http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Sat, 21 Oct 2017 19:49:10 +1100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - New Age is leveraged to a rampaging tungsten price ]]> http://www.proactiveinvestors.com.au/companies/news/184025/new-age-is-leveraged-to-a-rampaging-tungsten-price-184025.html New Age Exploration Ltd's (ASX:NAE) recent drilling at the Redmoor Tin-Tungsten Project exceeded expectations in terms of thicknesses and grades of the mineralisation.

Redmoor is located in Cornwall, U.K, and is a 50:50 joint venture with Strategic Minerals Plc (LON:SML,USOTC:SMCDY), through the joint venture vehicle known as Cornwall Resources Limited (CRL).

New Age last traded at $0.01 for a market cap of circa $5 million, the same valuation as three months prior, yet during this time the tungsten price has spiked faster than any other major metal due to reductions in Chinese supply and increasing global demand.

Tungsten has rallied 65% since the start of the year, last being valued at US$310-335/mtu.

The supply / demand dynamic

China produces about 80% of the world's tungsten, and over the past two months there have been significant supply cutbacks.

The Chinese government is now imposing quotas on tungsten production and is tightening up on enforcement of environmental and safety rules.

The European Union has classed tungsten as a critical commodity and the British Geological Survey places it at the top of its supply-risk list of materials needed to maintain the U.K.’s economy and lifestyle.

Gary Fietz, managing director for New Age, spoke exclusively with Proactive Investors, and commented:

"While it is difficult to be certain about future Chinese government policy on the application of tungsten production quotas, we expect there to be continued regulatory pressure on Chinese supply, in a similar fashion to Chinese regulation of its metallurgical coal production over the past 12 months.

"This, coupled with ongoing global demand growth for tungsten is ideal timing for the Redmoor project where a number of the recently announced high grade drilling results is starting to show higher levels of tungsten may be present in the deposit."

The Redmoor deposit contains tin, tungsten and copper.

Providing a further potential value upside for the deposit, it's worth noting tin prices are strengthening at the US$21,000 tonne levels, while copper is up around 12% over the past four months to US$2.92 pound.

Let's talk tungsten

For those new to tungsten, it is an indispensable commodity due to its unique properties including having the highest melting point of all metals (3422 oC), a high density (19.3g/cm3 similar to gold) and hardness close to diamond.

As a result tungsten has many uses in today’s society, and most commonly for its hardness in cemented carbide tools and steel alloys, such as drill bits, cutting tools and wear resistant materials which have a range of uses in industry, construction, mining and defence.

Tungsten also has a range of uses in cars and planes, where its high density is important.

Light bulbs use tungsten wire elements, as do window heating strips in cars.

Less known is tungsten’s use in automatic watches and sports equipment such as in golf clubs.

Lastly and also importantly, tungsten has a growing use in electronics such as vibrators in mobile phones and heat sinks in modern computer processors and integrated circuits.

A re-visit to the Redmoor Tin-Tungsten Project

Results from the first 10 holes of the Phase 1 diamond drilling program have been encouraging, with broad zones of mineralisation intersected.

The thicknesses and grades exceeded the expectations of New Age's directors.

Highlights from the Sheeted Vein System (SVS) include: 14.8 metres at 1.00% tin equivalent from 245.7 metres; 17.5 metres at 0.68% tin equivalent from 265.9 metres; and 28.2 metres at 0.81% tin equivalent from 298.8 metres.

The remaining Phase 1 and Phase 2 results covering 18 to 21 holes are expected during the December quarter 2017.

Adding to the knowledge of the project, a review of historical drilling results from the 1980's has identified 31 significant high-grade intercepts within the SVS, some of which were previously interpreted to represent high-grade lodes.

Historical highlights include: 6.0 metres at 3.73 % tin equivalent from 282.0 metres, supported by broad zones such as: 30.7 metres at 0.91% tin equivalent from 354.0 metres; and 65.0 metres at 0.62% tin equivalent.

A key to the project is that the joint venture has maintained a close working relationship with the local community and local and County Councils.

There is ongoing positive community support with Cornwall Council extending drilling consent to 31 October 2017.

The joint venture has also provided local employment, while there is also collaboration with universities, providing further opportunities for master's students.

]]>
Fri, 15 Sep 2017 09:06:00 +1000 http://www.proactiveinvestors.com.au/companies/news/184025/new-age-is-leveraged-to-a-rampaging-tungsten-price-184025.html
<![CDATA[News - WATCH NOW: New Age Exploration's Gary Fietz encouraged by first drill results at Redmoor ]]> http://www.proactiveinvestors.com.au/companies/news/183637/watch-now-new-age-exploration-s-gary-fietz-encouraged-by-first-drill-results-at-redmoor-183637.html New Age Exploration Ltd's (ASX:NAE) managing director, Gary Fietz, has discussed the rising tungsten price and the latest assays from the Redmoor Tin-Tungsten Project with Proactive Investors.

WATCH NOW: New Age Exploration encouraged by first drill results at Redmoor

New Age is partnering with Strategic Minerals Plc (LON:SML,USOTC:SMCDY), through the joint venture vehicle known as Cornwall Resources Limited (CRL).

