The mainstream scrap tungsten price maintains steady. The transaction price excluding tax of domestic blade is ￥171.00-￥174.00/kg; imported blade is ￥181-183/kg; scrap tungsten bit still concentrates on ￥187.00-￥190.00/kg scrap pure tungsten block is ￥208.00-￥213.00/kg.

Todd Corp, the investment company of New Zealand's wealthiest family, has acquired a 19.9 per cent stake in Wolf Minerals as part of a placement to help fund the ASX-listed company's development of a Tungsten mine in southwest England.

TTI (NZ), a unit of Todd, subscribed for 39.4 million shares in Wolf at 27 cents apiece, a 12 per cent premium to Wolf's 30-day volume-weighted average price, the Perth-based company said in a statement to the ASX. It may acquire more shares in 2013.

In total Wolf raised $A20.3 million ($NZ25.62m) in a placement of 75.4 million shares including to existing major shareholders Resource Capital Fund V, a Denver-based private equity fund, and Traxys Projects, a specialist financier for resource projects.

Wolf, whose shares trade on both the ASX and London's AIM market, is focused on developing the Hemerdon Tungsten and Tin Project in Devon, which it says is one the largest undeveloped tungsten and tin resources in the western world. Wolf holds an option over 100 per cent of the project.

The placement is a key condition of a US$75 million bridge finance facility and $US7 million ($NZ8.49m) royalty from Resource Capital Fund (RCF), which has provided funding to allow the project to start.

The royalty payment is an advance payment on 2 per cent of gross revenue from the project which RCF has acquired.

Wolf needs to raise additional equity in 2013 of about STG45 million pounds ($NZ88.23m) to repay the bridging finance and has been in talks with both RCF and Todd to take up about 25 million pounds of that.

Shares of Wolf last traded at 27.5 Australian cents on the ASX, valuing the company at A$31.4 million, and have climbed 25 per cent in the past month. Because of the size of the capital raising, the plan requires approval of shareholders at a meeting in Perth on Jan. 24.

Tungsten Manufacturer & Supplier: Chinatungsten Online - http://www.chinatungsten.com
Tel.: 86 592 5129696; Fax: 86 592 5129797
Email: sales@chinatungsten.com
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Serious imbalance exists in tungsten concentrate market that some traders holds too much stock in their warehouse. Under current situation, it is hard to consume stock shortly. Mainstream price of 65% Tungsten concentrate focus on ￥114,000.00-116,000.00/t, and the real transaction price may be lower.

Chinatungsten Online analyzes, the supply and demand of tungsten concentrate market are not balance this year, in addition to drastically price rising recently, which both lead to high market stock. Some tungsten suppliers who under high fund pressure are hurried to get cash which lead to price easing. Individual tungsten suppliers notes, if transaction can be gone through by cash, their quotation can reduce to ￥110,000.00/mt. Chinatungsten Online expects tungsten concentrate prices would reduce constantly, and the real transaction price could be even lower.

Tungsten Manufacturer & Supplier: Chinatungsten Online - http://www.chinatungsten.com
Tel.: 86 592 5129696; Fax: 86 592 5129797
Email: sales@chinatungsten.com
Tungsten News & Tungsten Prices, 3G Version: http://3g.chinatungsten.com
Tungsten News & Tungsten Prices, WML Version: http://m.chinatungsten.com

Chinese tungsten concentrate market still runs slowly this week, and as most consumers are cautious to rebuild stocks, the tungsten concentrate prices decrease. The offers for tungsten concentrate increased slightly in early this month, which were mainly pushed by the large-sized companies, while the customers were unwilling to accept the high level and the trading was thin in the spot market. Tungsten ore is oversupply and the price is hard to stay steady at present. Some tungsten traders have to undersell their goods under high pressure of fund. Moreover, the demand of end users are depressed, and the downstream enterprisers consume their high level stock in very slow way. Quotation of individual products falls into chaos, thereby increasing traders hold wait-and-see attitude and real transaction volume is low. Chinatungsten Online expects individual tungsten products price will reduce consistently, but not in a large range.

Tungsten Manufacturer & Supplier: Chinatungsten Online - http://www.chinatungsten.com
Tel.: 86 592 5129696; Fax: 86 592 5129797
Email: sales@chinatungsten.com
Tungsten News & Tungsten Prices, 3G Version: http://3g.chinatungsten.com
Tungsten News & Tungsten Prices, WML Version: http://m.chinatungsten.com