The news from 2013 Annual Work Conference of Zijin Mining Group: in 2012, the Group invested 450 million Yuan (equivalent to USD 71.68 million), and made significant breakthroughs in geological exploration, which discovered 60.45 tonnes of gold, 408,000 tonnes of copper, 2,046,700 tonnes of lead and zinc, 17,200 tonnes of molybdenum , 161,400 tonnes of tungsten, 126.4 tonnes of silver and 1,185,700 tonnes of iron ore. Meanwhile, the total mining rights obtained are worth of almost 5 billion Yuan (equivalent to USD 796.44 million), and the potential value of newly-proven mineral resources reached 100.2 billion Yuan(equivalent to USD 15.96 billion).

Zijin regards mineral resources as the foundation for an enterprise to survive and develop, regards resource control as the major strategy, and insists on exploration together with acquisition. Meanwhile, it implements diverse resources strategies, including mineral prospecting at the depth and adjacent areas, risk exploration, merger and acquisition of domestic and oversea projects, and improvement of comprehensive utilization of mineral resources. Currently, over 60% of resources held by Zijin are from self-exploration, and the increase in resources and reserve are much more than its consumption, which firmly lays a solid foundation for company's sustainable development. So far, Zijin still keeps the title of "the enterprise with most maintenance of metal mineral resources in China". The potential value of holding resources exceeds over 1 trillion Yuan(equivalent to about USD 159 billion).

In 2012, Zijin increased its investment in geological exploration. Relevant statistics show that the exploration cost Zijin invested in 2012 accounts for over half of the total investment in the past three years. "the input-output ratio in our exploration is the highest, according to the current situation, the increase in copper resource and reserve in Zijinshan in the next several years are estimated to reach 4-5 million tonnes, which equals to half of the planned increase in copper in next three years in China." told by Zhang Shunjin, President of Zijin geological exploration institute.

Mr Zhang made a calculation and found out: 60.45 tonnes of gold with mining rights and potential value worth1.2 billion Yuan(equivalent to US 191.15 million) and 21.5 billion Yuan (equivalent to USD 3.42 billion) respectively; 408,000 tonnes of copper with mining right and potential value worth 1.224 billion Yuan(equivalent to USD 194.97 million) and 24.5 billion Yuan (equivalent to USD 3.90 billion)respectively, 2,046,700 tonnes of lead and zinc with mining rights and potential value worth 1.28 billion Yuan(equivalent to USD 203.89 million) and 30.7 billion Yuan(equivalent to USD 4.89 billion) respectively ; 17,200 tonnes of molybdenum with mining right and potential value worth100 million Yuan(equivalent to USD 15.93 million) and 2.8 billion Yuan (equivalent to US 446.01 million)respectively; 161,400 tonnes of tungsten with mining rights and potential value worth 1 billion Yuan (equivalent to USD 159.29 million)and 19.4 billion Yuan (equivalent to USD 3.09 billion)respectively; 126.4 tonnes of silver with mining rights and potential value worth 25 million Yuan (equivalent to USD 3.98 million)and 600 million Yuan (equivalent to USD 95.57 million)respectively and 1,185,700 tonnes of iron ore with mining rights and potential value worth 25 million Yuan (equivalent to USD 3.98 million)and 700 million Yuan(equivalent to USD 111.50 million) respectively. The total value of mining right above reaches 4.854 billion Yuan (equivalent to USD 773.19 million), the total potential value reaches 100.2 billion Yuan (equivalent to USD 15.96 billion). "It means that the nearly 500 million Yuan (equivalent to USD 79.64 million)invested by Zijin in geological exploration in 2012 creates mining rights worth almost 5 billion Yuan (equivalent to USD 796.44 million)and potential value of mineral resources exceeding 100 billion Yuan(equivalent to USD 15.93 billion)!!!"

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Famous material scientist, academician Changxu Shi won 2010 National Science and Technology Awards on Feb. 14, 2013. His materials research is widely used for fighter engine in China.

