Tungsten advancing Kilba Well development

Interviews

Transcription of Finance News Network Interview with Tungsten Mining NL (ASX:TGN) Managing Director, Paul Berndt

Lelde Smits: Hello I’m Lelde Smits for the Finance News Network and joining me from mineral explorer, Tungsten Mining (ASX:TGN) is its Managing Director, Paul Berndt. Paul welcome to the Gold Coast Resources Showcase.

Paul Berndt: Thank you Lelde.

Lelde Smits: Tungsten Mining has just announced a maiden JORC resource at your Kilba Well deposit in Western Australia. What are the highlights of the resource?

Paul Berndt: Well we met our initial target of 1.3 million tonnes at 0.6 per cent and in addition to that, we found that we had a lot of other lower grade mineralisation. So contained in the same pit envelope, we now have 5.0 million tonnes at 0.27 per cent WO3.

Lelde Smits: OK and how did the resource compare with your expectations, and what is the potential for further tungsten mineralisation?

Paul Berndt: Well we did expect to realise the amount of tungsten that was in there from our original target, because that was generated back in the 1970s by Union Carbide Corporation, when they explored it. But what surprises is that there is a lot more tungsten mineralisation within the same pit envelope. So that gives us a lot more scope now for increasing the scale of the project, and bringing higher grade mineralisation forward into our planning.

Lelde Smits: And to what extent does the resource support the commercial viability of developing a tungsten mine at the deposit?

Paul Berndt: Well we’ve almost completed our scoping studies on that aspect of the project, and we certainly are confident that we have a project on hand.

Lelde Smits: Now you have been aiming to move the mine to development by next year. Paul, are you on track and what needs to occur before then?

Paul Berndt: Yes we are on track. We need to complete that scoping study and get results into the public domain. We’ve got the JORC resource statement and from those two factors, we’ll have a memorandum of understanding with one of the tungsten off takers for a tungsten supply contract.

Lelde Smits: So when do you expect the Kilba project will move into the construction phase?

Paul Berndt: Well the next milestone is that based on the further definitive engineering work, we’ll be able to make a commitment to the mine and can commence construction, by the fourth quarter of this year.

Lelde Smits: Now more broadly, the mining sector in general has come under pressure this year. How do you believe Tungsten has fared and what is your outlook for the commodity?

Paul Berndt: Well we fared quite well because we have a core group of loyal shareholders, who’re retaining onto the stock in these difficult times. And they certainly endorse and support the project that we have in mind, and they’re prepared to wait until that crystalizes.

Lelde Smits: Finally Paul, Tungsten Mining has only been listed on the ASX for six months. Where would you like to see the Company positioned by this time next year?

Paul Berndt: Well this time next year we’ll be well into construction on the Kilba project and we’ll be starting to investigate seriously, some of the other projects in our project pipeline.

Lelde Smits: Paul Berndt, thank you for the update to Tungsten Mining.

Paul Berndt: Thank you Lelde.

Ends

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