Member Info for Tungstenman

Wrong board pal

Zeus valued Cornwall at 6p before today’s results. We must be looking at 20p min. This Board should be on takeover alert.

It is in the Board's opinion that Redmoor's value has gone unrecognised, and our intention is to further progress the project and highlight its merits within a global context. With tungsten prices rising significantly this year, and a global push to secure access to critical and strategic minerals, Redmoor is well placed as a world leading asset.

This is completely off the charts - off to make a coffee and digest properly. Some of these grades at an initial glance are mind blowing.

Https://www.youtube.com/watch?v=Zk0zDc_6VnM

China has just banned the export of tungsten—an irreplaceable metal critical to U.S. fighter jets, missile guidance systems, hypersonic weapons, and advanced manufacturing—triggering a full-blown Pentagon crisis. With Beijing controlling over 80% of global supply and more than 90% of refining capacity, America’s defense contractors face production delays, skyrocketing prices, and a scramble for limited alternatives in Canada, Australia, and Portugal. This video exposes how decades of outsourcing left Washington vulnerable, why the ban could slash missile production by 40% within months, and how China’s control over critical minerals like gallium, germanium, and rare earths could unleash a $250 billion global supply chain shock. Watch as we break down the economic, military, and geopolitical stakes in the most dangerous resource war of our time—and why this tungsten move might be only the first strike.

Cornwall is worth 6p alone and Leigh Creek is worth 4p based on the price agreed with Cupra. We await drill results to verify the 6p and Cupra closing. Cobre worth 2p.

Just the wrong price

I am confident funding will be forthcoming by 31/12. The Cornwall Tungsten train is about to leave the station - Tungsten really is the big play globally.

From a risk reward ratio SML looks a good bet from here - higher grades, strong cash inflows of $1.5m and a $9m disposal pending. Drill programme fully funded and any future drilling will be funded from internal resources. I like both and have shares in both but SML has a 6x upside from current price to reach fair value. Zeus value SML resources in Cornwall at 6p alone which is a 16x uplift from the current price. I don't think SML will build a mine like Tungsten West - it will be sold for big money.

Last year’s Q3 Cobre update was on the 15th October. We should hopefully see this years numbers this week based on last year’s release date.

Tungsten firmly in demand and these new Chinese restrictions can only increase demand and price. Tungsten West and SML are going to benefit in a very big way.

Why Juniors May Lead the Next Bull Run

When a new commodity cycle begins, junior miners often behave like a “levered play” on commodity prices, reacting quickly and vigorously. The combination of low share prices, improving fundamentals, potential monetary easing, and renewed interest in resource security (critical metals, gold, etc.) suggests that juniors are poised for a strong run.

For investors seeking high-upside opportunities, the junior mining sector presents a chance to get in ahead of the next big wave. However, it’s crucial to recognize the inherent risks—juniors can be volatile, often require significant capital for exploration, and depend on continued investor interest for funding. Rigorous due diligence, project quality, and management track record remain vital.

That said, the setup has rarely been as compelling. With inventories tight, valuations cheap, and a shift in global capital flows likely, the next few months and years could see junior miners finally catch the wave many have been anticipating.

Demand Drivers: Why Tungsten Keeps Rising in Importance

The tungsten market expanded from USD 6.04 billion in 2024 to USD 6.50 billion in 2025. It is projected to grow at a CAGR of 7.95%, reaching USD 11.16 billion by 2032.

Its demand is rising due to industrial and defense needs. Key drivers include:

Electronics & Semiconductors: Vital for high-performance chips and circuits.

Defense & Aerospace: Used in rocket nozzles and armor-piercing ammunition. It also strengthens steel alloys for aerospace and defense.

Tungsten is used in turbine blades and as a lead substitute in ammunition.

Industrial Tools: Crucial for cutting and drilling in mining, construction, lighting, welding, and manufacturing.

Green technology and electrification: Increasing use of tungsten in electric vehicle batteries, energy storage, and renewable energy technologies

Industry experts are indicating that global tungsten demand is expected to rise in 2025 and the next few years. With geopolitical tensions increasing, the U.S. and allies anticipate further growth as supply diversification becomes essential.

Tungsten, indium, bismuth, tellurium and molybdenum

China imposed export controls on five other metals used in defence, clean energy and other industries — tungsten, indium, bismuth, tellurium and molybdenum — in early February, shortly after US President Donald Trump’s first 10pc tariff on Chinese goods took effect.

Licences are now required to export 20 related products. However, the curbs stopped short of outright bans and were narrowly targeted in the cases of some metals, like molybdenum.

China controls much of the world’s supply of the rare earth metals that are critical for the clean energy transition, including about 80% of the world’s tungsten and bismuth supply. The controls were in order to “safeguard national security interests”, the ministry said. It’s likely these controls were military-minded.

Luke Adriaans, a research analyst at the consultancy Project Blue, told Bloomberg: “The industries most likely to be affected include the defence sector, where tungsten is a crucial material for munitions manufacturing.”

In tech, Google’s China operations are now the target of an investigation into alleged antitrust violations, announced by the Chinese State Administration for Market Regulation on Tuesday.

The reasons were unclear. Google products, including its search engine, are blocked in China, although it works with local partners. In 2011, Google abandoned its Chinese-language search engine in the mainland and transferred it to Hong Kong. By 2014, China had blocked the last remaining way to access Google’s email service, Gmail.

Also targeted was Illumina Inc, a biotech company specialising in genomic sequencing, which recently partnered with Nvidia – itself targeted with apparently retaliatory antitrust investigations last year – on health-related AI tech. On Tuesday it was added to China’s unreliable entities list, meaning it was likely to face fines, and restrictions on sales and investments in China.

WASHINGTON, Oct 10 (Reuters) - U.S. President Donald Trump threatened to hike tariffs on Chinese exports and cancel a meeting with President Xi Jinping, in a broadside against Beijing on Friday that sent markets and relations between the world's largest economies into a spiral.

Trump, due to meet Xi in about three weeks in South Korea, complained on social media about what he characterized as China's plans to hold the global economy hostage after China dramatically expanded its rare earth element export controls on Thursday. China dominates the market for such elements, which are essential to tech manufacturing.

Sitting at a 52 week High but nowhere near fair value which is 1.9p.

Q3 Cobre update overdue and Cornwall drill results expected soon too.

Have a good weekend all

You really have to ask what on Earth were they doing?

Zeus value Cornwall at £140m based on current grades and resources. Current market cap £9m !!!!!! Cobre throwing off £1.5m profit and Leigh Creek could be sold for $9m . The market has got the current price so so wrong.

Let’s see what the results say Prop. Surely can’t be too long now before they are released.

Cornwall worth 6p and current fair value is 1.9p (Zeus). Massive step change underway. 5x uplift to fair value and 16x uplift to reflect Cornwall value.

Lat print - 4m at full ask 0.5p