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KIS, KING ISLAND SCHEELITE LIMITED
mondo45
post Posted: Apr 11 2006, 09:27 AM
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JORC Resource numbers released to the ASX at 8:30 am this morning.

 
kalboy
post Posted: Apr 3 2006, 05:45 PM
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JORC compliant resource figures will be released very very soon and good figures should see a significant uptrend in the share price. KIS are sitting on a significant resource and the latest completed drilling program should further extend the ore reserves. Also the information about the BFS will be released soon. Read an article about KIS and found an interesting section that further highlights the commerciability of the deposit.

"KIS directors say the project will be a reliable, low cost producer.

The capex for the project initially put at $25m is now considerably higher. The original PFS identified a cash operating cost of about $US41 a metric tonne unit (mtu) and a payback of about two years at a $US75 a mtu tungsten price.

While a long term concentrate price of $US75 a mtu is assumed, other greenfield tungsten projects under consideration in Vietnam and Portugal assume $US100 a mtu in their feasibility studies, while the current spot price is $US215, which has risen astronomically on strong Chinese demand and recognition that China’s mines, long the dominating producers, have significant production and reserve problems."

http://www.ferret.com.au/articles/07/0c03c007.asp
(if you would like to read entire article)



 
kalboy
post Posted: Mar 31 2006, 02:24 PM
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Was running my ruler over a couple of shares and came to King Island Scheelite and realised this was a sleeping giant. It is one of the most tightly held shares on the ASX, saw someone just about out the entire market this afternoon and unfortunately i just missed out, but will be looking for any decent sellers, as this is a definite winner. Directors have been buying a bundle of these and the BFS for their Scheelite mine in Tasmania is due to come out any day.

The mine is said to have 4.1 million tonnes of ore at 0.91% WO3. WO3 is approximately made up of 70% tungsten. The price of tungsten has skyrocketed since they took over the project a couple of years ago.

Now if we work this out. Tungsten is approximately US$280 per mtu on today's market. (mtu = 10kg)
4.1 million x 0.0091 x 0.70 x 100 = 2 611 700 mtu of tungsten.

2 611 700 x 280 x 1.33 = AUD$972 597 080 !!!!!!!
This is equivalent to a 1.2 million ounce gold resource,
WHICH IS MASSIVE FOR A COMPANY THAT IS VALUED AT AUD$30 MILLION!!!!

The best part is they believe the ore could extend for a long way to possibly increase ore reserves to 18.1 million tonnes and if it continues at the same grades this could equate to a project, with a value of approximately 4 billion dollars. (Equivalent to a 5.3 million ounce gold resource).

They have been drilling this quite a bit to prove resource and I said before the BFS is imminent.

This share could be worth 5 times its value in a matter of months.

Very exciting share that acquired the right project at the right time.

Happy Trading! lmaosmiley.gif

 
mme
post Posted: Mar 22 2006, 09:16 AM
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In reply to: tradem on Tuesday 21/03/06 10:54pm

Tradem I think I'll take the punt once the contracts are finalised and BFS is sorted. But it is on the radar screen. I was actually interested in a mining sands venture which is rumoured to be starting on the island soon thus my stumbling across this one. Will keep you posted.

P.S. Enjoy your posts particularly on OMC. Watching that as well and looking closely at what you've said. biggrin.gif

 
tradem
post Posted: Mar 21 2006, 10:54 PM
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Hi mme

I had a look at it just as a matter of interest.

I am a little wary of exotic metals like Kaolin, Rare Earths etc where the major buyers are Chinese and the major sellers are Chinese. It is hard for Australian suppliers to break into the China supply market when competing with local Chinese producers who have lower production costs, lower wage costs, lower infrastructure costs, no shipping costs and no language barrier.

The Tungsten market seems a bit like that in that the market is very much dominated by Chinese producers and the end users are likewise mainly Chinese. But the fundamentals of Tungsten seem very positive.

I hope they can make it work as the King Islanders are a friendly bunch and the island is beautiful in its own way.

Good luck if you have a punt.



 
mme
post Posted: Mar 20 2006, 02:00 PM
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In reply to: ShareScene.com on Monday 12/12/05 03:50pm

Obviously someone wanted this created. I've been running the ruler over this one and would appreciate people's comments on it. Looks interesting to me. Don't know what the previous/current company history is like. Thanks in advance. Not holding. biggrin.gif

 


ShareScene.com
post Posted: Dec 12 2005, 03:50 PM
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Created by request:
KING ISLAND SCHEELITE LIMITED (KIS)

Thankyou
Sharescene.com

 
 


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