Project.


TSX:AII - Post by User

Comment by 5ilverlining808on Jan 18, 2022 9:39am
183 Views
Post# 34327887

RE:RE:RE:Communication from Almonty

RE:RE:RE:Communication from Almonty
QuarterDollar wrote:
  • I think it is safe for me to say that all of our delays to date have been the result of external factors beyond Almonty's control.  Hopefully this financing is the last one and I hope we get all of the mining equipment in a timely fashion.
  • Another possibility on the delay is there may be timeline delivery issues with the mining equipment.  Once there is a draw down on the loan is started, the clock starts ticking on the interest payback, regardless of when the equipment is shipped and installed.
  • ...and COVID is definitely throwing a curve ball into delivery times.



I recall Lewis saying that the Mills and Crushers (maybe screens) from Metso would be delivered to site late Jan, (or early Feb.) 2022 reguardless of financing, as the relationship with Almonty and Metso through the other operational mines over the years and is a strong and solid one.

Hell, if things go pear shaped they can always send it back, but that is not the plan and Metso is prepared to let those items sit on site in their crates until the site is developed and ready for installation and then they will move in to assist on this and also commission their own equipment to boot while the process plant starts its first zero load wet run, then return later for the initial half load run and then the full ramp up.
Pure long time experience and trust in play here.

Not many other mining groups in the World have this sort of luxury and trust with a high end major supplier of mining equipment and expertice, as Almonty is still using and ordering spare parts for equipment on the other active mine sites to date.

Metso/Outotec also has other items to offer that will be used in the Sangdong project, like pumps (lots of pumps), thickeners, feeders and they are the best on the market.
So Almonty made a deal that Metso could not refuse, as buying cheap Chinese garbage equipment does not make any sense without a profesional back up from the provider.


There is no delay yet for the first large items and Lewis said some thing about this before, and I think he said some money was paid to Metso already.

The old POSCO deal was quashed for a new Engineering/Procurement/Construction company EPC (not to interested to look for the name) and this is the one that will need some assurances money-wise to keep going.
The reason for the change of EPC players seems to be the typical and constant goal of Lewis looking for a better deal for the company and share holders.

And yes Covid "IS" screwing every thing up for every one on all bases around the World.
So sad, but dont give up.



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