mitsubishi bolster tungsten carbide tool busi, page-4

I think there's a certain amount of hot air surrounding this announcement.

They are planning to boost output at the Tsukuba factory by 20% next quarter.

Clearly they have a source of tungsten to meet this extra production which is NOT from CNQ.

I'm not sure how you can "expand the business faster than the market grows"; sounds like an impossible dream, unless you somehow take out other market suppliers. It's one thing to talk about acquisitions to achieve this, quite another to find suitable targets. Then there's Mitsu's exceptionally long due diligence process which one would assume they would also apply to potential acquisitions as well as potential suppliers like CNQ.

The three year time frame for all of this seems highly ambitious and unlikely.

Nevertheless, none of this is all that relevant to CNQ shareholders who continue to suffer while no sod is turned at the mine.