As we know tungsten is a strategic metal, Mitsubishi want their 50% of CNQ.AX to meet Japanese supply needs. I note the Japanese leader address to congress where he talks of expanding their military capacity to meet world peace. Read we will,now be more than purely defensive. They need tungsten.
The Chinese will not sell the raw material. They know that by not exporting material in contravention to WTO they can secure ongoing production of cars, phones and shipbuilding.
While like others I'm frustrated that my small parcel of shares has not allowed me to buy a Gold Coast unit I pleased the board has keep open the option to supply others than Mitsubishi.
I read of the USA road trip and I expect the U.S. Military has a need for tungsten. If geo politics goes pear shape I expect the Americans will like a supply source outside of China.
Overall slow but this is not iron ore or fickle rare earths, tungsten allow generals with weapon systems to play games. More power to them may my little tungsten mine help fill their ego needs.
We hold a chunk of the 44 missing pieces.
CNQ Price at posting:
13.5¢ Sentiment: Hold Disclosure: Held
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