Thursday, April 9, 2009

Stephen Leahy, Chairman & CEO of North American Tungsten talks to Proactiveinvestors

So Steve, thank you very much for joining us for this interview.

You're very welcome Harry.

With China producing 85% of the world's tungsten, why should investors be interested in North American Tungsten?

Well I think there are several reasons, but the main one is actually in your question, and that is the fact that China does produce 85% of the world's tungsten and tungsten is a strategic resource. Tungsten is unique amongst metals; it has attributes such as the highest melting point in any metal by far, it is certainly the hardest metal and in fact in hardness it is second only to diamond. The third of course is its density factor and being non-toxic. Its density factor is almost twice that of lead.

And so for those three strategic attributes, tungsten is a very important metal for the industrialized world. When you have one country, ie China, controlling 85% of a market and then you look at, "why North American Tungsten?" Well, we produce 4% of the world's tungsten, and that's just from our current mine. More importantly we have the Mactung deposit, which arguably is approximately 10% of the world's resource including China. So you've got a strategic resource, you have only one producer in North America and only one out of four outside of China in the world and we happen to own a considerable amount of the world's resource and are currently in production. Read more...

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