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North American Tungsten Announces Extended Loan Facilities

Details: Category: Tungsten's News; Published on Wednesday, 19 June 2013 09:24; Written by Elva; Hits: 2158

North American Tungsten Corporation Ltd. (the "Company") is pleased to announce:

The Company has extended its CAD$12,000,000 working capital loan facility (the "Loan") with HSBC Bank Canada (the "Bank") until December 31, 2013.

A US$12,000,000 Letter of Credit ("L/C") backing the Loan is sponsored by two directors of the Company (the "Sponsors") and has been extended for the same period. The Sponsors and the Bank have similarly extended a "Put" Agreement that allows the Bank to exchange the outstanding balance under the Loan with the Sponsors for up to the US$12,000,000 L/C.

In exchange for extending the Put Agreement and the L/C, the Company has agreed to compensate the two Sponsors in the following manner;pay the Sponsors (in US dollars) on the last day of each calendar quarter, an aggregate amount equal to 1.25% of the maximum outstanding principal amount of the L/C during the immediately preceding calendar quarter (or portion thereof), which payments will begin September 30, 2013;

Pay to the Sponsors, an aggregate amount equal to US$2,000,000 (which amount includes the US$1,500,000 originally payable by June 30, 2013 under the original sponsor agreement) on the earlier of (i) the date the Loan is paid in full; (ii) the date the Loan is put to the Sponsors pursuant to the Put Agreement; or (iii) the date the L/C is drawn upon for payment of the Loan;

the Company has agreed to extend the General Security Agreement which grants security over the Company's assets including the MacTung project to the Sponsors. This is subordinated to the security under a Reclamation Security Agreement (see News Release of October 7, 2010);

Upon certain events of default the payments due to Sponsors on the last day of each quarter increase to an aggregate amount equal to 3.0% of the maximum outstanding principal amount of the L/C during the immediately preceding calendar quarter (or portion thereof); and the payment to the Sponsors will increase to US$2,500,000 from US$2,000,000;

Rreimburse the Sponsors' expenses in respect of this transaction; and subject to the approval by the TSX Venture Exchange, the Company will issue 5,000,000 share purchase warrants each of which is exercisable at $0.20 into one common share of the Company. The share purchase warrants will expire two years after issuance.

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Tungsten Exploration in New Brunswick

Details: Category: Tungsten's News; Published on Wednesday, 19 June 2013 09:15; Written by Elva; Hits: 2275

More disconcerting news poured out of the tungsten market last week, with Malaga filling of a Notice of Intention under the Canadian Bankruptcy and Insolvency Act and Stephen Leahy stepping away from his post as CEO of North American Tungsten .

Even APT tungsten prices decided to take a breather from a three-month climb, holding steady at $365-375 per mtu, according to Metal-Pages.

With that in mind, Tungsten Investing News decided to have a look at an exploration and development company that is working on a tungsten-molybdenum-tin project in New Brunswick: Geodex Minerals.

You can visit the following links for more information about tungsten exploration . Thank you very much!

Japanese Tungsten Market Keeps Quite

Details: Category: Tungsten's News; Published on Wednesday, 19 June 2013 09:03; Written by Elva; Hits: 2173

Japanese tungsten market keeps quiet.

Sources in Japanese tungsten market reported to Asian Metal that the consumption for cemented carbide and other kinds of tungsten products keeps low.

Japanese tungsten market keeps quiet, as traders and consumers are inactive in purchasing materials. A consumer based in Japan stated that they have not made purchase any more.

The Japanese tungsten market keeps quite and the tungsten prices are still unchanged.

You can visit the following links for more information about tungsten prices. Thank you very much!

Tungsten Manufacturer & Supplier: Chinatungsten Online - http://www.chinatungsten.com
Tel.: 86 592 5129696; Fax: 86 592 5129797
Email: sales@chinatungsten.com
Tungsten Picture Center: http://picture.chinatungsten.com
Tungsten Video Center: http://v.chinatungsten.com
Tungsten News & Tungsten Prices, 3G Version: http://3g.chinatungsten.com

Tungsten Export Prices Move Up

Details: Category: Tungsten's News; Published on Wednesday, 19 June 2013 09:08; Written by Elva; Hits: 2260

China tungsten export prices move up.

China tungsten prices keep increasing this week, and the traders raise offers further this week.

However, the overseas customers only purchase from hand to mouth, and watch the market for a while. An ammonium paratungstate(APT) trader based in South China expressed that they intend to make offers for APT at USD400-410mtu FOB China this week.

You can visit the following links for more information about tungsten prices. Thank you very much!

Ammonium Paratungstate Market (APT Market) On Jun 18，2013

Details: Category: Tungsten's News; Published on Tuesday, 18 June 2013 09:49; Written by Elva; Hits: 2162

China ammonium paratungstate (APT) uppliers hold APT offers firm.

China ammonium paratungstate market (APT market) continuous to be quiet this week, and the trading volume does not see obvious improvements now.

However, the offers keep firm owing to the high tungsten concentrate price. An APT factory based in South China, whose output is around 200 tons per month, noted that their ammonium paratungstate offers (APToffers) are firm.

You can visit the following links for more information about ammonium paratungstate prices (APT prices). Thank you very much!

Tungsten Manufacturer & Supplier: Chinatungsten Online - http://www.chinatungsten.com
Tel.: 86 592 5129696; Fax: 86 592 5129797
Email: sales@chinatungsten.com
Tungsten Picture Center: http://picture.chinatungsten.com
Tungsten Video Center: http://v.chinatungsten.com
Tungsten News & Tungsten Prices, 3G Version: http://3g.chinatungsten.com