AIM-listed Aurum Mining, the Spanish-focussed gold and tungsten explorer, has unveiled positive assay results from its second stage drilling programme at the Peralonso Permit in Salamanca Province.

Of the 11 holes drilled at Peralonso to date over 1,267 metres, the company reported that 10 have encountered gold mineralisation in excess of 1 gram per tonne over multiple intersections. Assay results indicate the existence of multiple near surface gold bearing structures within the area of an extensive gold-in-soil geochemical anomaly.

Sean Finlay, Chairman or Aurum, said: ‘We are very encouraged by these results from Peralonso. Of the 11 holes drilled on the permit area to date, 10 have encountered gold mineralisation in excess of 1 gram per tonne over multiple intersections.

These, combined with other exploration work carried out at the permit area, verify our belief that Peralonso and the surrounding area has the potential to host sizeable, near surface gold bearing structures. Follow up work is now being undertaken to enable us to better understand the scale and extent of the opportunity.

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DURHAM -Cree Inc.'s  new LED bulb may be in the same price range as Philips Lighting’s new $15 version, but is it in the same ballpark?Industry publication LEDs Magazine looked at the differences between the two bulbs this week, focusing specifically on the design of each.

The Philips version has remote phosphor actually applied on the dome, an approach that reduces cost by eliminating the optic between the LED and the outer globe.Cree’s bulb, as we’ve already reported, mounts its LEDs on a “filament tower,” aiming to look like a traditional tungsten filament. But it may not be as cost-effective, at least to Cree (Nasdaq: CREE).

In low volume, the LEDs cost about $1.50 each, but for Cree, the price would have to be “substantial, perhaps accounting for more than half of the price of the 60W-equivalent lamps,” the article reads. “Still Cree has taken much of the sting out of buying an LED lamp. Most people will see payback in about one year if the lamp is installed in a high-usage socket.”

LED companies in general have been trending upwards in recent weeks. Greg Sebasky, CEO of Philips’ North American Unit, has been quoted as saying the LED lighting market will grow 40 percent in 2013.However, LED bulbs account for less than 1 percent of the 5.6 billion bulbs used in residential homes in the U.S.

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According to the news of Jiangxi Land Resource Bureau, a huge copper-tungsten mine was found in Zhuxi mining area, Liangfu County, it is expected to contain millions tons of copper and tungsten.

It is said that copper is one of re resources which are badly in need in China, while tungsten is one of advantageous ore of Jiangxi. The mining area has the potential to prospect copper deposit and tungsten deposits, and is very likely to become a production base for large mines. The newly found mine will be of great value both economically and socially.

Two listed corporations, Zhangyuan Tungsten, Jiangxi Copper are expected to make profit from the newly found mine.

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Elite Tungsten announced that it's signed Bassmaster Elite Series pro Matt Herren to its pro staff.

"I use nothing but tungsten weights when I’m fishing," he said. "The sensitivity and smaller profile that tungsten provides plain helps me get more bites. Elite Tungsten weights are the best I've seen. They are 97% tungsten and the line-through holes are diamond-drilled, which eliminates the need for line inserts – I don’t want anything between my line and my weight. Plus they come in six chip-resistant colors."

Said Jimmie Underwood of Elite Tungsten: “We are excited to have a top-level Elite Series angler like Matt working with us. Matt is not only a top-level angler, but he is a great person as well. We look forward to having his input on future Elite Tungsten products.

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China Non-ferrous Metal Mining Co(Guangxi), which is located in Pinggui management area at Hezhou, Guangxi. A deep processing project of the corporation with initial investment over 0.6 billion yuan and total investment over 2 billion yuan  is one of the biggest projects in Pinggui Non-ferrous High-tech Industrial Park, and also the first major project since it has began to operate.

