Ann: Financing Arrangements - Mt Carbine Quarry & Mining Leases, page-122

So what you are saying is the drop in the tungsten price is going to hurt all tungsten stocks for the next two years at least?

For example TGN already with a $200 million MC, might find it harder to get mine finance and could continue to drop heavily.

Or GWR, The Hatches creek deposit sale has fallen through once and they might struggle to get the same price again.  There TGN share holdings could continue to lose value, the recent gold results haven't excited the market at all and the cash never stops burning!

You're right, we should all keep our eyes open.