By Kishori Krishnan Exclusive To Tin Investing News

It couldn’t have got better. North American Tungsten Corporation filed its feasibility study technical report on the Mactung Property-Yukon, Canada and on Monday, traders were faced with the prospect of mass buying in one overseas market.

Indian shares surged after a decisive election victory for the country’s incumbent government fueled hopes of stability and reforms. The Bombay Stock Exchange’s Sensex index gained 17 per cent, which is more than the S&P 500 or Dow have ever risen in a single session.

As investors cheered a decisive election victory by the Congress Party-led coalition, trading had to be halted and then suspended for the day as the deluge of buy orders trigged market circuit-breakers. Other stock markets in the Asian region ended mixed, in part because India’s surge helped turn around sentiment; markets that closed earlier such as Japan ended in the red, while later exchanges like China ended higher.

The price of tin on the Kuala Lumpur Tin Market (KLTM) closed lower on Monday on lack of demand, dealers said. At close, the local tin price was down by US$80 to settle at US$13,650 per tonne from last Friday. On the London Metal Exchange (LME), it closed higher by US$75 at US$13,700 per tonne from previously. The premium price differential between the KLTM and the LME had narrowed to US$180 per tonne from US$335 per tonne last Friday.

The price of tin on the KLTM is likely to be steadier next week on consistent demand from overseas buyers, dealers said. They said the metal price is likely to trade between US$13,900 per tonne and US$14,200 per tonne with the participation of European, Japanese and local traders. A dealer said that the sentiment was also expected to be in line with the performance on the LME.

In the case of North American Tungsten (TSXV: NTC) too, which filed its feasibility study report, the Mactung economics are positive with a 23.5 per cent internal rate of return and a pre-tax net present value discounted at 8 per cent of CDN$277 million. The technical report is based on an initial 2,000 tpd underground mine with an 11 year Life of Mine (LOM). There is potential to expand the initial LOM with exploitation of the open pit resource.

Mactung is forecast to produce an average of 749,000 metric tonne units (MTU’s) of WO3 over the first five years of operation. The average operating cost for the first five years of operation is estimated to be CDN$104/MTU.

The estimated capital cost is CDN$356.5 million plus a CDN$45.6 million contingency. Capital payback is expected to be in 2.9 years. The Mactung Project is forecast to run at 2,000 tonnes per day from an underground operation using conventional long hole plus cut and fill mining methods.

North American Tungsten was down 2.56 per cent on the CDNX Exchange to $0.19.

Playfair Mining Ltd. (TSX: PLY) announced that its Risby Tungsten Deposit Resource has increased by 37 per cent.  Announcing the results of the updated NI 43-101 compliant Inferred Mineral Resource Estimate on its wholly owned Risby Tungsten Deposit, the company said the update was completed by PEG Mining Consultants Inc. of Barrie, Ontario, who combined the 2008 drill results with Playfair’s earlier 2007 resource estimate.

The updated inferred resource reports a 37 per cent increase over the 2007 Wardrop Engineering resource. The 2009 study reports an inferred resource of 89.4 million pounds tungsten trioxide (8,537,000 tonnes). The PEG Mining report also indicates an increase in average deposit grade from 0.462 to 0.475 per cent WO3.

Playfair Chairman Don Moore said, “We are elated that the NI 43-101 Compliant Resource Estimate at Risby is 37 per cent larger than our previous numbers, but even more exciting is the untested surface gossan zone located an additional 750 metres on-strike to the north of the newly established deposit outline; which implies that the current resource has significant upside expansion potential.”

Playfair’s wholly-owned Risby Tungsten deposit is a scheelite-bearing skarn occurrence. The deposit is located approximately 55 kilometres west of Ross River, Yukon, Canada and is underlain by lower Paleozoic sedimentary rocks that have been intruded by Cretaceous age biotite-quartz monzonite.

Playfair Mining was in positive territory on the CDNX Exchange to $0.06.

Company news

Solid Resources Ltd. (TSXV: SRW) has appointed D. Randy Hayward to the board of directors. Hayward has maintained a successful law practice in Edmonton for 20 years. During the latter phase of his law practice, he founded and managed Canadian Dispute Resolution (Alberta) Ltd. and marketed the service of mediation to the legal community and the insurance industry.

Concurrent with Hayward’s appointment, the company has granted to him an aggregate of 150,000 options to purchase commons shares of the Company. The options expire at the end of five years and the exercise price is $.24 per share.

The company also announced that it had received regulatory approval to close a private placement of 6,900,000 Units at a price of $.05 per Unit for total gross proceeds of $345,000.00. Each unit consisted of one common share and one common share purchase Unit. Each Warrant is exercisable for a period of 24 months at a price of $.075 if exercised during the first twelve months and $.10 if exercised thereafter. The common shares of Solid acquired pursuant to this private placement are subject to a four month hold period which will expire on August 21, 2009.

The Company has also received approval from the TSX Venture Exchange to issue 1,254,960 shares at $.05 per share to settle outstanding debt for $62,748.

International Barytex Resources Ltd. (TSX-V: IBX) has reported that it has received, in full, from Touch Lucky Investments Limited the first of two payments related to the sale of East China Capital Holdings Limited and its interest in the Shituru Copper project located in the Democratic Republic of Congo.

The first payment was received in accordance with the previously reported terms of the amended sales purchase agreement(SPA). Under the SPA the second, final, payment is due on or before July 21, 2009.

President Leo King said, “We wish Touch Lucky every success with the Shituru project and its endeavours in the DRC. With the receipt of this first payment the company has completed its activities in the DRC and will now step up its activity in looking for new business opportunities.”