North American Tungsten Announces: Production Commences at the Cantung Mine

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.

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