Tungsten Mining (ASX: TGN) hit the ASX boards at 2pm EST yesterday and traded as high as $0.21, before closing at $0.205 - a 2.5% premium to the IPO price.

The Tungsten Mining prospectus offered 25 million shares at $0.20 to raise $5 million, with oversubscriptions allowed for another $3 million.

The mainstream scrap tungsten price maintains steady. The transaction price excluding tax of domestic blade is ￥171.00-￥174.00/kg; imported blade is ￥182-186/kg; scrap tungsten bit still concentrates on ￥187.00-￥191.00/kg scrap pure tungsten block is ￥208.00-￥213.00/kg.

The price of the content of scrap tungsten grinding material which is more than 70W is ￥1330.00/mtu, 50W-70W is ￥1270.00/mtu, 30W-40W is ￥1110.00/mtu. The prices above are steady. 10W-20W tungsten unit to ￥635.00/mtu while 8W-10W tungsten to ￥571.00/mtu.

With falling price of tungsten concentrate, tungsten miners are bit more willing to ship, however, low demand still leads to low transaction volume although the resource of scrap tungsten is short.  Scrap tungsten suppliers, which are affected by the downward of tungsten concentrate price, their attitude become more cautious and more willing to wait and see. Chinatungsten Online predicts scrap tungsten prices will keep steady generally but falling feebly.

In the international market, tungsten concentrate prices show its trend to move up constantly. By the night of 14th, the guiding price of MB ferrotungsten in warehouse Rotterdam maintains $43.00-44.00 per kilogram tungsten, the highest level has increased $0.50; the quotation of ammonium paratungstate keeps $304.00-330.00/mtu.

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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With the coming of New Year, domestic tungsten concentrate shows its downward trend. Today, 65% tungsten concentrate based on Ganzhou mainstream quotation focus on ￥115,000.00-116,000.00/t, and the real transaction price may be lower to ￥113,000.00/t. According to tungsten suppliers, flow supply of goods in spot market is relatively sufficient which could restrict the spot price to some extent. However, facing dual-pressure of low demand and fund shortage, many tungsten suppliers have to quote in order to get cash.

A tungsten trader from Hunan said, “the supply of goods is adequate, especially in tungsten ore. We estimate the net profit of tungsten concentrate is ￥20,000.00-30,000.00, so decreasing tungsten concentrate prices is possible. But with the consideration of market risk, tungsten traders are not dare to stock up too much goods, thereby the transaction volume is still low”.

Chinatungsten analyzes, tungsten market goes down, and the small and medium-size enterprises, which under high pressure, have to ship with low prices to ease fund pressure. Chinatungsten Online expects the price will reduce to ￥115,000.00, even to ￥110,000.00, but the possibility to lower than ￥110,000.00 is small.

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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The situation of tungsten market can be concluded as follow:

Few deals could be seen in tungsten concentrate market, prices show downward trend; demand of ammonium paratungstate and ferrotungsten fatigued and weak, some manufacturers even choose to shut down the machine; scrap tungsten steel keeps stable after slightly decreasing. Tungsten suppliers and traders hold various attitudes toward market, some are panic while some choose to wait and see. Generally speaking, most people hold low-expectation toward tungsten prices at the end of 2013. Chinatungsten Online forecasts that individual tungsten products are going to shock down slightly in short term.

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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Tungsten News & Tungsten Prices, WML Version: http://m.chinatungsten.com

Collected by Chinatungsten Online-As part of a larger effort to consolidate and enhance the industry, China’s jet engine makers, led by Aviation Industry Corp. of China (AVIC), are expected to invest 100 billion yuan (US$16 billion) in jet engine development in the near term, and perhaps up to 150 billion yuan (nearly US$24 billion) by 2015. According to Reuters, “Some Chinese aviation industry specialists forecast that Beijing will eventually spend up to 300 billion yuan (US$49 billion) on jet engine development over the next two decades.”

The mainstream scrap tungsten price maintains steady. The transaction price excluding tax of domestic blade is ￥171.00-￥174.00/kg; imported blade is ￥182-186/kg; scrap tungsten bit still concentrates on ￥187.00-￥191.00/kg scrap pure tungsten block is ￥208.00-￥213.00/kg.