READ NOW: New Age sharpens focus as news flows from Redmoor Tin-Tungsten Project ]]>
Fri, 08 Sep 2017 07:32:00 +1000 http://www.proactiveinvestors.com.au/companies/news/183637/watch-now-new-age-exploration-s-gary-fietz-encouraged-by-first-drill-results-at-redmoor-183637.html
<![CDATA[News - New Age sharpens focus on high-grade zones as news flows from Redmoor Tin-Tungsten Project ]]> http://www.proactiveinvestors.com.au/companies/news/183572/new-age-sharpens-focus-on-high-grade-zones-as-news-flows-from-redmoor-tin-tungsten-project-183572.html New Age Exploration Ltd (ASX:NAE) is poised to increase exploration news flow in coming months from the 50% owned Redmoor Tin-Tungsten Project in Cornwall, United Kingdom.

New Age is partnering with Strategic Minerals Plc (LON:SML,USOTC:SMCDY), through the joint venture vehicle known as Cornwall Resources Limited (CRL).

Results from the first 10 holes of the Phase 1 diamond drilling program have been encouraging, with broad zones of mineralisation intersected.

The thicknesses and grades exceeded the expectations of New Age's directors.

Highlights from the Sheeted Vein System (SVS) include: 14.8 metres at 1.00% tin equivalent from 245.7 metres; 17.5 metres at 0.68% tin equivalent from 265.9 metres; and 28.2 metres at 0.81% tin equivalent from 298.8 metres.

The remaining Phase 1 and Phase 2 results covering 18 to 21 holes are expected during the December quarter 2017.

A resource update is then expected in the March quarter 2018.

Gary Fietz, managing director for New Age, commented:

"The initial 10 holes drilled at Redmoor this year include a number of encouraging intercepts with excellent thicknesses and grades from high-grade zones within the SVS.

"We have re-focused Phase 2 of the drilling program on further definition of high-grade zones within the SVS which we believe are a superior underground mining target than the high-grade lodes targeted by the earlier Phase 1 holes.

"We look forward to updating the market on the remaining Phase 1 and Phase 2 drilling results in quarter 4 this year and on the resource update in the first quarter of 2018."

WATCH NOW: New Age's Gary Fietz discusses tungsten price and latest results

Adding to the knowledge of the project, a review of historical drilling results from the 1980's has identified 31 significant high-grade intercepts within the SVS, some of which were previously interpreted to represent high-grade lodes.

Historical highlights include: 6.0 metres at 3.73 % tin equivalent from 282.0 metres, supported by broad zones such as: 30.7 metres at 0.91% tin equivalent from 354.0 metres; and 65.0 metres at 0.62% tin equivalent.

These intercepts provide confidence in the continuity of high-grade zones.

Next steps

Phase 2 exploration is focused on further definition of the high-grade zones identified within the SVS as these have greater potential for a more economically attractive underground mining target than the high-grade lodes.

Location and support

CRL has maintained a close working relationship with the local community and local and County Councils.

There is ongoing positive community support with Cornwall Council extending drilling consent to 31 October 2017.

The joint venture has also provided local employment, while there is also collaboration with universities, providing further opportunities for master's students.

]]>
Thu, 07 Sep 2017 13:03:00 +1000 http://www.proactiveinvestors.com.au/companies/news/183572/new-age-sharpens-focus-on-high-grade-zones-as-news-flows-from-redmoor-tin-tungsten-project-183572.html
<![CDATA[Media files - New Age Exploration encouraged by first drill results at Redmoor ]]> http://www.proactiveinvestors.com.au/companies/stocktube/8044/new-age-exploration-encouraged-by-first-drill-results-at-redmoor-8044.html Thu, 07 Sep 2017 09:47:00 +1000 http://www.proactiveinvestors.com.au/companies/stocktube/8044/new-age-exploration-encouraged-by-first-drill-results-at-redmoor-8044.html <![CDATA[News - New Age Exploration's drilling well advanced at tin-tungsten project in Cornwall ]]> http://www.proactiveinvestors.com.au/companies/news/183138/new-age-exploration-s-drilling-well-advanced-at-tin-tungsten-project-in-cornwall-183138.html New Age Exploration Ltd (ASX:NAE) and 50:50 joint venture partner Strategic Minerals Plc (LON:SML) is advancing drilling at the Redmoor Tin-Tungsten Project in Cornwall, United Kingdom.

The phase 1 drilling program comprises an initial 13 holes targeting high grade mineralisation.

Drilling is well advanced with results expected around September 2017.

Redmoor

The Redmoor Tin-Tungsten Project is located between the village of Kelly Bray and the town of Callington in southeast Cornwall, around 25 kilometres by road from the city and port of Plymouth.

New Age owns 50% of Cornwall Resources Limited (with Strategic Minerals Plc the other 50%) which holds a 15-year exploration licence and Option for a Mining Licence over the Redmoor project.

]]>
Wed, 30 Aug 2017 16:48:00 +1000 http://www.proactiveinvestors.com.au/companies/news/183138/new-age-exploration-s-drilling-well-advanced-at-tin-tungsten-project-in-cornwall-183138.html