Almonty Industries Inc T.AII

Fireweed announces agreement on Mactung tungsten project

[therunner]

Any views on this Canadian tungsten project ? Sorry in case this was already discussed here in earlier years, must have missed it:

Fireweed Announces Signing of Definitive Agreement on Mactung Project (tmx.com)

[QuarterDollar]

@therunner I don't think they have any intention to develop Mactung.  First of all, tungsten requires a specialized skill which has been lost in North America, so I doubt they have that skill set. Secondly, they need at least $400M to develop their Zinc project and since mines take at least 10 years to get into production, those CapEx costs are only going to increase with

[therunner]

You are making some good points, QuarterDollar although I am not sure about selling the tungsten property for the zinc mine. They make a big deal out of the fact that both sites are close together and have a lot of synergies. And they seem to be backed by the Lundin family... In any case, I hope we will have cashed our first dividend checks before construction starts at Mactung !

[QuarterDollar]

@therunner.....well I hope I am wrong because it will give me another company I may consider investing in.