The project  emphasizes on producing a production line with the capacity of manufacturing 5000 tons of APT, 3000 tons of tungsten powder, 1000 tons of tungsten carbide, and 500 tons of tungsten metals and alloy products every year. Since implementation of constructing the project, every section has gone pretty smoothly. It was expected that after the completion of the project, the annual revenue may surpass 1 billion yuan and will contribute 0.25 billion tax.

China Non-ferrous Metal Mining Co(Guangxi), which is located in Pinggui management area at Hezhou, Guangxi. A deep processing project of the corporation with initial investment over 0.6 billion yuan and total investment over 2 billion yuan  is one of the biggest projects in Pinggui Non-ferrous High-tech Industrial Park, it is also the first major project since the branch has began to operate.

The project focuses on producing a production line with the capacity of manufacturing 5000 tons of APT, 3000 tons of tungsten powder, 1000 tons of tungsten carbide, and 500 tons of tungsten metals and alloy products every year. Since implementation of constructing the project, every section has gone pretty smoothly. The project will be completed by the end of the year, it was expected that after the completion of the project, the annual revenue may surpass 1 billion yuan and will contribute 0.25 billion tax.

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Recently, miners return to work one by one and the market supply is replenished, to some extent, this hinders its price rises. The supply and demand is relatively weak in sodium tungstate market and the fluctuations of price is narrow. Aspect of scrap tungsten, businesses keep optimistic mentalit and not hurry to have transactions. Downstream business needs have a slight increase. The actual turnover of tungsten market is expected to improve. It is expected that the mainstream of tungsten department will be stable for short term and some individuals are within a narrow range.

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Non-ferrous metals industry in Hunan Province continuous years of structural adjustment and effectively. On March 6, news came from Province’s Non-ferrous Metal Industry Work Conference said that, in the context of the global non-ferrous metal industry wind blowing, Hunan Nonferrous Metals Industrial rose in contrarian in last year, industrial output value of the national ranking continued to move forward and entered fifth place. This year, the province's non-ferrous metals industry will continue the structural adjustment, to be quality and efficiency.Striving to have a more than 14% separately increase both in industrial output value, main business income and industrial added value.

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Recently, in the China Nonferrous Metals Group Management District  Hezhou Pinggui look high town (Guangxi)  the  UFO Corporation,  the deep processing project site  of tungsten products , many locomotives  are in  land leveling operations rapidly.

The initial investment of tungsten products deep processing projects is over 600 million yuan. It is one of   the important in  China Nonferrous Metal Group with a total investment of over 20 billion Ping Gui UFO non-ferrous metals and high-tech materials industry park. And it is the first major project since  the Ping Gui UFO joined  the China Nonferrous Metals Group  to start construction. The project focused on planning and constructing of an annual output of 5000 tons APT, an annual output of 3,000 tons of tungsten powder, carbide 1000 tons, 500 tons of tungsten metal and its alloy products.  The work of the "five in one" smoothly  progressed since  the project officially  has entered the constructions  by the end of last year and  planed  to put into operation in the end of this year. After the completion of the project, it  is expected to be realized sales revenue of over 1 billion yuan,  profits and taxes of 250 million yuan.


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Yesterday, the latest data released by China Foreign Exchange Trading Center that on March 11, the central parity rate of the RMB against the U.S. dollar at 6.2769, devalued 50 basis points over the previous session.

Although the devaluation appeared, the view in last week, the RMB gained 79 points against the central parity of U.S. dollar. And it is reported last Friday of the RMB against the U.S. dollar central parity 6.2719, breaking a new high since the last two months. In fact, the pressure of RMB appreciation is persisting all the time.

Recently in the major central banks on the international intensive Yee interest period, the major central banks to maintain the previous level of interest rates and monetary policy, and the latest-than-expected trade surplus in January-February, domestic short-term liquidity surge still withstand a certain market outlook RMB appreciation pressure.

ANZ Bank Greater China, Liu Ligang, director of economic research, with the inflow of hot money in China ,the pressure of RMB appreciation also appeared.

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