Ann: Mt Carbine Acquisition Update, page-17

We are definitely on the radar!

https://roskill.com/news/tungsten-project-development-continues-apace-despite-price-slowdown/

In Australia, Speciality Metals International (SMI) completed the acquisition of Mt Carbine Quarries and several mining leases held by the company. The Mt Carbine site was a past-producing tungsten operation and the site comprises, in addition to the current quarry operations, tailings dams (2Mt grading 0.1% WO3) and a low-grade stockpile (12Mt), plus around 6Mt of mineralised ore sorting rejects. SMI has also entered into a joint venture with Cronimet Asia and the two partners aim to commence tungsten production initially via a tailings retreatment project, starting in late 2019.

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Tungsten market conditions have been more challenging in 2019, following a robust period of growth in 2017 and 2018, as a result of falling Chinese automotive production – impacting demand for key tungsten-containing tools – plus uncertainty around the US-China trade dispute and concern over Chinese tungsten stockpiles from the failed Fanya exchange. Longer term prospects for the sector are strong, however, with key end-use markets all poised to increase consumption. With tungsten supply from existing tungsten mines set to fall back over the next decade, Roskill forecasts that at least 10 new large-scale tungsten mines will be required over this period in order to meet demand.