Opinions
Michael Smedley
North American Tungsten Corporation Ltd.
NTC-X
DON'T BUY
Jul 30, 2012
$0.210
Stock price when the opinion was issued
metal mines
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COMMENT
The price of tungsten has gone up a lot. At the current price of tungsten, the stock is trading at a very low multiple. The life of their current mine will end soon but management feels it could be extended. They also have another mine which has a lot of resources and will cost a lot to put into production.
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Stuck with all the non-basic metals. Have a couple of great assets but haven't got the financing of the new one. Market demand at the moment doesn't suggest that they should. There are several other names that come to the fore indicating there is a lot of tungsten globally. You have to wait for a general recovery in resources.