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Almonty Industries' Lewis Black on the metal that few no about - tungsten.
August 24, 2016 -- Lewis Black, Chairman, President and CEO of Almonty Industries Inc. (TSXV: AII) in an interview with InvestorIntel Sr. Editor Fred Cowans discuss "the metal that very few no about, but that touches everybody's lives -- everyday." In their discussion, Lewis explains that Almonty’s management team's expertise lies in five generations of tungsten knowledge, their existing portfolio of global tungsten projects and Almonty’s plans regarding Sangdong Tungsten Mine, in South Korea, which has been described as their “crown jewel”. Fred Cowans: Lewis Black is the Chairman, President and CEO of Almonty Industries Inc. Louis, welcome to the InvestorIntel studio via telephone. Lewis Black: Thank you very much for having me. Fred Cowans: I understand we found you in Europe. Europe, of course, is where quite a number of your properties are, Spain and Portugal. You’ve had a busy time this year. You’ve acquired quite a few assets and that’s the story, but I’d like to start, if I may, with talking about tungsten a bit and its main uses. Lewis Black: Well, I would say that tungsten, the uses of it, date back into the turn of the nineteenth century, but essentially 50% of all tungsten is consumed in automobile and aerospace sectors. The car and the plane industries are doing well. There’s always a strong demand for tungsten. Basically I would say with tungsten it’s a metal that very few people really know about, but in fact touches everybody’s lives every day in the sense that it is in everything that you see around you. All manufacturing, anything that generates heat and friction will have a component of tungsten to protect the alloy that is being used to produce that product with tungsten. When you land on a plane, your braking systems, the turbines, when you manufacture the plane or the cars you need the inserts. If you drill for oil, gas, you mine, you need tungsten coated drill bits so various carbines that you use. If you remove tungsten from your life you would not see the same world around you because it is the key component, an irreplaceable key component for manufacturing in all heavy industry. Fred Cowans: Now your expertise and your company’s expertise, as I understand it Lewis, is turning around projects that haven’t been very profitable in the past. Lewis Black: I would say that our expertise is not as a fix it. Our expertise is five generations of tungsten knowledge, that the guys within our core team are fifth generation tungsten experts. Whether they be in essentially the engineering, whether it be the hard rock mining, the open pits, the metallurgical side, geological side, that’s their expertise. Their fathers did it. Their grandfathers did it. We merely acquire sites that previous managements could not make work. You know, one thing you say about tungsten is that for some reason many gold guys seem to think it’s easy because it shares the same density as gold, but it is the complete opposite to mine gold is to tungsten. Tungsten is extremely brittle, which means every process you go through you lose some of the material. That knowledge, to be able to produce this very difficult material to extract has been lost because most of the western mines closed 30-40 years ago. We were very fortunate that our core team came out of our Panasqueria Mine, which has been running for 126 years uninterrupted. There’s that mine and there’s a mine in Austria called Mittersill, which has been going for nearly 50 years now where that knowledge still exists. Outside of that there’s really no consultant you can call, no book you could go to. It’s an extremely difficult metal to work so that’s really our expertise…. To access the complete interview, click here Disclaimer: Almonty Industries Inc. is an advertorial member of InvestorIntel.
Views: 632 InvestorIntel
Investors' asset allocation is key gold price determinant
Subscribe to our newsletter at http://www.goldmoney.com/goldresearch. Private investor Dr John Wolstencroft talks to GoldMoney's Dominic Frisby about what really drives the gold price. They discuss the supply structure for gold and asset allocation towards the yellow metal in percentage terms of average-investor portfolios and global financial assets. Wolstencroft believes that looking at money supply growth and various gold ratios is not sufficient when evaluating the fair price of gold. For instance, most of this gold bull market occurred in the absence of quantitative easing. Rather we should acknowledge that the gold price is set in a complex market of buyers and sellers with a whole range of influencing factors. He states that new mining supply to the market is being offset by growth in population and world wealth. Therefore on the margin gold producers are not playing a big role on the sell side. The determining question for the gold price will be how big a portfolio allocation the average investor chooses to hold in gold and therefore how much global wealth will be hold in gold. Gold supply will only free at the point when people think that they are overcommitted to gold. Currently gold makes up roughly 1% of global financial assets. This ratio is increasing which Wolstencroft calls the real driver of the bull market. He also talks about rising cash costs of gold production and declining ore grades, which are threatening many companies if the gold price were to drop. Finally he emphasises that gold is still very under-owned and in strong hands. This podcast was recorded on 14 October 2012.
Views: 1143 Goldmoney
Buffett's Berkshire Dissolves Stake In Dish
Warren Buffett's Berkshire Hathaway Inc eliminated its stake in Dish Network Corp in the fourth quarter and added a stake in financial giant Goldman Sachs, according to a regulatory filing on Friday. Berkshire had taken the Dish position in the second quarter. The regulatory filing does not disclose exactly when in the fourth quarter that Berkshire sold its 547,312 shares in the satellite TV company. The stock jumped about 36 percent from the end of the second quarter to the end of last year. The changes were disclosed in a U.S. Securities and Exchange Commission filing made public on Friday, which detailed Berkshire equity investments as of December 31. http://us.rd.yahoo.com/finance/news/rss/story/SIG=14rvcbm0h/*http%3A//us.rd.yahoo.com/finance/news/topfinstories/SIG=12oi5bqjn/*http%3A//finance.yahoo.com/news/buffetts-berkshire-dissolves-stake-dish-222531820.html?l=1 http://www.wochit.com
Views: 37 Wochit Business