Leyshon Resources Share Discussion Threads

[zztop] 21/11/2014 16:19

mmmmmmmmm....tungsten in demand?

[child rebel soldier] 20/11/2014 09:33

Found this just googling tungsten and Korea



Korean tungsten project gets Berkshire Hathaway investment

29TH FEBRUARY 2012 BY: MATTHEW HILL

TORONTO (miningweekly.com) – He may not like gold much, but billionaire Warren Buffet has taken a shining to tungsten – the metal with the highest melting point.
Berkshire Hathaway unit IMC International Metalworking Companies this week agreed to invest around $80-million in TSX-V-listed Woulfe Mining’s Sandong project in South Korea, which was once the biggest tungsten producer.
The deal involves IMC buying a 25% stake in the shuttered mine for C$35-million, investing C$19.25-million in a joint venture to build a plant that will produce ammonium paratungstate (APT), the metal’s tradeable form, and agreeing to provide up to C$15.75-million in a loan to fund Woulfe’s share of the capital cost of the plant.
The mine at Sandong, as well as the APT plant are set to start producing early in 2013, when the operation will reclaim the title as the world’s biggest producer, accounting for 7% to 10% of global output – and half of non-Chinese supplies, Woulfe CEO Brian Wesson told Mining Weekly Online.
To get there, the company will need to raise around another C$80-million in debt.
Woulfe will look to use a feasibility study due out in “the next few weeks” to do this, with Wesson hoping to finalise the funding around June.
That will bring the total financing for Sandong and the APT plant up to around C$150-million, with capital cost estimates currently at C$135-million.
Given the strong performance of Tungsten prices over the past two years, and the attractive economics of the project, Wesson does not foresee any problems in raising the additional financing required.
Prices for the metal, used to make wear-resistant abrasives and cutters for the metalworking industry, were $18 000/t when Woulfe bought the Sandong project in 2009.
Today, they have reached around $44 000/t, as demand grows and China, as is the case for rare-earth elements, has curbed exports. The metal is usually quoted in metric ton units, with Metal Pages listing the most recent price at about $435.
Rare earths prices showed even more drastic meteoric rises throughout 2010 and into the first half of 2011.
However, these rocketing prices turned out to be their own worst enemy, as buyers retreated from the market and began intensively developing alternatives.
Wesson is not expecting tungsten to follow a similar scenario.
“Even at a price of $600 it would never pay to go to equivalents. The issue with tungsten is, you can’t machine steel without it, you can’t roll steel without it,” he said.
“To create economical alternatives would be very difficult, very pricey and take many years.”

[pro_better] 20/11/2014 09:29

getting into tungsten is a smart move...however, as the company is private it is difficult to know about the economics of the mine etc...
hopefully LRL after the deal is done will advise us with more details...

[rvsy38] 20/11/2014 09:17

sirraman

I don't think there will be a placing ; I believe it will be bank finance.

[sirraman] 20/11/2014 09:11

At lasts some movement here....at least Mr Nolan here has been doing something for his money compare to the heavyweight BoD at LEN..!!! This may be a good deal for LRL ...so be interesting to see what price the placing/funding is gonna be at and then if agreed we may have a name change as well to leave the LRL fiasco behind....:o)

[boadicea] 20/11/2014 08:44

I believe Tungsten is a metal on which China has something of a stranglehold.
This could increase the attractiveness in S Korea of having an independent supply and may account for the ability to raise capital for the project.

[pro_better] 20/11/2014 08:23

we need more details about International Tungsten Services Limited ("ITS")....

[rvsy38] 20/11/2014 08:21

A long awaited deal which sounds very exciting as it is in a project in a seemingly advanced state for a fairly rare commodity which is in demand.

It shows the financial muscle of Leyshon's directors in being able to raise US$ 13.5 million in these trying times for mining projects.

I would imagine when the company comes back after suspension the share price will be multiples higher than the price at suspension !

[pro_better] 20/11/2014 08:18

so they need to raise c. US$14 million....

[edward3] 20/11/2014 07:31

Yep, shares suspended on aim pending completion ..

[useless23] 20/11/2014 07:29

News at last!

[loverat] 29/10/2014 12:27

I wonder if this will come right back down again. Seems to be no substance to the rise.

[the stigologist] 29/10/2014 11:56

pleb on the rampers thread trying to pump this lame duck it seems

[the stigologist] 24/10/2014 17:01

Fireworks around November 5th then

ha ha

[pro_s2009] 24/10/2014 16:56

After Halloween I think for me - clear up the rest of the margin crew and then onwards.

[the stigologist] 24/10/2014 15:34

let a few margin clerks smash up mug punters who have been chasing Horse Hill posse i reckon

[pro_s2009] 24/10/2014 15:13

LOL :)

Its getting near time for me to start buying shares again - a good long rest - let all of them collapse while I am out - and now time to start buying at the bottom :)



The Stigologist
23 Sep'14 - 10:35 - 796 of 798 0 0

remember derampers never deramp a bad share

pmsl

[useless23] 24/9/2014 22:54

Oh, and I forgot to mention GKP! probably the worst of them all....

[useless23] 24/9/2014 22:51

Pro,I see your beloved TRAP and EXI are both performing dismally.

[the stigologist] 23/9/2014 10:35

remember derampers never deramp a bad share

pmsl

[pro_s2009] 22/9/2014 12:19

I see LEN aka before LRL continues to fail in China.

Now I wonder why it was so easy to predict failure there - years ago............


;)

[sirraman] 15/9/2014 08:57

yep......repetition not a single sign to move this forward in 6 months ! The BoD should have made up their minds on where this company is going on the said projects by now and moved on to other opportunities..!!

Wonder what's happened between this report (end Jun) and now ....presumably not much but more cash burn ??

Maybe another 3 months or so left for them to do some thing to keep the listing on AIM after losing the ASX lis.....ffs!

Sirra

[mpclag] 15/9/2014 07:29

same old report every 6 month-I'm sure that all they do is change the date.

[pitot_heat] 15/9/2014 07:07

So nothing happened since the quarterly report then basically