RE:RE:RE:IIF PresentationTo provide additional comments:
- LB is currently in New York. We don't know if it is for family or for business.
- If I recall correctly, in the MoneyLife Interview, LB said something to the effect of tungsten mines in northern Canada were not economically viable due to extreme weather conditions and other logistics. So basically there are no large economical mines in the West. (more on this shortly)
- At this IIF LB stated that demand has declined for Automotive (which I think the market and industry are trying to shift to EVs, which will take time and then demand will resurface unless the price of EVs will price out low income class earners, thus resolving some of the traffic congestion issues in some cities.)
- To make up the short fall in automotive demand is military spending for the next 5 years.
- According to LB, demand in Europe is not great, but for the US it is off the charts, and for Asia it is strong.
- If there is no Western supplier for tungsten, it raises the question where the US will get their supply especially when they want to move away from China/Russian tungsten, plus the market wants a visible supply chain.
- All of Almonty's tungsten supply is earmarked for GTP and the remainder to SK. There is no extra supply to be sold to any other consumer.
- Furthermore, the US don't want mines in their backyards. Is this the reason LB is in New York again???? (Last time was in Nov 2022)........ Two visits to New York in a short period of time. With limited suppliers of tungsten in the world, and with a very large tungsten resource, Almonty may be the US' only supplier of choice. Time will tell.