Almonty Industries Inc T.AII

Alternate Symbol(s): ALMTF

Metals & Mining Copper

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.

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Almonty Industries Inc > Processing Two Ores

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Comment by QuarterDollaron Jul 20, 2022 4:06pm

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Post# 34838263

RE:RE:RE:Processing Two Ores

In 2008, Posco consumed about 3,000 tons of Moly annually. I tried to find a current consumption with no luck.
Another thing about Moly is 80% comes from China and most of Moly production comes from the production of copper.
I have found two Moly companies that tried to get off the ground for the past decade and have gotten nowhere. Posco had a 20% stake in General Moly in 2008 but filed for Chapter 11 in 2019 and restructure to become New Moly.
Then there was Desert Mines and Minerals and Australian company that wanted to start Moly Mines projects in South Korea in 2015. Now they are non-existent.
Assuming, POSCO were to purchase 3,000 tons of Moly from Almonty, I calculated profits to be about $30M based upon a cost of $6 per pound. My assumption of moly cost is derrived from Sangdong's tungsten cost.
Bottom line, I don't think Moly will be that profitable considering others have failed for the past decade, it is also a byproduct of copper mining, and China is the leading supplier of Moly globally. Prove me wrong LB !!!