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American Tungsten & Antimony (ASX:AT4) has revealed it’s picking up the pace of a refurb program for an existing on-site tungsten processing mill at its Dutch Mountain project.
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At least one HotCopper forum user noted the role of tungsten in manufacturing weaponry for the U.S. defence services, also highlighting why that’s pertinent: The current Iran war, which shows no meaningful sign of slowing, is sucking up vast swathes of the U.S. army’s existing inventories.
The value prop there is obvious. More tungsten mills operating, more capacity. (In fact, according to reports in the Financial Times earlier this month, America had by Thursday, March 12, already gone through ‘years’ of stockpiles.)
The market shrugged off what has been yet another bloodbath session for the bourse on Monday; AT4 shares were some +4% higher in Monday morning trades.
Refurb construction works on the mill itself are now underway, though there could be some timeline here to consider, seeing as AT4 wrote it has ordered all parts “allowing works to commence,” suggesting equipment is still en route.
At an estimated cost of around US$400K (A$584,000), once complete, the mill will be fed ore from a historical asset called Fraction Lode; one Jack Webby has been appointed to oversee the works. Previously, Webby worked in QLD as a mine supervisor for sites operated by the likes of BHP and Anglo-American.
“Refurbishing the Dutch Mountain mill is key to our plans to restart processing tungsten as soon as possible to meet strong domestic U.S. and global demand,” American T&A’s managing director, Andre Booyzen, said.
“It is exciting to see this work commencing just over a month since we acquired the project, demonstrating our determination to advance plans to restart production at Dutch Mountain.”
AT4 last traded at 8.1cps.
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