Almonty Industries Inc T.AII

10 IIF Notes

[whoisyourpapa]

There was lots of rapid fire info - hard to keep track of everything but this is what I remember:

• Tungsten prices slated to go up as China removes import duties
• Confirmed ther IS a group that is selling.  Weirdly this group was not happy with Almonty purchasing Sangdong?
• IMC is investing $100 Mil in an oxide plant in SK
• Pace of downstream approach is accellerating
• Moly discusstions progressing
• Reaffirmed he will not be posting pictures.  Spoke of NGOs again.  Wants to be discreet
• At Pana they are in to Level IV - EU also interested in the material not just USA
• They have "somethng in mind" for the Moly mine
• Paperwork being done for the next drawdown
• He wants no surprises when the lights are sweitched on at Sangdong
• Phase I (sangdong underground) concludes in September 
• They are runnng out of space to store the ore

Don't rely on the accuracy on any of the above.  Just trying my best to recount everythng said. . .

whois

[QuarterDollar]

@Whois....pretty good summary! To comment further..... China is building a tungsten recycling plant in SK..... (Why???  China Gov't is not going to subsidize Chinese Tungsten companies anymore, so the price will be set by the market.  If China had enough tungsten which I still believe they do, then why go into recycling in another country?  I am wondering if China

[rockminer56]

I agree with your notes whosis,....however the very biggest bit of info I took from the presentation is that; Moly work is going to go ahead THIS year, with the suggestion there could be more drilling to outline the deposit so as to be in compliance with reporting on actual reserves. We should also remember there are credible reports that the deposit "in situ" has a estimated value of 2