North American Tungsten(TSXV:NTC) announced and commented on its fiscal 2012 results. The Company also reported operational highlights from its Cantung and Mactung projects.
As quoted in the press release:
• 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
NA Tungsten, CEO, commented:
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.