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May. 24, 2013 02:31PM PST
North American Tungsten Corporation Ltd. (TSXV:NTC) and Queenwood Capital Partners II LLC completed the previously announced $US4 million short term credit facility.
The Company also announced a a net loss of $3.4 million ($0.01 per share ) for the three months ended March 31, 2013 and a net loss of $7.4 million ($0.03 per share) for the six months ended on that date.
The Company also announced a a net loss of $3.4 million ($0.01 per share ) for the three months ended March 31, 2013 and a net loss of $7.4 million ($0.03 per share) for the six months ended on that date.
As quoted in the press release:
The results reflect reduced market prices for tungsten.
Sales revenues of $24.9 million for the quarter were 25% lower, on higher volumes but lower prices, as compared to the second quarter of fiscal 2012. Sales revenues of $36.4 million for the six months period were 39% lower, on marginally lower volume and significantly lower sales prices, than in the same period in fiscal 2012.
Cash flows from operations, before capital outlays and financing activities, were $ 1.9 million in the quarter and $1.1 million in the six months period.
Click here to read the North American Tungsten Corporation Ltd. (TSXV:NTC) press release
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