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North American Tungsten Corporation Ltd. (CVE:NTC) announced that production at its 100% owned CanTung Mine has now commenced.

North American Tungsten Corporation Ltd. (TSXV:NTC) announced that production at its 100% owned CanTung Mine has now commenced.

The press release is quoted as saying:

An operating loan facility of up to CAD$8,000,000 (previously CAD$6,000,000) to finance accounts receivable and inventories, as supported by Export Development Canada (“EDC”). Drawings against the facility may be in US dollars as well as Canadian dollars, subject to a US$5 million maximum; existing equipment loans of approximately $385,000; a new facility of up to CAD $3,500,000 for capital expenditures including acquisition of equipment, guaranteed by EDC for at least 50%. Repayments of principal will commence after six months and will be made over thirty months and a new facility of up to CAD$3,500,000 for new and used equipment. Repayments of principal will commence after six months and will be made over thirty months.

Click here to access the entire press release

Click here to access North American Tungsten Corporate Site

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