Fermer X Les cookies sont necessaires au bon fonctionnement de 24hGold.com. En poursuivant votre navigation sur notre site, vous acceptez leur utilisation.
Pour en savoir plus sur les cookies...
AnglaisFrancais
Cours Or & Argent en
North American Tungsten Comments on Fiscal 2012 Results
Published : January 28, 2013

Reinforces Commitment to Long-Term Growth Strategy for Cantung and Mactung

( 0 vote, 0/5 ) Imprimer l'article
  Article Commentaires Commenter Notation Suivre la société  
0
envoyer
0
commenter
Mots clés associés :   Canada | Copper |

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 28, 2013) - North American Tungsten (News - Market indicators) ("NTC" or "the Company") announces a net loss of $9.9 million or $0.04 per share for its fiscal year ended September 30, 2012 ("fiscal 2012") compared to a net loss of $15.5 million or $0.07 per share for the prior fiscal year ("fiscal 2011"). 

The Company's fiscal 2012 audited Consolidated Financial Statements and Management's Discussion & Analysis thereon may be accessed under the Company's profile on SEDAR (www.sedar.com) and may also be accessed at the Company's website www.natungsten.com

Fiscal 2012:
  Revenue $107.5 million - up 93% from fiscal 2011
  Cash flow from operating activities $21.1 million - improved by $33.9 million from fiscal 2011
  Underlying net income before impairment - $6.3 million or $0.03 per share, improved by $21.8 million from fiscal 2011
  Net loss $9.9 million or $0.04 per share - is after amortization, depreciation and impairment charges of $36.1 million
     

Fiscal 2012 results include a $16.2 million non-cash impairment charge to write-down assets as required by IFRS accounting rules. Excluding this and other non-cash charges, including depreciation, EBITDA1 was $30.3 million in fiscal 2012 compared to $10.3 million in fiscal 2011. 

1 EBITDA is an non IFRS measure. EBITDA is net income before: taxes, with interest and financing costs, interest income, depreciation and amortization, accretion and impairment removed.

OPERATIONAL HIGHLIGHTS

"This was a pivotal year for the Company. Investments in people and capital improvements focused on initiatives to extend the Cantung mine life and strengthen operating performance," said Stephen Leahy, CEO of NTC. "Although tungsten prices in the second half of the year were lower, investments made and actions taken delivered on our goal of developing an industry-leading tungsten mining and processing operation. I believe this will increase value to our shareholders over the longer term."

Operating highlights include:

  • Tungsten concentrate production increased 22% to 273,000 metric tonne units ("MTUs") from 224,000 MTUs the previous year;
  • Mine and mill operations improved and stabilized - as evidenced by mill availability of 97.62% (2011 - 90.37%), average metallurgical recovery of 76.9% (2011 - 75.3%), average daily feed tonnes of 969 (2011 - 925) and total ore milled of 339,000 (2011 - 322,000) tonnes.
  • Capital expenditures of $25.2 million to support operations at the Cantung mine into the long term.
  • Mine developments included the area below the 3700' level and also opened access to new zones, including the previously announced Amber Zone. They will also facilitate underground exploration. Exploration in and around the open pit is promising and may add low-cost tonnage.
  • Copper sales increased to 807,000 (2011 - 279,000) pounds.
  • The future recovery of tungsten from tonnages in tailings ponds on site is under investigation as a priority project.

Stephen Leahy continued, "We believe there is significant potential to extend the life of the Cantung mine through underground development, surface exploration and the tailings pond recovery project."

TUNGSTEN MARKET

Lower demand during 2012 resulted in a reduction in tungsten APT quotations from its historical highs in 2011 of over US$450/MTU to its most recent US$300/MTU range. 

Recently, market indicators have firmed. The Company anticipates improving price quotations and product demand during calendar 2013. The Company has entered into sales agreements to sell most of its anticipated fiscal 2013 production at prices which are tied to market APT prices.

NEW CREDIT FACILITY

Stephen Leahy reported, "To support Cantung operations and the MacTung project in the near term, the Company has entered into a letter of intent for a short term credit facility with Queenwood Capital Partners II LLC, controlled by two Directors of NTC."

Terms outlined in the letter of intent for the additional US$4.0 million short term credit facility include: interest at 12.5% per annum; maturity October 31, 2013; and security to be granted over the MacTung Property, subordinated to security previously granted.

