Tungsten Market View about Vital Metals Updates

Details: Category: Tungsten's News; Published on Friday, 01 February 2013 15:53; Hits: 2419

Vital Metals – Quarterly report updates on Tungsten and gold projects

Vital Metals have updated the market on progress at the Watershed Tungsten and Doulina gold projects.

Test work on tungsten ore from Watershed appears to confirm the stability of the production process.

Tungsten scheelite ores are relatively simple to process but the process still needs to be confirmed for the production of a DFS and the application for bank or other finance.

Other elements in place such as the Indigenous Land Use Agreement are in place and exploration looks encouraging.

Doulina: drilling is on going at Doulina.with results expected at end March while column leach test work appears to show 90% gold extraction within a 30 day leach test.

Drill intersections and gold grades show good potential and while the resource is small further resource expansion should be seen from more drilling.

The company reports net cash of A$2.4m at the end of 2012.

Conclusion: Vital Metals is making steady progress towards the potential development of the Watershed Tungsten mine. Drilling at Doulina could turn up encouraging gold results and gives upside potential in Burkina Faso. While progress must appear slow to investors the company has preserved its cash position through tough market conditions and appears well positioned for recovery.

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