Versarien Plc. , the advanced engineering materials group, announced its intention to raise funds and seek admission of its shares to trading on the AIM Market of the London Stock Exchange. Dealings are expected to commence on AIM in late March 2013. Northland Capital Partners Limited is acting as Nominated Adviser and sole Broker to the Group.

The Group's trading subsidiary, Versarien Technologies Limited was founded in 2010 to commercialise a process for the production of cutting edge porous metallic materials, developed at the University of Liverpool.

The company said that in conjunction with its Admission to AIM, it will acquire Total Carbide Limited, a long established advanced materials company manufacturing tungsten carbide, a wholly owned subsidiary of Elektron Technologies plc (EKT). The total consideration being paid by Versarien to Elektron for the entire issued share capital of Total Carbide is 2.3 million pounds. Completion of the acquisition is conditional on the Group's successful Admission.

For the six months ended 30 September 2012, Versarien reported turnover of £nil and a net loss of 168 thousand pounds. For the year to 31 January 2013 Total Carbide generated revenues of 3.8 million pounds and a profit after tax of 56 thousand pounds.

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Shares in Wolf Minerals(WLFE) rose over 11% on Wednesday after it awarded a £75 million contract to Australia-based GR Engineering Services for the Hemerdon tungsten and tin project in the UK.

The fixed-price, fixed-term engineer procure construct (EPC) contract is for the design, construction and commissioning of a three million tonne-per-annum tungsten and tin mineral-processing plant, plus associated infrastructure, which will form "the key component" of the Hemerdon project.

The contract price is less than the £77 million estimated in a May 2011 definitive feasibility study. The contract forms the bulk of the development costs, estimated to be about £104 million, with land purchases, owners' costs and contingencies making up the balance.

Work on the two-year construction will commence upon satisfaction of the conditions precedent to financing.

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The Australian firm behind £130 million plans to re-start mining operations on the outskirts of Plymouth made a loss of $2.5 million in last six months of 2012.

It comes after an announcement yesterday that Wolf Minerals had awarded a £75 million design and build contract for the scheme's processing plant to fellow Australian firm GR Engineering.

The mine, at Hemerdon, is anticipated to come into production by the end of 2014 and will produce 5,000 tonnes of tungsten concentrate and 500 tonnes of tin annually over the following decade.

Last month, a New Zealand-based business TTI (NZ) Ltd bought a 19.9% interest in the company as part of a $20.3 million share placement exercise to raise funds to provide working capital to progress the scheme – specifically by buying homes near the site of the mine.

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Blackheath Resources Inc. (BHR.V) and Avrupa Minerals (AVU.V) today reported further drilling results from the Covas Tungsten Project in northern Portugal.

Highlights:

1.56% WO3 over 11.40 metres at Lapa Grande including

2.89% WO3 over 5.10 metres in Hole CO 13-12

0.79% WO3 over 1.55 metres at Telheira in Hole CO 10-12

2.11% WO3 over 7.98 metres at Telheira including

4.24% WO3 over 2.55 metres in previously reported Hole CO 7-12

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Xiamen Tungsten Co., Ltd. is principally engaged in the smelting, processing and distribution of tungsten, molybdenum and other non-ferrous metal products, as well as the property development business. The Company operates its businesses through production of non-ferrous metal products, property development and management, as well as development and distribution of new energy materials. The Company operates its businesses in domestic and overseasmarkets.

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Ferro-tungsten prices in Europe drifted down further on Wednesday March 6, as demand weakness pervaded the market.

Metal Bulletin’s in-warehouse Rotterdam quotation now stands at $39.50-39.90 per kg, down 10 cents on the top end, and market participants have suggested the price will slip still lower before the end of the first quarter. “I’ve spoken to a couple of traders and they mentioned $39-39.50 per kg.

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North American Tungsten Corporation Ltd. (TSXV:NTC) is ready to commence metallurgical testing and analysis of material from Tailing Pond 3. Since the 2011 and 2012 drilling and modeling program has been completed, the next phase of the tailings reprocessing plan is ready to begin.

As quoted in the press release:

The next phase in the tailings reprocessing plan will include baseline flotation test work plus locked cycle flotation tests to determine the feasibility of recovering a marketable concentrate. Magnetic separation, presently used in the production plant flowsheet, will also be evaluated. The program is expected to conclude with off-site testing of a bulk sample, providing necessary scale up information for commercial processing.

North American Tungsten Corporation Ltd. CEO, Stephen Leahy said:

A positive feasibility for the tailings reprocessing project will certainly make it a priority for the Cantung Mine as it has the potential to add significantly to not only our production but to our overall mine life resource.

