The following is from the announcements dated April 16 & 30 May...

The following is from the announcements dated April 16 & 30 May 8.

We are now a producer.

Off take Agreement.
Signing of contract with Mitsubishi should take place after the first 20 Tonne shipment has been made Late May. Note Mitsubishi will take all productions from the tailings.

Tailings samples Quality exceeded expectations.

Gross Revenue from tailings.
Estimated at $10Mil P.A & at a A$:US$ exchange rate of $1.08 indicate that the project has a very attractive Net Present Value.

Reopening the opening the open pit. Hard Rock
1. 30,000 Metric tones P.A.
2. Commence production in 2014.
3. Hard rock production plant to be completed end 2013.
4. Hard rock plant will initially be used to process the 12 Mil of existing premix until the open pit comes into operation in 2014
5. Revenue from the stockpiles Stage 2 App $50 Mil P.A.
6. Revenue from the hard rock Stage 3 App $100 Mil P.A.
7. Hard Rock assumes 3 Mil tonnes P.A 94% recovery from ore Sorting, 80% recovery from concentrate, product grade of 65% WO3.
8. Stage 3 greater than 15 year project
9. Feasibility study and front end engineering and design have commenced and anticipated to take until late 2012 to complete
10. Hard Rock initial funding of $2.0Mil share placement with strategic investment partner or vendor off talk finance within the next few weeks.
11. Key Mitsubishi executives are due to visit site soon.
12. Tailings Slurry samples have been sent to other off takes.

Clearly after rereading theses 3 announcements CNQ management have developer an aggressive proactive plan to develop the Mt Carbine Tungsten site.

Within weeks Carbine Tungsten will no longer be an explorer they are now a producer with positive cashflow imminent and working with Mitsubishi with suggestions they will fund the next stages

Sit back and enjoy the ride.