Yesterday, Colt Resources announced the signing of a binding letter of intent for the option to purchase roughly 247 acres (equivalent to 1.0 km² aka 100 hectares), on which the company plans to construct the necessary surface mining infrastructure for the Tabuaço tungsten project in northern Portugal. The parcel of property, known as Passa Frio, would serve as the site for the processing plant (including jaw crushers, mill and concentrator), warehouses, dams and tailings impoundment facility needed to bring the mine into production. The property is situated away from residential areas and already is zoned to permit the construction of the off-site processing infrastructure. Over the next months, Colt Resources will have the property surveyed to verify legal title. Thereafter, for a payment of €100,000, Colt Resources may enter into three-year option enabling the purchase Passa Frio for €350,000.

The Tabuaço tungsten project is comprised of a scheelite (tungsten) deposit with a NI 43-10-compliant indicated resource estimate of 815,000 MTU WO₃ (1,495,000 tonnes grading 0.55% WO₃) and an inferred resource estimate of 720,000 MTU WO₃ (1,230,000 tonnes grading 0.59% WO₃). A portion of the deposit underlies a port wine vineyard on the western terraced slope of the Távora River valley. In August 2011, Colt Resources acquired 140 hectares of surface rights, which includes the Senhora do Convento vineyard and operational winery that produces port and red table wines. By securing the land over most of the São Pedro das Águias deposit, the company has unencumbered access to a large part of the project area, including the site which is most suitable for the entrance to the planned underground mine.

As demonstrated by this and preceding announcements, management is fast tracking the development of the Tabuaço tungsten project. The Experimental Mining License (EML) for Tabuaço was granted by the DGEG in February, and work on a preliminary economic assessment (PEA) continues. Management anticipates the PEA to be completed during the second quarter. Thereafter, management plans to conduct a pilot mill test on approximately 20 metric tons of scheelite ore. Also, the potential production of fluorite concentrate as by-product will be examined

Management continues to be engaged in discussions with undisclosed potential partners to bring the mine to production at Tabuaço within two or three years. We would expect that the development of Tabuaço would be structured in a manner similar to the Penedono joint venture with the partner providing capital and further developing the project in order to earn a substantial stake in the concession. In this manner, Colt Resources would be able to focus its capital resources on the development of the Boa Fé gold project in southern Portugal. Nonetheless, management plans on bring the Tabuaço scheelite mine to production in 2015.

We reaffirm our Outperform rating and recently raised price target of $2.15, which is based on an estimated share value of attributable resources indicated by Colt’s NI 43-101-compliant mineral resource estimates. We consider our valuation model to be conservative in that it also includes prospective developmental costs at Boa Fé and Tabuaço.

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Armament Systems and Procedures (ASP) expanded its Tungsten light family with the introduction of the new Tungsten USB.

The Tungsten USB can be recharged on the go using a laptop computer or any micro USB cellphone charger.

ASP's Transitional Lights are intermediate size lights with full size performance. They have machined grips and advanced user interfaces.

Powered by ASP's custom-made 18650-Lithium Ion battery, the Tungsten USB's latest XPG2 LED light produces a powerful 275 lumens of ultra-white light with a continuous runtime of approximately three hours. The Tungsten USB's battery has a protection circuit module to prevent overcharging or short–circuiting, and the battery indicator on the light blinks red when charging and turns solid green when fully charged.  

The linear form factor of the Tungsten USB makes it easily carried lens up or lens down. It’s built with precision-machined high strength aluminum with a Type 3 matte black, hard coat anodized finish. It has a 3-position switch (intermittent, locking and constant-on). The center locking position guards against accidental activation.

The Tungsten USB comes with a detachable and reversible pocket clip, a Micro USB to USB retractable cord, a car charger, a wall charger and a zippered travel case. The MSRP is $105.

Tungsten Manufacturer & Supplier: Chinatungsten Online - http://www.chinatungsten.com
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AIM-listed mineral and development companyThor Mining has unveiled its half yearly report for the six months ended December 31st showing an operating loss of 750,000 pounds. 

The group reported a loss for the period of $744,000, compared to a loss of $469,000 in the six months ended December 31st 2011.

An impairment of exploration assets was recorded at 259,000compared to $117,000 in the corresponding period one year earlier. 

A basic loss per share of 0.09p was recorded. 

Thor Mining reported that it was "well positioned for discussions with third parties on potential off-take agreements for the Molyhil Tungsten project." 

     

It said that it had funding throughout the period with a A$1m secured debt facility from a private investor and the group reported a resource upgrade at its Spring Hill gold project. 

In its review of operations, the company stated: The company has continued to make progress on its projects and whilst this has been slow and at times frustrating, the company remains well positioned in its discussions with third parties on potential off-take agreements for the Molyhil Tungsten project and the prospects for Spring Hill and Dundas continuing to improve. 

He reported a resource upgrade at the Spring Hill gold project and elevated levels of nickel and copper being found at Dundas. Importantly, the company has been able to attract additional funds to progress these projects and the directors were delighted to recently announce further funding after the period end."

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The TIBO range of luminaires from the French lighting manufacturer Robert Juliat has received the Etoile du SIEL award at the SIEL show in Paris.

Introducing the Creative Concept Light, the new TIBO range offers a mix and match choice of lightsource (LED, tungsten halogen or discharge), lens type (Fresnel or profile) and dramatic or conventional body colours. These various lighting schemes with new design elements can be used in theatre, architecture, display or for retail purposes.

The new additions to the range include two new profiles with options for HID discharge or variable white LED light sources, and a Fresnel version available with the full range of tungsten halogen, discharge or LED sources.

Prototype of the new ZEP 150W LED Fresnel, the new lighting scheme on the stand is based on the ZEP profile technology. Its 150W LED engine is available in two colour temperatures (3200K and 6000K) and complements the ZEP 640 profile series. It features a large 200mm lens, which maximises light output and its 360° rotating barn doors, low energy consumption and low maintenance requirements make it suitable for television studios, theatres, events and architectural use.

All of these new models will be officially launched at 2013 Prolight & Sound, Frankfurt. Robert Juliat’s followspots have been represented on the stand with the FLO 1800W MSR short throw (13°-24°) model.

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