Conclusion

 

Los Santos is clearly the milch-cow that feeds the rest of the Almonty empire. With its reserve, its stockpiles, it tailings to rework and the planned mini- “super-pit”, it should have another four years mine-life at least. Wolfram Camp’s turnaround has essentially been funded by Los Santos as has the Valtreixal mine plan. Planning is already advanced for Valtreixal to pick up the slack and use equipment and personal form Los Santos as it becomes available. Then there is the Sangdong mine which really awaits a price turnaround to fire up its motors.

 

Almonty’s management team, last decade, managed to get one Tungsten producer (Primary Metals) off the ground and now they are on their second go-around. This time they are not building to sell it but rather putting together a long-term producer and creating that hitherto elusive investment opportunity, a geographically diversified multi-mine Tungsten player. As they say, seeing is believing and certainly the mine trip brought home that Almonty is a tightly run operation with somewhat of a dream team in having corralled a goodly proportion of the Western World’s Tungsten “brain’s trust” into its employee ranks.