Changxu Shi, male, is born in November, 1920 in Xushui County, Hebei Province, and is graduated from National Northwest Institute of Technology in 1945. He gained metallurgy doctorate in Oute Dan University, America in 1952. He was actively involved in the struggle to fight to return back China during the three-years working at Massachusetts Institute of Technology. He returned back China finally in 1955. He wa in office as director for Metal Research Institute of Chinese Academy of Sciences, director for Science Technological Division of Chinese Academy of Science, deputy director for National Natural Science Foundation Committee of Technological Sciences, deputy dean for Chinese Academy of Engineering, etc. Now he is special adviser to National Natural Science Foundation Committee, honorary director of the Metal Research Institute of Chinese Academy of Sciences. In 1980, Changxu Shi was elected as academician of Chinese Academy of Sciences. In 1994, he was elected as academician of Chinese Academy of Engineering.

For many years, Changxu Shi dedicated to materials science research and engineering applications, he is the first one who carries out the research and development of high temperature alloys such as tungsten alloy, molybdenum, titanium, manganese, rare earth materials and new type of alloy steel in China. Tungsten alloy, molybdenum, titanium, manganese, rare earth and other high-temperature alloys are the core material for aero engine. In the sixties of the last century, our fighter engine urgently needs high-performance and high-temperature alloy blades, he led his unit to develop the turbine blade for casting abalone high-temperature alloys, and these superalloy turbine blade casting abalone developed to solve a series of technical problems, so as to make turbine blades of our aero engine into a new level, which is from forging to casting, from solid to hollow, become the second country who developed the key materials technology by itself after the United States. So far, it has been widely used in fighter engine in China. In 1985, he gained the first prize of National Science and Technology Progress. He developed the low segregation alloy technology in metal solidification theory, reduced the alloy solidification segregation through controling trace elements effectively. On this basis, the researchers at the Institute of Metal Research, Chinese Academy of Sciences was researching and developing all types of aircraft engines and large gas turbine directional, single and high-temperature alloys and complex cavity casting technology under his guidance. According to our resources, he also developed several types of alloy steel to save nickel and chromium, solving the time required for Chinese industry.

Changxu Shi set up Metal Corrosion and Protection Institute of Chinese Academy of Sciences, led the establishment of website of National Natural Environmental Corrosion Station, providing a large number of basic data for our materials research and engineering applications. He strongly advocated it is both of importance of research between traditional materials and new materials, basic research and applied research, promoting the sustainable development of our material research. He promoted the development of our fatigue and fracture material and discipline development such as amorphous and nanocrystalline. He proposed that China should vigorously develop magnesium alloy, advocate and participate in Chinese high-strength carbon fiber research and development applications.

Changxu Shi made outstanding contributions to the formulation of national science and technology policy and the setting and development of science and technology institutions. He initiated, participated in and presided the establishment of the Chinese Academy of Engineering; presided the development plan of national materials field for many times. He attached great importance to the society and published work, creating Chinese Materials Research Society and Chinese Biological Material Committee. He was the founder and editor of the five high-level publications: Materials Science and Technology (English version), Progress in Natural Science (Chinese &English version), Metal Learned Journal (Chinese &English version).

Changxu Shi enjoy a high reputation in the international field of materials science, repeatedly served as conference chairman or consultant in international material field. He won 7 prizes of National Science and Technology Award, and gained Practical Material Innovation Award issued by International Union of Materials Research in 1998. Due to his achievements in materials field, the U.S. Minerals, Metals and Materials Society (TMS) awarded him the title of Honorary Member.

Changxu Shi trained more than 80 masters and doctoral students. Many of them has already become the academic leaders in materials field.

Tungsten Alloy Manufacturer & Supplier: Chinatungsten Online - http://www.tungsten-alloy.com
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North American Tungsten Corporation Ltd.announces a net loss of $4.0 million or $0.02 per share for its first quarter ended December 31, 2012 ("Q1 2013") compared to net earnings of $6.6 million or $0.03 per share for the first quarter end of fiscal 2012 ("Q1 2012").

