GTSO JV Partner Identifies Promising Tungsten Reserves in Alaska
“As the DVA team nears the end of its current project in Alaska, Kirk is already vetting promising new mining prospects throughout the state.”
“DVA President Kirk W. Bastian has wasted no time in identify potential mining prospects in line with our JV agreement,” said GTSO CEO Paul Watson. “As the DVA team nears the end of its current project in Alaska, Kirk is already vetting promising new mining prospects throughout the state.
“We are excited about the prospects for our company moving forward now that we have an experienced group on the ground in DVA to vet and manage deals in Alaska’s mineral-rich territories.”
Due to its unique hardness, tungsten is essential to the manufacture of all kinds of crucial machinery from wind turbines and ballistic missiles to tablet computers and smartphones. Fears of a global supply shortage have sparked sharp rises in the price of tungsten recently.
Most of the world’s supply of tungsten comes from China. Trade representatives from the U.S., Japan and the European Union have asked for the World Trade Organization to establish a dispute settlement panel to rule on claims that China is unfairly restraining exports of tungsten, rare earths and other minerals.
GTSO signed a joint venture agreement with DVA earlier this month to identify and develop tungsten resources in North America and Africa to help ensure stable supplies of the critical metal outside of China’s control.
GTSO plans to service a fast-growing global appetite for rare and precious metals to compete in an exciting sector that includes Goldcorp Inc. (NYSE: GG), Newmont Mining Corp. (NYSE: NEM), Royal Gold, Inc. (NASDAQ: RGLD) and Barrick Gold Corp. (NYSE: ABX).
About Green Technology Solutions, Inc.
Green Technology Solutions, Inc. [www.GTSOresources.com] is a growth-oriented company exploring rare earth minerals and precious metals production around the world. To learn more, please visit our website at www.GTSOresources.com/investors.html.
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Posted: July 2, 2012