Perfect Storm is BrewingThis was a very nice nugget LB dropped on us shareholders.......
I would like to share with all shareholders a Tungsten fact. There is 1.4kgs of Tungsten used in the manufacturing or contained in every new EV. This is expected to increase to closer to 2kgs over the next three years as electrical components develop and could top out at 2.5kgs as tungsten-based cathode coatings in lithium-ion batteries are introduced.”...... LB
- GTP will be a major tungsten supplier to the USA.
- There is approximately 276M vehicles registered in the US
- Currently the US manufactures 8.8M each year on average but this number has dropped over the period of COVID.
- The average age of cars is 13.1 years in the US
- The average age of light trucks is 11.6
Considering the mandated switch to EV's by 2035, the current age of each vehicle, and each car will need 2KG of tungsten (that is 1 MTU for every 5 vehicles) has all the earmarks of the perfect storm for Tungsten!