Highlights for Q1 2013:

    Record production of 80,693 mtus at the CanTung Mine since restart of operations in 2010
    Revenue dropped to $11.5 million vs. $26.4 million for Q1 2012 due to lower volume and prices
    Cash flow from operating activities of $0.1 million vs. $6.5 million for Q1 2012
    Net loss of $4.0 million vs. net income of $6.6 million for Q1 2012
    In Q2, tungsten prices are again trending upwards and customer demand is again strong

FINANCIAL REVIEW

The Company's Q1 2013 financial results were negatively affected by the significant drop in APT prices during the latter half of 2012, dropping from a high of USD$450/mtu in December 2011 to a low of USD$295/mtu in December 2012 (An mtu is a metric tonne unit of 1 percent of a metric tonne (22.046 pounds) of contained WO3; tungsten concentrate prices are based on APT quotations).

This significant price drop, most of which occurred in the last calendar quarter of 2012 with major impact in Q1 2013, was driven by worldwide economic uncertainty and a reduction in overall demand.

In addition there was a delay in the renewal of a Supply Agreement with one of our major customers. This is now complete and deliveries re-started as of January 1, 2013. During Q1 2013 the Company also successfully negotiated an additional Supply Agreement with a major North American customer.

OPERATIONAL HIGHLIGHTS

The Company is very pleased with Q1's record production of 80,693 mtus by our "Tungsten Team" at the CanTung Mine. The mill processed 90,625 tonnes of ore during the quarter, with an average feed grade of 1.12% WO3 and average mill recovery of 79.5% compared to Q1 2012 in which 76,628 mtus were produced from 88,460 tonnes of ore milled with an average feed grade of 1.12% and an average mill recovery of 77.4%.

"The increase in both throughput and mill recovery at CanTung were contributing factors in weathering the recent APT pricing downturn," said Stephen Leahy, CEO of NTC. He went on to say, "the APT market prices have risen steadily since the beginning of January and are now in the USD$345 to USD$355 range per mtu which is a very good sign for producing companies such as ourselves," Mr. Leahy further stated, "I wish to thank our "Tungsten Team" for all of their hard work and dedication in achieving this record quarterly production. We look forward to working closely with all our stakeholders, shareholders, vendors, customers and partners to building a better Company for all."

Tungsten Manufacturer & Supplier: Chinatungsten Online - http://www.chinatungsten.com
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Yesterday US Tungsten Corp. dropped over 36%, down to a close of $0.37 per share, obliterating what gains investors made over the last month. Promoters have gone silent, with only a few morning emails sent before the stock tanked.

The pumpers at Penny Pick Finders came forward to announce Monday's drop as a "pullback" and a "lucrative" opportunity for new investors. It turned out this was not the case, as the stock kept sliding, but it doesn't really matter what you tell your subscribers so long as you're getting paid $35 thousand to tout a certain stock it seems.

Every investor who bought USTU shares throughout February is now sitting on a loss ranging roughly from 10% to a whopping 50%. The promotional pumps that targeted the company this month, starting February 9, seem to have had their run. The news release around the market open yesterday concerning the appointment of a new CEO did very little to promote investor confidence.

Despite the horrid performance of the stock over the last two days, promoters Awesome Stocks extended their feelers to USTU as well. In a new pump running on a compensation of $50 thousand that arrived towards the end of yesterday's session, Awesome Stocks tout the investment of $80 million Warren Buffet made in a South Korean tungsten mining venture last year, without pausing to think why Buffet chose to take his money to Korea instead of supporting U.S. production of the metal.

3PMCM_fail.pngAwesome Stocks previously pumped other companies that started trading actively only recently and that crashed horribly when the emails stopped coming. One recent example is Primco Management, Inc. a one-day promotion by Awesome Stocks crashed before it had a chance to run, with the promoters pocketing $60 thousand for their efforts.

Traders are advised to be extra careful with penny stocks, especially with companies that are currently being targeted by paid pumps. Even USTU's run and crash in February should be enough of a red flag that no amount of promotions can be any guarantee for the price performance of a stock.

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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