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NWM Mining News - August 20, 2010
NWM Begins Mining at Lluvia de Oro & Draws on Standby Facility
TSX Venture Exchange - Symbol: NWM - Shares Outstanding: 222,541,863
TORONTO, ON. � NWM Mining Corporation (�NWM� or the �Company�) (TSX-V: NWM) announces that it has made a second drawdown of US $2,000,000 under the Standby Facility for US $6,000,000 (the �Facility�) with Renvest Mercantile Bancorp through its Global Resource Fund (�Global�) that was announced in NWM�s press release of June 17, 2010. Uses of proceeds from the Standby Facility include funding for gold production at the Lluvia-Jojoba mine project and general working capital.
NWM�s subsidiary Minera Columbia de M�xico S.A. de C.V. recently executed an agreement for contract mining services at its Lluvia-Jojoba project with established contractor Terracerias y Triturados de Cananea, S.A. de C.V. of Cananea in the State of Sonora, Mexico. The contract is for a period of two years and payments to the contractor are directly related to volumes of rock produced and transported. This week, the first two rounds of blasting have taken place at the Lluvia de Oro gold mine and material handling has commenced.
In connection with this second drawdown from the Facility, the Company has issued to Global 666,668 common shares that are subject to a four month hold period ending December 21, 2010.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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NWM Mining Corp.
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PRODUCER |
CODE : COL.V |
ISIN : CA62946X1042 |
CUSIP : 197801103 |
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MWN Mining is a gold development stage company based in Canada. MWN Mining holds various exploration projects in Mexico. Its main asset in production is LLUVIA DE ORO in Mexico and its main exploration properties are NORTH SONORA, CAMPAMENTO MEXICO and LLUVIA JOJOBA in Mexico. MWN Mining is listed in Canada and in United States of America. Its market capitalisation is CA$ 1.5 millions as of today (US$ 1.2 millions, € 973 367). Its stock quote reached its highest recent level on July 07, 2006 at CA$ 0.41, and its lowest recent point on April 01, 2020 at CA$ 0.01. MWN Mining has 30 110 000 shares outstanding. |