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North American Tungsten Corporation Ltd. (TSX VENTURE:NTC) ("NTC" or "the Company") is pleased to provide an update on its continuing underground diamond drill exploration program in the Amber Zone on its 100% owned Cantung tungsten mine in the Northwest Territories. Drifting toward this zone has commenced.

Stephen Leahy, CEO, stated: "We believe that this new Amber Zone will become an important integral component of our underground Life of Mine Plan at Cantung. We are very proud of the hard work and dedication of our Tungsten Team in the discovery and the definition drilling in the new Amber Zone."
Diamond Drilling was implemented to fill 450 ft. gap between high grade intercepts in drill holes U1943, U1936, and U1937, discussed in the NTC February 6th, 2012 news release, and holes U1978 to U1985, discussed in the NTC June 6th, 2012 news release. A total of 87 Diamond Drill Holes amounting to 25,000 ft. of drilling were completed. Many of the holes intersected one to three zones of mineralization. This recent phase of drilling verifies the continuity of the mineralization within the Amber Zone and the Central Flats over an area with an approximate strike length of 600 ft. and an approximate down dip length of 650 ft. In addition it opens up 800 ft. of strike length of potential mineralization to the east. Drilling is now commencing in the area of "Amber Zone East" to test the continuity of two areas. Drifting toward the Amber Zone West has commenced from 4 headings within the current mine workings.

Significant results from the drill program include 15 ft. averaging 4.27% WO3 (DDH - U2082), 22.7 ft. averaging 4.30% WO3 (DDH - US2083), 10.3 ft. averaging 3.60% WO3 (DDH - U2114) and 15.4 ft. averaging 2.44% WO3 (DDH - U2081). The table shown below provides the tungsten containing intervals and the estimated true widths for those intersections.

All drilling was completed from underground drill stations. All drill core was BQ and core recovery in the assay intervals was close to 100%. Sampling was based on lithology with a maximum individual sampled interval of 5 feet. The averaged assays shown in the table have a minimum bounding grade of 0.25% WO3.

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The £75 million engineering, procurement and construction contract will see GR Engineering develop and ultimately commission the 3 million-tonne-per-annum tungsten and tin processing plant in Devon

Shares in Wolf Minerals (LON:WLFE) jumped 11% in morning trade after it named GR Engineering as the firm which will develop the Hemerdon tungsten project in southwest England.

The £75 million engineering, procurement and construction contract will see GR Engineering develop and ultimately commission the 3 million-tonne-per-annum tungsten and tin processing plant in Devon.

The deal compares favourably with the estimate in the definitive feasibility study (DFS) estimate announced in May 2011, which allowed £77 million for the contract.

The term of the contract is two years, the firm said.

Wolf managing director Humphrey Hale said the company was very pleased to continue working with GR Engineering as it had established a good working relationship over the past three years.

"This is a major achievement for the project team as the EPC contract was tendered to the market and this result is in line with the Definitive Feasibility Study estimate announced in May 2011."Shares were lifted 11.11% to stand at 22.50p.

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According to the Machine Association statistics, the industrial output value of China's machine tool industry is 717.653 billion from January to November 2012, a year-on-year growth of 12.59%; The sales output value is 696.117 billion, a year-on-year growth of 12.34% and the sales rate is 96.99%.From 1 to 11 months, a significant downward trend in the overall machine tool industry sales value this year. Among them, the manufacture of cutting tools, metal cutting machine tool manufacturing industry growth rate fell magnitude larger proportion, a year-on-year growth rate fell 32.5% and 17.59% respectively. Machine tool industry export delivery value of 41.895 billion yuan, a year-on-year growth of 17.14 percent, down 1.86 percentage points compared with the same period last year.

View from the sub-sectors, including the manufacture of metal-cutting machine tools, metal forming machine tool manufacturing industry growth to varying degrees of growth; growth rate of the other sub-sectors have declined, other metal processing machinery manufacturing industry decline by dropped to 18.45% from 44.86%, down 26.41 percent; followed by wood processing machinery manufacturing industry, a larger decline, down 25.89 percent. November 7 products in the machine tool industry, the overall downward trend, CNC metal cutting machine tools the largest decline, down 43.59 percent.

The machine tool industry is one of the important areas of application of the tungsten industry, carbide cutting tools plays an important share in the metal-cutting machine tools, machine tool industry bring good is expected to pick up, the demand for carbide, which is 2013 tungsten City is expected to pick up a flag.

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