RE:IIF Update Valtreixal:
- Permitting should be completed this year.
- LB admits they haven't been pushing as their focus is on Sangdong.
- There is increase in appetite for European based tungsten supply.
Los Santos: tailings is an on going conversation, but as LB stated previously, they focus is on Sangdong.
Panasquiera:
- LB admits it is an expensive mine, however the employees contain the knowledge and expertise to build out Sangdong. LBs says it will make $4M - $5M this year.
(Don't expect much profit from Los Santos either).
- 20+ mine life years left.
Sangdong: LB says he knows we want to see more pictures but we are going to have to wait and there is a good reason for that.
- The project timeline schedule has Not changes. Approx 2 months behind.
- Dundee is divesting their entire position. (So another 2.5M shares to be dumped on the market, hence share price will be depressed for a while)
- Construction timeline has been increase. Metso building another drive which should be received sometime in April. The drive weighs over a tonne so it will have to be shipped. We are looking at at least 60 days, then they have to stress test it before installing it. It will be stress tested in SK and not in Europe (as all the others were).
$2M Dilution: 2 Australian Institutions wanted to increase the position to fill up their book.
DownStream: May go back to market but not at these share prices. And if LB decides to go back to the market, the loan and cost of the loan will be neglegible when compared to the value it will bring. (Mmmmm.....How much profit????)
LB says Tungsten is becoming front and center......US says they can't ship tanks to Ukraine because they need tungsten for tank shielding. Europe says they can't send munitions to Uraine because they need tungsten. It is coming from all directions.....