Green Technology Solutions, the rare-earth and precious metals-focused developer (emphasis on tungsten), reported today that the company’s mining subsidiary, GTSO Resources, plans to go full steam ahead with global tungsten mining opportunity acquisitions, starting with Africa.
GTSO will be joined in this effort by JV partner Diamond V Associates, Inc., the Alaskan placer-focused gold developer, whose sampling efforts in Ghana have produced some choice black sands core material that is slated to be sent off this week for analysis. Globally recognized metallurgy services and analysis firm, ALS Minerals (over 60 regionally-certified facilities around the world), with whom GTSO has worked a great deal in the past, will be handling the assay. As a trusted leader in such analysis, ALS is going to return some solid data for the JV team that will offer a much better window into the projected tungsten and other precious mineral content of the Ghanese opportunity.
Tungsten is rapidly evolving as the hottest precious metal of the 21st century and prices have been ramping up steadily amid a series of market forces, from China limiting export volumes considerably (while demand grows at around 6.5% annually), to increasingly wide usage in a whole array of manufacturing applications where it is a key element (everything ranging from bulb filaments and hardened steel bits, up to ballistic missiles). GTSO is looking to set up shop globally and opportunities in West Africa are particularly appealing for a variety of economic and logistical factors, thus the company will proceed rapidly with development of a new mining operation in Ghana should the samples validate anticipated mineral content.
China has been in a near monopoly position on tungsten for years now, pricing others out of the market and wielding some 80% of overall market input. Given that the element has no potential substitute in most applications and is a critical component of things like cruise missiles, it is a vital strategic resource and GTSO sees the huge opportunity to generate shareholder value inherent in the underlying dynamics. The JV gives GTSO greater access to mineral-rich West Africa and the Ghana opportunity could emerge as the company’s major regional foothold.
The JV is also pursuing some nice little tungsten opportunities up in Diamond V’s backyard, near Alaska’s Yukon River, marking another potential production vector for this crucial metal that has seen an eight-fold increase in value in just over a decade. GTSO has put in considerable effort establishing relationships with early and mid-stage sector players in pertinent regions (China and South America in addition to those mentioned). The company is really looking forward to applying their growth capabilities to an ever-hungrier global market for precious metals, where shaving off even a tiny slice of the giant pie dominated by companies like Nemont Mining and Rio Tinto means serious returns for shareholders.
CEO of GTSO, Paul Watson, was excited to get a look at the test results and conveyed the optimism enjoyed by senior personnel, who have a good idea of what the black sand samples contain and are anticipating “very encouraging results.”
For more information on Green Technology Solutions, Inc., or to stay up to date with the latest developments, please visit the company’s website at: www.GTSOResources.com
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