Cinderford based start-up Versarien, which develops advanced micro-porous metals for thermal management, has acquired Total Carbide Ltd (a manufacturer of sintered tungsten carbide components, located in Princes Risborough).
Furthermore, Versarien also commenced dealings on the Alternative Investment Market (AIM) of the London Stock Exchange. The company has raised a total of GBP 3.0 million (before expenses) through a placing of 24,489,799 ordinary shares at 12.25p per share.

Immediately following admission, Versarien has 83,076,085 ordinary shares in issue. This gives it a market capitalisation of GBP 10.2 million (at the placing price).

Versarien has used the net proceeds of the AIM floatation to acquire Total Carbide Ltd (a manufacturer of sintered tungsten carbide components, located in Princes Risborough) from Elektron Technology plc for a sum of GBP 2.28 million (GBP 1.58 million in cash and the balance in Versarien shares).

The acquisition of Total Carbide will give Versarien access to manufacturing assets in order to expand production of the VersarienCu thermal interface product (a micro-porous copper).

Commenting on Versarien’s admission to AIM, the company’s CEO Neill Ricketts said: "The board is delighted with the successful admission to AIM today. This listing makes both strategic and commercial sense as we take Versarien to the next stage of its development. We look forward to working with our new shareholders and we would like to thank them all for their support and the confidence they have shown in the future of Versarien.”

“With the funds successfully raised, we can now complete the acquisition of Total Carbide enabling the Group to develop its commercial proposition, product portfolio and manufacturing capabilities. We intend both to build on the current profitable business of Total Carbide and to use its automated facilities to manufacture VersarienCu. This in turn enables Versarien to tap into the large and high-growth market for thermal management, and we look forward to developing innovative products to capture this opportunity using our proven leading edge technology."


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According to report of medium, scientists have developed a new kind of revolutionary ultrastrong nanomaterials. It can be utilized for dental braces, implant, cable, solar panel, mobile phone or other devices. Science Magazine has published their research. Those researchers overcome a challenge called as Death Valley that scientists have been frustrated for more than 30 years.

It is without doubt that nanowires are a kind of nanomaterials which thickness is nanometer. Their hardness is higher than current materials by 10 times. Nanowires also have elasticity which makes them adjust different shapes and recover origin shapes at the same time. However, single nanowire is too tiny. It cannot be used for large size materials directly at present. Scientists try their efforts to develop a kind of materials called as loosing materials which have excellent mechanical properties as nanowires. But it is uneasy for them keeping elasticity and hardness of nanowires when they are used for structural use and combine with matrix materials. That is because nanowires have higher hardness and more elasticity than loosing materials.

To solve the problem, researchers have developed a new species of composite materials by using Nb nanowires which have been embedded Ni-Ti shape memory alloy. Shijie Hao in Beijing Petroleum University is the person in charge of program. Professor Yinong Liu of University of Western Australia said, finding a matrix which could be instead of ultrastrong nanowires will be the key. We tried to find all of matrix materials. But it failed. Then we used Ni-Ti shape memory alloy and dramatic changes took place. For 30 years, scientists were always dreaming that using nanowires to strengthen a matrix and then develop an ultrastrong material. While there was always something wrong with nanowires and interface of matrix, because matrix could not share load, and fell of at last.

Ni-Ti shape memory alloy undergoes a process named as martensitic transformation, which can rearrange lattice structure. That is different from those metals which have undergone damage of crystal structure under pressure. Yinong Liu said, being embedded matrix, the new nanowires would be used for manufacturing of cable, cores and ultrastrong construction materials of tubes. Their elastic strain was higher than original wires by 60% and that had never been seen before.


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Considering that over 80 percent of tungsten comes from China, and that China is largest  tungsten  consumer, it is not surprising that the metal made the list in 2011.

Add to that mine closures, halts in production and overall lack of new supply from mines in the western world, and the outlook for tungsten supply doesn’t look very good.