The price of the content of scrap tungsten grinding material which is more than 70W is ￥1330.00/mtu, 50W-70W is ￥1270.00/mtu, 30W-40W is ￥1110.00/mtu. The prices above are steady. 10W-20W tungsten unit to ￥635.00/mtu while 8W-10W tungsten to ￥571.00/mtu.

Under restriction of both low demand and fund pressure, the market situation keeps low. At the end of year, scrap tungsten resource is short as well as demand, so traders are inactive to deal. Chinatungsten Online predict that scrap tungsten prices will keep steady generally but falling feebly.

In the international market, tungsten concentrate prices show its trend to move up constantly. By the night of 19th, the guiding price of MB ferrotungsten in warehouse Rotterdam maintains $43.00-44.00 per kilogram tungsten; the quotation of ammonium paratungstate keeps $304.00-330.00/mtu.

Tungsten Manufacturer & Supplier: Chinatungsten Online - http://www.chinatungsten.com
Tel.: 86 592 5129696; Fax: 86 592 5129797
Email: sales@chinatungsten.com
Tungsten News & Tungsten Prices, 3G Version: http://3g.chinatungsten.com
Tungsten News & Tungsten Prices, WML Version: http://m.chinatungsten.com

Florida professional angler Brandon McMillan has reached agreement to endorse Elite Tungsten in 2013. This is notable as McMillan is a previous Tour and Everstart winner and will be fishing the FLW Tour fulltime in 2013. Known for his prowess with a flipping stick McMillan knows the value of quality tungsten and how it aids in detecting bites even in the heaviest of cover.

Late in November, the Toronto-based company announced that it resumed exploration on the property, which covers more than 125 square kilometres and has NI 43-101 compliant tungsten, tin and molybdenum resources. 

The base metals explorer has generated buzz since the news, with its stock up more than 10 per cent in the last month.

The phase 1 ground exploration program at the property will target the Tin Hill, Burnt Hill Brook Area, the Burnt Hill Mine Area, and the 2 1/2 Mile Brook Area, with two prospecting crews currently in the field. 

The company has said that the sampling program in each area has successfully located outcrop mineralization with quartz veining at each site. The mineralization found has been sampled, with more than 2,800 samples submitted to a lab for testing, with results to be released when available.

Cadillac has just raised $1.2 million under a recent financing to fund exploration, and plans to raise more funds next year. 

Burnt Hill currently holds 461,000 tonnes of total NI 43-101 compliant underground and open pit resources in the indicated category, grading 0.489% tungsten and 0.01% tin. The inferred category holds a total of 590,000 tonnes, grading 0.535% tungsten and 0.013% tin.

Cadillac also stands to benefit from its nickel and copper Thierry project in northwestern Ontario, which consists of the past producing Thierry Mine and hosts two NI 43-101 compliant resources at the Thierry Mine and the K1-1 deposit. 

In September, the company released results from its summer drilling program on the K1-1 open pit deposit, located about three kilometres from the Thierry Mine. It said the campaign was a success as each hole found mineralization outside of the current NI 43-101 compliant Whittle Pit model. The results included notable intersections such as 225 feet at 0.48% copper and 0.11% nickel, as well as 160.2 feet at 0.51% copper and 0.1% nickel.

Based on a preliminary economic assessment, the Thierry project was estimated to produce a total of 5.25 million tonnes per year, comprised of 3.85 million tonnes from open pit, and 1.4 million tonnes from the underground operation.

The report showed a pre-tax net present value of $380 million using a six per cent discount rate and an internal rate of return, on a pre-tax basis, of 19 per cent, with a life-of-mine NSR revenue total of $3.7 billion.

Total estimated capital costs were seen at $843 million, or $11.93 per tonne, with a payback period of four years from the start of commercial production on pre-production capital.

In the meantime, the junior base metals explorer is planning to continue drilling on the K1-1 deposit, with the aim of creating “substantially more tonnage” on the open pit deposit. The company is working to update the resource at K1-1, and is targeting "further positive results" outside the current pit, with mineralization extending at depth.

Brewster says that an additional 5,000 to 7,000 metres needs to be drilled before the K1-1 resource is updated, with around 3,000 metres having been drilled so far. Baseline monitoring and environmental work is also continuing at Thierry, but a partnership is necessary to take the project to the next level. 

