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lurkeroneon Mar 01, 2009 12:40pm
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Tungsten Polymer Bullets....
Tungsten Polymer Bullets....https://finance.sympatico.msn.ca/investing/news/businessnews/article.aspx?cp-documentid=16240375
North American Tungsten aims at munitions market in tungsten-polymer venture
THE CANADIAN PRESS
December 24, 2008
VANCOUVER, B.C. - North American Tungsten Corp. (
TSXV:NTC) has formulated a joint venture to produce and market tungsten-polymer composite, whose uses include replacing lead in environmentally friendlier ammunition.
A new company, Tundra Diversified Industries LLC, will be owned 43.2 per cent by North American Tungsten, 43.2 per cent by Tundra Particle Technologies LLC of White Bear Lake, Minn., and 13.6 per cent by Queenwood Capital Partners of Bloomington, Minn.
Tundra Diversified Industries is negotiating to supply tungsten-polymer composite to Fiocchi Ammunition, aiming to hit the ballistics marketplace in the first quarter of 2009.
The tungsten-plastic composite material is described as being non-toxic, as malleable as lead, and denser than lead and bismuth.
"This is a historic launch of a revolutionary material that I believe will soon become the fastest-growing segment of the tungsten market and will complete our objective of becoming a vertically integrated tungsten producer," North American Tungsten chairman-CEO Stephen Leahy stated Wednesday.
North American Tungsten and
Tundra Particle Technologies have been working together for three years at a pilot plant in Minnesota, perfecting techniques to improve low-grade concentrates of tungsten, a heavy metal widely used as a steel-hardening alloy.
"The success of our involvement with TPT has enabled us to move our output up the value chain, broadening our company from a producer of tungsten concentrate into a supplier of valued-added products intended for a 21st-century marketplace," Leahy declared.
"The TPT patented conversion process can utilize a much lower grade of tungsten concentrate than today's other tungsten processors require."
As a result, North American Tungsten "will have a significant outlet for lower-grade concentrate" from its Cantung mine in the western Northwest Territories and Mactung development project in eastern Yukon.
Under the agreement, North American Tungsten will provide
Tundra Diversified Industries with 22,500 metric tons of tungsten concentrate next year, increasing to 225,000 tonnes by 2013 at "market-driven prices."
Queenwood Capital is headed by Ronald Erickson, who recently became a director of North American Tungsten and is vice-chairman of Gander Mountain, a U.S. sporting-goods store chain whose merchandise includes tungsten munitions in place of environmentally hazardous lead.