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Ormonde Mining Share Discussion Threads
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Couple of months old
But a good insight|
|Slight dip confirmed by share price Angel today:
Tunsgten APT European US$208-216/mtu (from the 17Mar week) v US$212-217/mtu (from the 10Mar week)|
|Admiral and Steelwatch thanks for posting and updating. It's worth noting that the company look to still be using the same Opex figures from around 2013/2014, these are not "all in" figures as the debt calculations need to be factored. Admiral you mention the waste handling as a significant part of the costs, this will likely form part of the general mining contract as a whole. Given we're now 3-4 years down from the Opex figures , I'm fairly certain all the cost side will soon be revisited. There should be room for improvement from new technologies / better understanding of the project and the fact the company can bargain from a position of being well financed. I believe the Capex and Opex figures are the same as published in the DFS which predates the funding arrangements with Oaktree? Also impacting in some capacity will be the significant exchange rate changes between Dollar , Euro and pound that we have experienced this last year.
I'd imagine there will be an update on all this in due course.|
|Appears to be a slight drop showing on the APT chart above.|
|Thanks AJ. Header amended. Click the flow chart to open the presentation.|
|Interesting presentation update on the website. Handling the waste is obviously a high OPEx cost. If they could get that cost down even 5% it would help.On the downside oil prices have not increased much, the glut remains, oil industry capex will not be increased much this year, dampening demand for tungsten drilling products.|
|SP Angel today
Tunsgten APT European US$212-217/mtu (from the 10Mar week) v US$210-217/mtu (from the 03Mar week)|
|Thanks for the link etc. If they want prices to move upwards then China is going to have to get serious about reducing supply. A decrease of 3% is hardly a decrease at all, given the increases from U.K. And Portugal.If and when Ormonde produces then that will be more glut on the market.I'll hold on but I am beginning to wonder if the wheels will ever turn in our favour?|
|Thanks 12vic - great to hear its in tight supply.|
|6th March MBulletin
APT sellers hike offer prices in Europe with tungsten units in tight supply
Benchmark ammonium paratungstate (APT) prices gained 5.4% last week, reaching their highest level since June last year as buyers encountered scarce availability in Europe.
Metal Bulletin assessed APT prices at $210-217 per metric ton unit, cif Rotterdam, on Friday March 3, up from $198-207 per mtu a week earlier. Market participants reported a flurry of activity in the first half of the week, during which business was concluded between $210 and $213 per mtu. With prompt units of APT and tungsten oxide in tight supply in Europe, sellers then hiked their prices, with offers as high as $222 reported. Offers above $210 per mtu had "raised...|
|2nd March from MBulletin
Chinese tungsten concentrates and ammonium paratungstate (APT) prices continued to rise this week amid continuing tight supply, with miners keeping their operation rates low for the first half of March.
Metal Bulletin’s tungsten concentrates 65% WO3 in-warehouse China prices were assessed at 77,000-78,000 yuan ($11,208-11,354) per tonne on Wednesday March 1, up by 2% from a week ago. APT export prices, fob China prices were assessed at $206-210 per mtu on March 1, an increase of 2.7% from last Wednesday’s assessment. Tungsten miners have maintained low levels of production because of restrictions on the distribution of explosive materials|
|Yes Steelwatch, the chart looks VERY progressive, all positive for ORM, it would be good to get a decent RNS on project status.
|Thanks Steelwatch price pressure seems to be building.The last high was around $220 , will be watching closely to see what happens should that be reached.|
|SP Angel this morning:
Tungsten – APT European prices $197-207/mtu (from the 24Feb/17 week)
but the chart above suggests things are moving faster :)|
|Still here too!From metalbulletin.com reporting on last weeks Genzhou Tungsten forum meeting:Tungsten concentrates prices in 2017 are expected to run at about 70,000-80,000 yuan per tonne. This would represent a rise of about 5,000 yuan on last year, underpinned by the global increase in demand and the decrease in inventory seen in 2016, a speaker from Yilanwang, a China-based tungsten information provider, told delegates on Thursday February 23. Tungsten inventory in China has decreased to a low level as many small miners halted operations last year because tungsten prices were dropping below the production costs of almost all Chinese miners and China's State Reserve Bureau bought more than 20,000 tonnes of tungsten concentrates during the year. Tungsten concentrates production in China was down by 7% year-on-year to 80,000 tonnes in 2016 as a result of miners ceasing operations, according to Yilanwang's statistics covering 46 major Chinese miners.|
|No change from share price Angel today as reported earlier this month:
APT European prices $195-205/mtu
Guessing the chart above may just be catching up|
|Don't forget me!! I'm still in, have not bought any stock as I'm still paying down debt quickly. Perhaps towards the end of the year I'll start to top up/ average down etcUS stocks seen to have gone off like a rocket, strange things happening these days/ Brexit / Trump/ Greece/ Italy / French elections etcSome articles on zero hedge are almost apocalyptic. Hard to know what's a good investment or a fake one?|
|And me, the best news we can get in the absence of a positive RNS is a rising price for Tungsten............if we become a producing company in 2018 then we can take advantage of an increasing price.
|I can't share the same optimism, but I do share the stubbornness|
|Looking good - pop the champers!|
|Is that a bit of a rise on the APT chart ?|
|Thanks for sharing that Terropol.|
|A friend in the tungsten industry tells me some mines to be closed in China due to pollution....but before they close loads of pour quality tungsten is been dumped in the market. That could be the reason why prices have not started to recover yet....
When all that gets used up we should start to see a new dawn...
and just in time for our production hopefully.|