The company’s share price has increased 2.68 percent since the announcement, and is up 112.96 percent year-to-date.

Analysis of latest tungsten market from Chinatungsten Online: The bearish atmosphere in whole raw material market and wait-and-see mentality of businesses at the end of the month lowers buying activity. Downstream market tries to force price down while traders have strong willingness in selling. And due to the game between fundamentals and funds, some enterprises stop quoting, waiting for new guide prices from institutions and large tungsten enterprises.

W Resources is now on track to start trial mining at Regula, the project chairman Michael Masterman calls the "quiet achiever."

Rare earth market quotation in China: domestic rare earth price still maintains stability as the market is caught in heavy-wait-and-see atmosphere at the end of the month. This week, the listing prices for rare earth oxide are unchanged, news side is quiet and buyers and sellers are in a stalemate. Besides, upstream manufacturers reduce product prices for more shipments while downstream enterprises still remain cautious purchase. Taken together, short-term rare earth price mainly stabilizes.