Tungsten & Sapphire Growth Furnace Price

Todd Family Buy into English Tungsten Mine

Details: Category: Tungsten's News; Published on Tuesday, 25 December 2012 17:28; Hits: 2898

Todd Corp, the investment company of New Zealand's wealthiest family, has acquired a 19.9 per cent stake in Wolf Minerals as part of a placement to help fund the ASX-listed company's development of a Tungsten mine in southwest England.

TTI (NZ), a unit of Todd, subscribed for 39.4 million shares in Wolf at 27 cents apiece, a 12 per cent premium to Wolf's 30-day volume-weighted average price, the Perth-based company said in a statement to the ASX. It may acquire more shares in 2013.

In total Wolf raised $A20.3 million ($NZ25.62m) in a placement of 75.4 million shares including to existing major shareholders Resource Capital Fund V, a Denver-based private equity fund, and Traxys Projects, a specialist financier for resource projects.

Wolf, whose shares trade on both the ASX and London's AIM market, is focused on developing the Hemerdon Tungsten and Tin Project in Devon, which it says is one the largest undeveloped tungsten and tin resources in the western world. Wolf holds an option over 100 per cent of the project.

The placement is a key condition of a US$75 million bridge finance facility and $US7 million ($NZ8.49m) royalty from Resource Capital Fund (RCF), which has provided funding to allow the project to start.

The royalty payment is an advance payment on 2 per cent of gross revenue from the project which RCF has acquired.

Wolf needs to raise additional equity in 2013 of about STG45 million pounds ($NZ88.23m) to repay the bridging finance and has been in talks with both RCF and Todd to take up about 25 million pounds of that.

Shares of Wolf last traded at 27.5 Australian cents on the ASX, valuing the company at A$31.4 million, and have climbed 25 per cent in the past month. Because of the size of the capital raising, the plan requires approval of shareholders at a meeting in Perth on Jan. 24.

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

The Tungsten Concentrate Prices Shows Weakness at Present

Details: Category: Tungsten's News; Published on Tuesday, 25 December 2012 17:25; Hits: 4251

Chinese tungsten concentrate market still runs slowly this week, and as most consumers are cautious to rebuild stocks, the tungsten concentrate prices decrease. The offers for tungsten concentrate increased slightly in early this month, which were mainly pushed by the large-sized companies, while the customers were unwilling to accept the high level and the trading was thin in the spot market. Tungsten ore is oversupply and the price is hard to stay steady at present. Some tungsten traders have to undersell their goods under high pressure of fund. Moreover, the demand of end users are depressed, and the downstream enterprisers consume their high level stock in very slow way. Quotation of individual products falls into chaos, thereby increasing traders hold wait-and-see attitude and real transaction volume is low. Chinatungsten Online expects individual tungsten products price will reduce consistently, but not in a large range.

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

Tungsten Diamond Rings Has Been Carried out Recently

Details: Category: Tungsten's News; Published on Monday, 24 December 2012 17:59; Hits: 3144

Collected by Chinatungsten Online-Larson Jewelers is now carrying the latest designer Thorsten styles with diamond settings. With plenty of time left in the holiday shopping season, their timing could not have been better. This addition to their tungsten wedding bands line solidifies their reputation for having the most styles of alternative metal wedding bands and the best quality in the industry.

Hazelwood Resources is closer to commissioning Vietnam ferrotungsten plant

Details: Category: Tungsten's News; Published on Monday, 24 December 2012 18:02; Hits: 2962

Collected by Chinatungsten Online-Hazelwood Resources (ASX: HAZ) expects to start in February 2013 hot commissioning of its ATC Ferrotungsten Project in Vietnam.
First saleable product is expected in the March quarter of 2013.

The company has passed the necessary operating resolutions and is now using funds raised from the recent Entitlement Issue and Shortfall Offer, which is still in progress, to procure first fill inventory items.

These include tungsten concentrate for feedstock, ferrotungsten metal liner, ferrosilicon, coke, scrap iron and electrode paste.

Recruitment of production workers from the local catchment area has also commenced.

Ferrotungsten prices, which are a typical seasonal low, are still trading at levels around the long term average premium relative to tungsten concentrate.

This is projected to provide positive operating margins, even during the hot commissioning and ramp-up phase.

Ferrotungsten from ATC will be sold under an Agency Agreement with Wogen Resources, who are also providing sales finance on each consignment.

The ATC Ferrotungsten Project is the largest capacity plant outside of China and its design is believed to be the most advanced in the world. Ferrotungsten is used in the production of high speed steels, tool steels and temperature resistant alloys.

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

Blackheath Reports 7.98 Metres of 2.11% WO3 at Covas Tungsten Project

Details: Category: Tungsten's News; Published on Monday, 24 December 2012 17:57; Hits: 3020

Collected by Chinatungsten Online-Blackheath Resources Inc. (TSX VENTURE:BHR) is pleased to report results from the first two drill holes on the Covas Tungsten Project in northern Portugal. The Phase 1 drilling program is designed to confirm and test known skarn-related mineral zones and extensions as well as new targets at Covas. Five diamond drill holes have been completed so far on the Telheira zone.