Stephen Leahy concluded his remarks, "The Company looks forward to the future and wishes to thank its 'Tungsten Team' employees for all their hard work, dedication and extra effort that have allowed us to achieve record sales this year. I also wish to thank all stakeholders, shareholders, vendors, customers and associated partners for helping us build a better Company for the future."

Qualified Person Finley Bakker, P. Geo, Superintendent of Technical Services of the Cantung Mine for the Company has read and approved the technical disclosure contained in this news release. Mr. Bakker is a qualified person under the terms of National Instrument 43-101 of the Canadian Securities Administrators.

ON BEHALF OF THE BOARD OF DIRECTORS

Stephen M. Leahy, Chairman & CEO

ABOUT NORTH AMERICAN TUNGSTEN CORPORATION LTD

The Company is a publicly listed Tier 1 Junior Resource Company engaged primarily in the operation, development, and acquisition of tungsten and other related mineral properties in Canada. The Company's 100% owned CanTung mine and MacTung development project make it one of the few tungsten producers with a strategic asset in the western world. MacTung is one of the world's largest known undeveloped high grade tungsten-skarn deposits.

Cautionary Note: The Company relies upon litigation protection for "forward-looking" statements.

Safe Harbour Statement under the United States Private Securities Litigation Reform Act of 1995 and similar Canadian legislation:  Except for the statements of historical fact contained herein, the information presented contains "Forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and similar Canadian legislation. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", or variation of such words and phrases that refer to certain actions, events or results to be taken, and other factors which may cause the actual results, performance or achievements of North American Tungsten Corporation Ltd. To be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the actual results of reclamation activities, the estimation or realization of mineral reserves and resources, the timing and amount of estimated future production, costs of production, capital expenditures, future prices of commodities, possible variations in ore grade or recovery rates, efficacy and efficiency of milling process, failure of plant, equipment or processes to operate as anticipated, accidents, labour disputes and other risks in the mining industry. Although North American Tungsten Corporation Ltd. has attempted to identify important factors that could cause actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained herein and in North American Tungsten Corporation Ltd.'s other filing incorporated by reference.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

North American Tungsten Corporation Ltd.
Investor Contact
+1.604.684.5300
+1.604.684.2992 (FAX)
info@natungsten.com
www.natungsten.com
Données et statistiques pour les pays mentionnés : Canada | Tous
Cours de l'or et de l'argent pour les pays mentionnés : Canada | Tous

North American Tungsten Corp.

EN DÉVELOPPEMENT
CODE : NTC.V
ISIN : CA6569141089
Suivi et investissement
Add to watch list Add to your portfolio Add or edit a note
Ajouter une alerte Ajouter aux Watchlists Ajouter au portefeuille Ajouter une note
ProfilIndicateurs
de Marché
VALEUR :
Projets & res.
Communiqués
de Presse
Rapport
annuel
RISQUE :
Profile actifs
Contactez la cie

North American Tungsten est une société de production minière de tungsten basée au Canada.

Ses principaux projets en développement sont CANTUNG MINE et MACTUNG au Canada.

North American Tungsten est cotée au Canada. Sa capitalisation boursière aujourd'hui est 1,2 millions CA$ (912 238 US$, 818 368 €).

La valeur de son action a atteint son plus haut niveau récent le 17 juin 2005 à 1,87 CA$, et son plus bas niveau récent le 30 mai 2016 à 0,01 CA$.

North American Tungsten possède 238 120 000 actions en circulation.

Votre avis nous interesse, merci de laisser un commentaire ou de noter cet article.
Evaluer : Note moyenne :0 (0 vote) Voir les mieux notés
 
