Nice.
I don't do penny stocks like all these small time miners. But since I've been blessed with an all time high portfolio, I'm more willing to gamble on shady shit.
If you got any more tips (industry or individual stocks) please post. I would never have tungsten investing ever in my head unless I read your post. But more knowledge the better.
The company
King Island Scheelite | Welcome to King Island Scheelite (
ASX stock code: KIS) basically has a resource rich Tungsten mine that was active from around 1920-1990, it closed due to world Tungsten prices not lack of resources in the mines there. They dabble with the open cut mine but have underground mines and have drained the open cut mine as well, due to inactivity. In 2005 they ditched out of deal China was buying up parent companies behind the scenes and last year western world governments listed Tungsten as an essential rare earth metal. China has around 80+% of world supply and Tasmania (state in Australia) has a high grade supply with this company. They got $2.5 mil last year to restart things all Aussie owned and backed by Rio Tinto. Just yesterday they got $10Mil from the Tasmania state government to really get things moving.
The good part in my speculation is the federal government of Australia is also tipped to announce a further $15Mil to push this along as basically the only western world Tungsten supplier. Tungsten is used on drill bits for mining, weapons, rockets, defense systems etc. KIS have also secured the port 1Km from the mine itself and can ship quality and quantity to Victoria, Australia ports for all around the world from there. In short they're ramping up for real world production as quick as they can and the Aussie government are backing them to become a major western world supplier to reduce reliance on China. The number 2 of Tungsten supply globally essentially. The USA have zero Tungsten mines in operation, for some reference.
KIS traded at highs of $1.25 when the major deals were announced and stalled in 2005, they paid back $3Mil to get out of China tyring to back channel buy into their global deal back then. It's all back in the swing now with recent world events and KIS have access to the resources, just not the mine in operation, which they are pushing for. The market is expected to grow from $1Bil to $5+Bil or something like that.
I got wind of it but missed the recent announcement, I'm not missing out the next govt grant announcement and the longer term rise back to full operations, not sure how long that will take but I'd imagine KIS will ramp up significantly with Rio Tinto and Australia having their back. My longer term speculation is KIS will far exceed their 2005 high of $1.25 within 1-2 years.
EDIT: Sounds like me as well. I too have made an all time high with a new second personal portfolio I stared during Covid mid-late last year. It's a more aggressive speculative portfolio and so far I'm up on 4 out of 4 stocks by 76% as of yesterday. I'm adding about $1-5K (yet to decide) for KIS mentioned in this post and will sit on it for awhile.
FAKE EDIT:
Another stock I came across from a client of mine. Apparently a little longer term as well but touted to go large in coming years. I'll sit on the gift from my client and see what happens.
