Jun. 30 at 8:05 AM
$GMTLF https://x.com/oliverjfriesen/status/2071843728084365374?s=67&t=WuiMWVbilIu6rXpF1F9vrA
Massive RNS
The company has deliberately used a very conservative tungsten price of US
$197,300/t WO₃, around 35% below the June 2026 spot APT price.
At that conservative assumption:
After-tax NPV8: US
$660M
IRR: 59.6%
Payback: 1 year
After-tax free cash flow: US
$1.06bn
Initial capex: US
$289M
using the actual June spot tungsten price:
NPV8 rises to US
$1.366bn
IRR exceeds 100%
Payback falls to around six months
After-tax cash flow exceeds US
$2BN
Those are extraordinary economics.