Interesting article suggesting the the price of tungsten is likely to stay firm which will be good news for Wolf - https://www.metalbulletin.com/Article/3776086/Tungsten/2017-REVIEW-China-dictates-tungsten-highs-and-lows-but-global-industry-breathes-more-easily.html
Drove by the mine yesterday on our new road and saw a lot of earth-moving going on, landscaping the boundary areas, I think. Latest report from drilling for tin at Kelly Bray appears to be good. The increase in Tungsten and tin prices plus the dollar/sterling situation should boost profits. All of this should bring net profitability sooner than expected.
On 30 Jun 17 the following non-exec directors were granted approx. £3500 worth of shares in lieue of fees and bought £3572 worth of shares to boost their holdings by around 10%:-
John Hopkins (Non-exec. chairman) now holds 1,243,098 shares Valued at £48,480
Ronnie Beevor (Non-exec.Dir.) 804552 shares valued at £20,629
Nick Clarke (Non Exec.Dir.) Total value of £17,727
Donald Newport (Non-exec.Dir.) Total value £17,727
To accept shares for fees must be seen as a supportive action of these directors and to add their own cash must indicate a commitment and support for the future prosperity of the company. It's nice to see and hopefully things can only get better.
Very rarely watch the box that is why I missed the program. Family member gave me the heads up so went straight for I-Player, so definitely NOT faffing around and NO I do not watch the Cardigans, ever.
Yes, I've been overseas for 3 months and when I returned I too noticed a big difference in what has taken place at the site. Looks like a section of new road has been finished down to the bottom end where the spoil water is collected and the whole hillside has been landscaped in keeping with the moorland surroundings.
Announcement in The Western Morning News that Strategic Minerals PLC and New Age Exploration are joining forces to re-open the Kelly Bray Mine in Cornwall as a tin/tungsten mine. An initial £2m is being ploughed into the operation. The mine closed in the 1930's but the world shortage of tin with two months worth of stocks gives reason for estimates that by 2018/19 the price should reach £30k/metric ton.
The Hemerdon Mine has tin as a by-product at present but locals who have knowledge of the area say that there is a lot of tin still to be found there.
This could be the catalyst to set WLFE on its way to great profits
The debt financing is provided by Wolff,s major shareholder who has supported the Company thru thick and thin. I,m surprised it has not taken the Company private before now. There is a very small free float.
Only for the brave ihmo.
According to the latest update, Wolf expects a cash outflow of just shy of 20 million this quarter. There is about 14 million or so of cash and available loan facility. There is a reasonable expectation of improvements in production going forward, but it doesn't look to me like enough to reach positive cash flow without an improvement in the price received. (Sure to happen some time, but maybe just not yet.)
I can't see anything announced by the company about how they plan to meet the financing shortfall. I would imagine they can raise the money, but not without issuing further equity.
Maybe I am misunderstanding something in the announcements.
Can anyone following this more closely than I have let me know why this share is a reasonable proposition at the moment, even at a price under 5p?
The mine is producing a rare and desirable product which will sell itself once it is out of the rock.There seem to have been some management problems but the operation is built and the need for the material is real and growing. It seems a cheap and very sound investment, long term.
Nothing has changed; new mine, good reserves, rare and necessary product. Management of the company seems disorganised, but the product will sell itself once it is out of the rock. Seems a cheap and promising share to me.
So, they are not where they thought that they would be at this stage due to various factors. These 'growing pains' have to be expected in a new mine. Sounds as though there is room for negotiation, so I would hold on for the present.
The drop in the value of sterling since Brexit gives Wolf an unexpected bonus in dollars due to the pound dropping in value. This should help counterbalance the recent fall in APT on the general market, although I believe that the price of APT to customers is calculated every three months. The future looks bright for Wolf as things balance out. A lot of companies are using this time to get rid of surplus stock and trading on customers being prepared to wait for purchases. Following Carney's supposed stimulus industry now needs Government to make some positive decisions over large infrastructure projects to cause a real impetus. There are a lot of loyal investors in this project waiting for Wolf to announce commercial production.
Had a top up myself & am in this one a lot more than i anticipated to be honest.
Agree its caught up in the sell-off with the mining sector. If the pound should stay low for a while, which is anticipated until some stability, then this would benefit Wolf due to the favorable exchange rate into US $.
Believe that Wolf sell their stock on the open tungsten market & are not reliant on European buyers. Correct me if i`m wrong.
Was reassuring to see that they are making a profit at these lowish tungsten prices although any profits will be to pay off debt.
No choice now but to stick with this one as average is 6.8p, but good to see the buys coming in to support the SP.
Spread is quite large at 12% so not looking very good for anybody trying to short this one. Be nice to see them close them soon at a loss as it will be costing them money to keep them open. Plus they will loose quite a lot of cash when they eventually have to buy them back.
Looking for some large buys coming in soon to get the SP back into the 7p +.
Looks like the phantom shorter is trying to get the price down again so he/she can close the open deal at a lower price. Dosn`t seemed to have worked though as punters are starting to buy in on the drops keeping the SP above their profit margin. If this keeps up then this shorting strategy will stop and they will have to buy back at an higher price.
That is my opinion of what is going on. Any views ?
Would be nice to know what Wolf can produce a tonne for to see what kind of profit can be made. Had a last top up late on & no more. In this a lot more than i`m comfortable with as it seems there is a consistent shorter on this which is keeping the SP down due to low volume trading.
Most probably a PI as all the sells are in the £16K range. Seems to in their favor at the moment as it is out-weighing the small volume buys. This share needs a few big buys to get rid of the phantom shorter....
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