Almonty Industries restarted mineral processing at its Los Santos project six days after a fire caused a suspension of the plant’s activities.

An electrical fire on June 23, 2013 destroyed the diesel generator power supply and caused severe damage to the electrical switching infrastructure, the company said it a release.

Almonty is working with its insurance adjuster and plans to restore normal shipments of tungsten concentrate shortly.
 

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Meanwhile, European ferrotungsten prices have also risen sharply following an announcement from Vietnamese producer YoungSun that due to power-related issues.

It is uncertain as to when shipments will return to full capacity. YoungSun has confirmed that it will only be able to meet 50 percent of its deliveries for the remainder of the year.

Prices for ferrotungsten min W 75 percent have risen from $47.50 to $49.50 per kilogram to $48.50 to $50.25 per kilogram.
 

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A shortage of supply, though bad for the market, can definitely be good for prices. Tungsten APT prices are currently sitting at $400 to $410 per metric ton unit.

It is reported that “Chinese tungsten APT prices have kept rising as smelters try to avoid APT production costs rising higher than sales prices.”

Prices for tungsten APT 88.5 percent have climbed from last week’s 212,000 to 215,000 renminbi per tonne to 215,000 to 220,000 renminbi.

Buyers, the smelters explained, are unwilling to pay more than 215,000 renminbi per tonne. So far this year, prices have climbed by 22 percent.
 

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At the Geological Society of South Africa’s 2013 GeoForum conference in Johannesburg last week, Core Consultants MD Lara Smith8 pointed at three metals (or groups of metals) that will be at a high risk of supply scarcity from 2015.

Smith explained that while the European Union and US Department of Defense don’t wholly agree on all the metals they consider critical, tungsten, tantalum9 and rare earths10 are without a doubt at the top of both their lists.

Smith also said that in recent years, tungsten supply has not been able to keep up with rising demand, which has necessitated the sale of tungsten stockpiles by the Chinese, Russian and American governments.

“Based on China’s decision to limit exports to the rest of the world, we estimate that the primary tungsten market is in deficit and, this year, we expect the deficit to be in the order of 15 000 t,” Smith warned at the conference.
 

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It certainly isn’t news to anyone that tungsten is a critical metal. However, it is  important to note that tungsten is slowly making its way up the global critical metals list.

A metal is deemed critical when it is found to be economically important to the functionality of society, but has a high risk of supply disruptions. In 2011,

The British Geological Society  published a list of what it considers the 52 most critical metals in the world.

The list was compiled based on global abundance, location of production, reserves and supply risk associated with the political stability in the jurisdictions where the metal occurs.
 

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China ammonium paratungstate prices(APTprices) continues to be firm.

China ammonium paratungstate market(APT market) keeps quiet, and the APT prices are stable this week.

However, as the tungsten concentrate prices hover at high level, some APT suppliers raise offers. The ammonium paratungstate market(APT market) sees some higher offers.

A source from an APT factory based in South China noted that they mainly dealt with the old orders in the recent days.

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European ammonium paratungstate market(APT market) sales prices increase as buying activity sees small improvement.

European ammonium paratungstate market(APT market) buying activity has picked up over the past 2-3 days as downstream users come back into the market to restock inventories and potentially cover against the rising export prices of tungsten products from China.

Sales were completed either side of USD400mtu towards the back end of last week, although APT sales concluded on Monday were reaching USD405mtu in warehouse Rotterdam according to market participants.

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Further testing on a larger sample is scheduled in South Africa, which will allow Thor to better predict commercial outcomes, it said.

Chairman Mick Billing said: "This is a potentially exciting enhancement for the Spring Hill project. Ore sorting is also commercially used in tungsten processing and a similar scale test on Molyhil material is also in process in South Africa."

"We eagerly await the outcome of that testwork, as it also has potential to reduce both capital and operating costs for Molyhil," he added.
 

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