Tungsten Mining has signed a memorandum of understanding (MoU) with a Chinese investment group that would see a number of that company’s clients invest up to A$15-million in Tungsten Mining.

The investment would take place through a share subscription that would be undertaken in three tranches.

The first tranche would consist of some 12.5-million shares to raise A$2.5-million, by the end of September. The second tranche, which would have an equal number of shares, would be issued by the end of October.

The third tranche, which would consist of some 30.3-million shares, and would raise A$10-million, would be issued by May next year.

Tungsten Mining said on Monday that subject to the A$15-million raising, the MoU also provided for a definitive offtake agreement under which the investors would be entitled to acquire 50% of the Kilba project’s tungsten concentrate production, at a discount to the prevailing market price.

Tungsten MD Paul Berndt said that both the offtake and subscription agreement were subject to due diligence, as well as shareholder and regulatory approval.

“This backing will ensure that we can accelerate the definitive feasibility study of our Kilba project, and will firmly set the company on a trajectory towards developing its first tungsten mine,” Berndt said.

A recently completed scoping study into the Kilba project indicated that a 1.1-million-tonne-a-year operation could be developed for a capital investment of some A$56-million. The project, which would have an initial mine life of seven years, would deliver some 154 000 t/y of tungsten.


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Mitsubishi Materials Corp. reported an increase of 16% in consolidated group net sales for the first quarter of its new financial year (2013/2014) ended June 30 to Yen 423 billion ($4.4 billion). There were reported increases in sales for cemented carbide tools as a direct result of the depreciation of the Yen, but sales of PM parts decreased due to the end of eco-car government subsidies in Japan.

This is largely due to the 13.5% rise in cement sales and a 13.8% rise in sales of the metals division. MMCs ‘Advanced Materials & Tools’ division, which includes Diamet Corp, Mitsubishi Materials Tools Co., Ltd. and MMC Superalloy Corp, continued in negative territory in the quarter with a 1.7% decrease in sales to Yen 36 billion ($369 million). However, operating profit for the Advanced Materials & Tools division increased by 15.1%.  Anyway, sales for cemented carbide were increased as a result of this depreciation.


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Flight control system

Tungsten alloy weights are usually used to optimize the flight control performance, such as rudder, elevator and ailerons, have a greater advantage than other traditional materials such as steel or lead.

Rotor blades

Helicopter rotor blades require the best balance. Tungsten alloy can be installed in an imbalance in the location of a single leaf in the manufacturing process, such as in helicopter balancer.

Propeller

Tungsten alloy weights can be loaded fail-safe device, in order to avoid the problem of speeding.

Inertial system

Tungsten alloy can be loaded to control the rotation of the gyro flywheel to store kinetic energy. Tungsten alloy used in this gyroscope has two main purposes:

1) To adjust the center of gravity of the triangle.

2) To adjust the beam of the laser oscillation frequency.


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Happy Creek Minerals Ltd. is pleased to announce preliminary results from the first drill hole of the 2013 program on its 100% owned, 165 square kilometre Fox tungsten property. The Fox property is located approximately 75 km northeast of 100 Mile House, in the south-central Cariboo region of British Columbia, Canada.

At the RC prospect, drill hole F13-01 is a step out approximately 40.0 metres west of F12-17 (20 metres of 0.63% tungsten trioxide (W03). F13-01 is a vertical hole that was lost at a depth of 30.4 metres while in the mineralized zone due to a drilling problem. The favorable geology consists of calc-silicate and skarn which was intersected from surface, with trace tungsten beginning from 8.0 metres. Starting at 26.8 metres the hole intersected 2.72 metres grading 2.01% tungsten trioxide that is thought to be near true thickness. Other values in this interval include 0.27% zinc, 1.85 g/t silver, 0.09 g/t gold and 1.63 g/t indium. This drill site was subsequently repeated and completed through the favourable horizon and results are pending.

On the Fox property, positive values of tungsten occur in rock, stream sediment, soil and drill core in a 10 km by 3 km area. Drilling by the Company in 2007 at the Nightcrawler zone outlined positive tungsten values in multiple horizons over an area 1.5 km by 500 metres in dimension. Four kilometres to the north, four outcropping mineralized zones are named from south to north the 708, BN, RC (Ridley Creek) and BK prospects. These prospects are within a favorable target horizon (calc-silicate or skarn) spanning a distance of three kilometres and a lateral extent thought to be greater than one kilometre.

A review of drill results from the Fox property to date identified 23 intervals averaging 3.1 metres and 2.41 % tungsten trioxide that comprise a portion of the favourable horizon thickness. Drill highlights from 2011 and 2012 at the RC prospect include 7.35 metres of 1.22% tungsten trioxide, 19.4 metres of 0.82% tungsten trioxide, 11.0 metres of 0.80% tungsten trioxide, 20.0 metres of 0.63% tungsten trioxide and 24.7 metres of 0.68% tungsten trioxide. One kilometer south of the RC prospect, drilling at the BN prospect returned three intervals in hole F12-27: 4.1 metres of 1.78% tungsten trioxide, 14.8 metres of 4.0% tungsten trioxide and 24.0 metres of 0.79% tungsten trioxide including 5.8 metres of 2.01% tungsten trioxide. One kilometre north of the RC prospect, drilling at the BK prospect returned 5.0 metres of 0.68% tungsten trioxide. (Refer to Press Release dated November 19, 2012).

A grade of 2.4% tungsten trioxide contains 24.0 kg W03 per tonne of rock, and tungsten prices are around US$35.0/kg W03 in concentrates and US$42.0/kg W03 as upgraded APT (ammonium paratungstate) (1).

Tungsten is regarded as a strategic and critical metal for industrialized countries. Over 50% is used in cemented tungsten carbide to make cutting tools for the construction, metalworking, mining, oil and gas drilling industries. The balance is used for heavy alloy in applications requiring high temperature stability and density in electronic components, super-alloys, wear-resistant alloys and chemicals for various applications. Tungsten is being used and evaluated as a more effective radiation shield than lead, requiring 1/10th the thickness of lead (2). Zinc and indium also occur with tungsten at the Fox property. Indium is a rare metal used in liquid crystal applications such as touch screens and prices have risen to over US$550/kg ($5.50/gram).

The proximity to infrastructure, near surface setting, large scale and presence of high grade tungsten are thought to make the Fox property a unique and attractive new discovery in the global tungsten sector.


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