Ann: $4 Million Contract Enhances Order Intake - Mt Carbine, page-7

I think this announcement is a long overdue response to those who were "dubious" at least about the $8M quarry purchase.
Key words/phrases;

"renewed focus on the quarrying operation" - this is really encouraging for the fact that Mgt are viewing the quarry as a "product" that can hold its own weight and not simply a partial cost recovery exercise

"consistent cash generating business/asset" - further to the above, tonne for tonne, the quarry material is a high margin product and should be taken seriously as it can fund (or assist to fund) further development of the project overall

"positive outlook" - this is clearly a reference to the fact that FNQ is a source of both private and Govt sector demand for hard rock. Qld have been withholding expenditure on infrastructure projects requiring hard rock over the last few years - maybe its time for a catch-up. With the stockpiles on hand, we all know they can meet supply - it will all be about transport logistics.

"modernize the quarry and expand marketing" & "several tenders outstanding" - if this doesnt give you a taste of what is beyond this $4M contract, nothing will. Cannot wait for further announcements on contract wins.

My personal opinion - this announcement is ALL about the quarry which I think is great because, by definition, Mgt themselves are recognising the quarry's valuable contribution and in doing so should, repeat should, ensure that all future quarry contracts awarded to them will be announced under the ASIC continuous disclosure obligations. I dont believe Mgt previously held this view, so I am seeing this as a positive.

Regarding the tungsten side of things, the one phrase I like is " reassessment of the open pit and underground resource" - now, I am taking this to mean a closer look at Iron Duke (perhaps Petersens Lode and maybe even further underground) to re-quantify the official JORC resource.
I think we can all be quite confident that a much closer look at JORC would result in a significant increase which has the potential to put us on the world stage in terms of critical mineral supply and tungsten resources outside of China. A significant JORC increase would be a no-brainer for potential funders when large chunks of capital expenditure are required to seriously develop the mine,

It WILL happen - just a matter of time.