Well let's say I own at least 20 shares of it at US$.17 average. I might try to get more at this point but the supply is tight now as the company plan is pretty well funded and bid orders outweigh sell orders. US$2 has been suggested as a target price over the next 12 to 18 months.
Your concern on the flooding is well founded. That's what drove the company into reorganization in the first place, but times have changed. Here's an excerpt from some research someone gave me:
Currently, Chinese ferrotungsten producers have been in a hobble. On the one hand, as forecast by the Ferro-alloys.com in the preceding period, the market for ferrotungsten in China has been on the rise, mainly driven by the strong demand and the tight supply. At the present time, the transaction price of ferrotungsten (75%) in China has lifted to USD 13.5 per kg, FOB CMP, compared with USD 11.6 per kg in mid Dec. On the other hand, the supply of tungsten concentrates in China has been increasingly tight. “We have suspended offers from last week because we have no spot materials,” said a producer in North China,adding that the short supply of tungsten concentrates reined the normal production. He pointed out, “The price is indeed satisfactory, but the supply of tungsten concentrates is very shorter.” He added, “We are collecting tungsten concentrates across China so as to make sure the normal production next month.” He revealed that their export price of ferrotungsten last week reached USD 12.5 per kg, FOB CMP. “After the New Year, the price will quickly increase to USD 14 per kg, FOB CMP, and by then European clients will be likely to face stronger pressure,” he estimated.
No one seems to be in a position to flood the market anymore.
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