Major Metal Manufacturer Forecasting Sustained Demand and Higher Prices for Tungsten

H.C. Starck, the Germany metal manufacturer (formerly owned by the Bayer Group and recently acquired by Advent & Carlyle), with turnover of € 985 million (2006), employing 3,400 people in 13 manufacturing plants in Europe, USA and the Far East, is forecasting higher tungsten prices.

Quote from H.C. Starck press release of Tuesday 6th May 2008 (our emphasis):

"The substantial increase in demand for molybdenum, tungsten, niobium, and tantalum, including from emerging markets such as China and the global consumer electronics market has resulted in a sustained increase in the cost of raw materials. These market conditions for refractory metals are increasingly projected to be secular, not cyclical. This means that pricing pressures will be sustained and likely increase."

Follow this link for the H.C. Starck press release:

http://www.hcstarck.de/index.php?news_id=20080506145257154289000000&bereich_id=633

Kind Regards,

Fraser Gardiner

Ormonde Mining plc