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About
Carbine Tungsten Limited is soon to be a tungsten concentrate producer from its flagship project, the Mt Carbine tungsten mine, in Far North Queensland.
Carbine Tungsten has a three stage development plan for Mt Carbine which will place it as one of the leading western producers of tungsten concentrate:
tailings retreatment to start in 2011 followed by low grade stockpile processing commencing 2012-2013 and then hard-rock mining.
Carbine Tungsten's strategy is to focus on tungsten production, and with the exception of its tin prospects at Mt Carbine and Tara (NSW) is joint venturing or selling its other prospects.
Carbine Tungsten's copper and zinc prospects have been spun out into Fitzroy Resources Ltd (ASX code FRY); Carbine Tungsten retains a 20% shareholding in FRY.
Carbine Tungsten's gold prospects have been spun out into a new company, Gossan Hill Gold Limited, which aims to raise capital to explore for gold in an IPO planned for late 2011. Carbine Tungsten retains a 25% interest in Gossan Hill Gold Limited.
