Asia Tungsten Products (Vietnam) Limited (ATC-VN, the Company, the Factory) has now resumed production, prior to the opening of the 29th Annual General Meeting of the International Tungsten Industry Association in Stockholm.

The legal representative and the General Director of the Company, Mr. Chen Guang Yu has advised that the Factory has been idle for several months due to some disputes between the Joint Venture parties. This production campaign is crucial to fulfill some pending contract obligations and rebuild confidence of the business partners of the Company.

The JV parties are in negotiations regarding the disputes. There are some rumours in the market that the Company's President/General Director has been changed. The Company hereby confirms that the management personnel remain unchanged as in the past. In the meantime,the ongoing production on site is going smoothly and high quality Ferro Tungsten is being produced.