Western Star Resources Files Defense Consortium Proposal as Tungsten Prices Surge 900%
NB•Ammonium paratungstate prices soared to US$3,185/MTU after a 900% 12-month rally as China limited exports to 15 firms and cut production 10%. Western Star Resources submitted its Rowland tungsten asset to the Defense Industrial Base Consortium and raised $500,000 through 833,333 flow-through shares.
1. Tungsten Price Rally and Supply Constraints
Benchmark ammonium paratungstate (APT) prices have jumped to US$3,185 per metric tonne unit after a 900% rise over 12 months and a 350% year-to-date increase. China has limited exports to 15 approved firms and cut domestic mine output 10% year-on-year, while the U.S. has produced no tungsten since 2015 and faces a January 1, 2027 procurement rule barring Chinese, Russian, Iranian and North Korean supplies from defense applications.
2. Western Star’s DIBC Proposal
Western Star submitted a proposal to the U.S. Defense Industrial Base Consortium for its past-producing Rowland tungsten project in Jarbidge, Nevada, aiming to secure non-dilutive support ahead of a maiden drill program planned for 2026 and scheduled meetings in Washington in May.
3. Funding and Financing Agreements
The company entered a 12-month investor relations agreement with Plutus Invest & Consulting for €200,000 to build European market awareness starting May 1, 2026. It also closed a non-brokered private placement of 833,333 flow-through shares at $0.60 each to raise $500,000 for Canadian exploration expenses, qualifying for the critical mineral tax credit.
4. Project Assets and Development Outlook
Western Star’s flagship Rowland property is a past-producing tungsten site in Nevada, complemented by 4,740 hectares of contiguous claims in British Columbia’s Revelstoke division. No current NI 43-101 mineral resource has been established and historical production does not constitute a current resource estimate.
