North American Tungsten
North American Tungsten 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 both a producing mine and strategic development asset in the western world.
North American Tungsten raises C$6 mln in private placement, renews credit facilities
North American Tungsten Corp Ltd (TSX-V: NTC) said it has negotiated a private placement of 40 million shares at a price of C$0.15 each with insiders and private investors, raising C$6 million.
It will use the money as working capital and to repay the C3 million convertible loan.
It also announced the renewal and increase to its credit facilities with HSBC. In addition to the existing facilities, it now has a new C$500,000 non-revolving equipment loan and an increased electronic funds transfer line of up to C$750,000.
Other North American Tungsten articles
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09/04/09 Stephen Leahy, Chairman & CEO of North American Tungsten talks to Proactiveinvestors
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12/03/09 North American Tungsten jumps after reporting High Grade Mineralization at Cantung Mine
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23/02/09 North American Tungsten's shares jump on MacTung Project feasibility results
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20/01/09 North American Tungsten in strategic deals to become vertically integrated producer
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13/11/08 North American Tungsten – Signs Strategic Supply Agreement with Global Tungsten & Powders Corp
Other North American Tungsten news
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16/11/09 North American Tungsten appoints Kurt Heikkila to board
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23/10/09 North American Tungsten a step closer to developing MacTung project in Yukon
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08/07/09 North American Tungsten sells remaining Jennings property interest to Agnico
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29/06/09 North American Tungsten to put CanTung mine on care and maintenance in Oct 2009
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