Rapports annuels de North American Tungsten Corp.
Annual Report 2007
Financements de North American Tungsten Corp.
27/06/2013Announces Issuance of Bonus Share Purchase Warrants in Conne...
Attributions d'options de North American Tungsten Corp.
20/06/2011Announces Investor Relations Strategy
Projets de North American Tungsten Corp.
16/10/2012(Mactung)Achieves Major Permitting Milestone for Its MacTung Project,...
Communiqués de Presse de North American Tungsten Corp.
29/01/2016Rick Mills: Rising Demand And Falling Supply Equals Higher M...
29/11/2015What Do Hedge Funds Think of North American Energy Partners ...
03/11/2015North American Energy Partners posts 3Q loss
23/10/2015NATC Announces Termination of Sale and Investment Solicitati...
13/10/2015Can The Oil Industry Really Handle This Much Debt?
30/09/2015North American Palladium cuts output forecast, jobs
29/07/2015North American Palladium posts 2Q loss
17/07/2015NATC Announces Approval of Sale and Investor Solicitation Pr...
10/07/2015NATC Announces Approval of Interim Financing in Proceedings ...
12/04/2015Magnetar Increases Its Position in TransCanada
31/03/2015NTC Announces Update on the Cantung Dry Stack Tailings Facil...
19/03/2015Announces Results of the March 18, 2015 Annual General and S...
23/02/2015Reports Q1 Fiscal 2015 Results
23/02/2015North American Tungsten Reports Q1 Fiscal 2015 Results
13/01/2015Reports Fiscal 2014 Results
13/01/2015North American Tungsten Reports Fiscal 2014 Results
31/12/2014North American Tungsten Extends Loan Agreement With Callidus...
03/11/2014North American Tungsten Files Technical Report for Cantung M...
20/09/2014North American Tungsten: Cantung Life of Mine Extended Beyon...
09/09/2014North American Tungsten's Mactung Project Receives Regulator...
22/08/2014North American Tungsten Reports Q3 Fiscal 2014 Results
02/07/2014North American Tungsten Completes Financing With Queenwood C...
23/05/2014North American Tungsten Increases Production and Reports Net...
15/05/2014North American Tungsten Completes Callidus Capital Corporati...
24/03/2014North American Tungsten Obtains Regulatory Approval For Conv...
24/03/2014North American Tungsten Obtains Regulatory Approval for Conv...
17/03/2014Mactung Project Receives Positive Final Screening Report
17/03/2014Mactung Project Receives Positive Final Screening Report
01/11/2013Announces Extension of Debt Payment Due Dates
27/08/2013Comments on Q3 2013 Results
12/06/2013Announces Completion of Shares for Debt Transaction
12/06/2013Announces Completion of Shares for Debt Transaction
12/06/2013Announces Completion of Shares for Debt Transaction
07/06/2013Announces Severance Settlement
24/05/2013Comments on Q2 2013 Results and Completes US$4 Million Finan...
25/04/2013NTC Agrees to Payment Schedule With Former Mine Contractor
26/03/2013Announces Results of the March 22nd, 2013 Annual and Special...
28/01/2013Comments on Fiscal 2012 Results
31/05/2011(Mactung)Establishes Special Committee for Mactung, Releases Second Q...
31/03/2011Closes Public Offering for Gross Proceeds of $11.5 Million I...
02/03/2011Announces $10 Million Bought Deal Offering
22/02/2011Announces That it has Filed on SEDAR, Restated September 30,...
31/10/2007NAMED BUSINESS BC’S FASTEST GROWING COMPANY
Publication de commentaires terminée
 
Dernier commentaire publié pour cet article
Soyez le premier à donner votre avis
Ajouter votre commentaire
TSX-V (NTC.V)
0,005+0.00%
TSX-V
CA$ 0,005
30/05 14:22 -
0%
Cours préc. Ouverture
0,010 0,005
Bas haut
0,005 0,005
Année b/h Var. YTD
 -  -
52 sem. b/h var. 52 sem.
- -  0,005 -50,00%
Volume var. 1 mois
420 000 -50,00%
24hGold TrendPower© : 2
Produit
Développe Tungsten
Recherche
 
 
 
Analyse
Interactive chart Add to compare
Graphique
interactif
Imprimer Comparer Exporter
Dernière mise à jour le : 11/02/2010
Vous devez être connecté pour accéder au portefeuille (gratuit)
Top Newsreleases
LES PLUS LUS
Variation annuelle
DateVariationMaxiMini
 
Graphique 5 ans
 
Graphique 3 mois
 
Graphique volume 3 mois
 
 
Nouvelles des Sociétés Minières
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
0,12 AU$-8,00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
7,15 AU$-3,77%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
2,20 AU$+0,00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
3,86 AU$+0,00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
0,12 CA$+4,55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
0,02 CA$+100,00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
5,77 US$-2,86%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
0,20 US$-12,28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
0,80 GBX-3,75%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
0,08 CA$-11,11%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
2,05 CA$+3,02%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
1,84 CA$+0,00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
8,55 CA$+1,18%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
0,18 CA$+2,86%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
0,30 AU$+0,00%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
6,80 US$-2,86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
2,50 CA$+2,46%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
68,46 US$+0,26%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
8,66 CA$-0,35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
0,03 AU$+0,00%Trend Power :