Discussions for a potential partnership agreement at Thierry are ongoing. The Thierry Mine, which remains open at depth and to the west, has 8.8 million tonnes in estimated measured and indicated resources and 14.9 million tonnes of inferred, using a cut-off NSR of C$41/tonne. The open pit K1-1 deposit holds 53.61 million tonnes in the inferred category, at an NSR cut-off of C$11/tonne.

With Thanksgiving kicking off the holiday shopping season, TungstenWorld.com, the internet’s leader in tungsten wedding rings and tungsten carbide jewelry, is treating shoppers with Black Friday jewelry deals and Cyber Monday wedding specials on its amazing collection of tungsten rings and cobalt chrome bands. In addition to their holiday jewelry specials, Tungsten World has also added nearly 100 new accessories including watches, money clips, bracelets, pendants and cufflinks.

As holiday shoppers are getting excited in anticipation of Black Friday and Cyber Monday deals, Tungsten World has announced a Black Friday Blowout featuring the best wedding rings and jewelry specials available. Shoppers looking for great stocking stuffers and gifts for Christmas will be treated to tungsten and stainless steel pendants for the low price of $29, down from $69. And to really get shoppers excited, TungstenWorld has announced their best deal of the year. Starting on Black Friday, all orders of $100 or more are eligible for 25% off the entire order with promo code from tungstenworld.com. Shoppers can save on any of Tungsten World’s jewelry and tungsten rings including tungsten diamond rings, inlay rings and even watches and bracelets.

“Every year holiday shoppers are looking for only the best of the best when it comes to Black Friday deals and Cyber Monday specials, so we knew we had to go big on this one,” says Brett T, Tungsten World Operations Manager. “The deals we are running for these pendants mean you can check a few people off your list for less than $100, and 25% off everything including our most popular styles like diamond rings puts our sale up there with the best.”

In addition to the great Black Friday steals and Cyber Monday jewelry deals, Tungsten World is also adding nearly 100 new accessories this holiday season for customers to shop and save on. While it may not be the traditional season for weddings and wedding bands, customers can still treat the loved ones in their lives to a variety of stocking stuffers and great accessories including new styles of stainless steel and tungsten watches, money clips, bracelets, pendants, earrings and cufflinks. Keeping with Tungsten World’s tradition of durable and long lasting jewelry, all the the new styles feature the toughest in 316L stainless steel and high quality tungsten carbide. Many accessories also feature diamond stone or cubic zirconia inlay, solid gold accents or black and gold IP plating. To see all of Tungsten World’s newest products visit their Mens Jewelry & Accessories category with links to money clips, bracelets, earrings, pendants and stainless steel cufflinks for men.

“Adding the new accessories has been in the works for quite sometime and we’re pleased to have them up just before the holiday season,” says Brett. “During the holiday season, you may not be in the market for a wedding band but it’s the perfect time to get watches, pendants, bracelets, money clips and other accessories for your loved ones. Our new line is the perfect balance of fashion savvy combined with durable, long-lasting metals.”

As the perfect gift for the man or woman in your life, Tungsten World also offers free Priority shipping to anywhere in the US. Customers shopping the new line of accessories or any of TungstenWorld’s line of long-lasting gifts and products will be sure to have their gifts in time for Christmas at no extra charge.

About Tungsten World’s Tungsten Forever™ Wedding Bands:
Exclusive to TungstenWorld.com, Tungsten Forever™ tungsten rings and tungsten wedding bands, for men or women, are made from the highest quality tungsten carbide. Hand-finished and coming in a wide array of widths, styles and sizes, Tungsten Forever™ tungsten rings set the standard for durable men’s wedding bands guaranteed to last a lifetime. Coupled with Tungsten World’s industry-best Lifetime Replacement warranty and friendly customer service, customers purchasing Tungsten Forever™ tungsten rings and tungsten jewelry can be confident in knowing they’ve received the very best the internet has to offer.

Chenzhou Mining, China’s second-biggest antimony producer, will invest in a local tungsten miner, the company said on Tuesday December 18.

Chenzhou plans to put a total of 100 million yuan ($15.9 million) into Hunan Xinkuang Mining Group, in the form of loans and investment in a 10% stake in the company, Shenzhen-listed Chenzhou said in a statement. 
The investment aims to further enhance Chenzhou’s resources for long-term development, the company said. 
Xinkuang currently has resource reserves of 8,045 tonnes of tungsten metal, according to Chenzhou.