Issue link: http://resourceworld.uberflip.com/i/119004
Bueno. Damage to the hydro-electric lines has now been repaired, although the company needs to acquire additional funding before restarting operations. Its Q3 results were released in November, with $3.1 million sales announced compared with $4.6 million in Q3 2011. The decline reflected a slide in volumes sold; 10,252 mtu in Q3 2012 compared with 12,697 mtu in Q3 2011. North American Tungsten Corp. Ltd. [NTC-TSX] operates the Cantung tungsten mine in the Nahanni area of western Northwest Territories. For the quarter ending December 31, 2012, the company announced a net loss of $4 million compared with net earnings of $6.6 million in the corresponding quarter the year before. The company blames a drop in APT (ammonium paratungstate) prices, which have fallen from $450 per mtu in December 2011 to $295 per mtu in December 2012. However, North American is pleased to note a year-on-year increase in production: 80,693 mtu compared with 76,628 mtu. The mill processed 90,625 tonnes of ore during the quarter, with an average feed grade of 24 www.resourceworld.com 1.12% WO3 and an average mill recovery of 79.5%. The company continues to explore the property and unveiled results from its late 2012 diamond drill campaign at the Dakota zone, on March 2. This included hole S12-31, which intersected 0.76% WO3 over 17.3 ft (5.27 metres). Meanwhile, the company is also advancing its MacTung Project in the Selwyn Mountain Range, Yukon. Resources here currently stand at 33 million tonnes indicated at 0.88% WO3, and 11.9 million tonnes inferred at 0.78% WO3. Northcliff Resources Ltd. [NCF-TSX] owns 100% of the Sisson tungsten-molybdenum project in central New Brunswick. Positive feasibility study results were released in January 2013. Mine life is estimated at 27 years, with an average yearly production rate of 557,000 mtu of APT – ammonium paratungstate, a refined, higher value tungsten concentrate and 4.1 million lbs molybdenum. Northcliff will build its own APT plant – the only APT plant in Canada. The feasibility study shows a recovery rate of 77% WO3 and 82% Mo. Capital expenditure is $579 million, using long-term prices of $350 per mtu APT and $15 per lb Mo. Initial construction is envisioned for 2014, with commissioning targeted for H2, 2016. The project has proven and probable reserves of 22.2 million mtu WO3 and 154.8 million lbs Mo. Woulfe Mining [WOF-TSXV] whollyowns the Sangdong tungsten-molybdenum project located in South Korea. Under its feasibility study, unveiled in June 2012 – and at a cut-off grade of 0.15% WO3 – total indicated resources across all mineralized zones stand at 16.43 million, for 0.45% WO3. Total inferred resources are just below 19.37 million tonnes for 0.44% WO3. Exploration also continues; results from an underground drill campaign last year were released on October 2, 2012. Highlights included hole WSDD0122 at the Footwall Zone, which graded an average of 0.52% WO3. On November 22, the company announced it had awarded the contract for underground development and extraction of 1.2 million tpy from the Sangdong Mine to Youngin Industries Corp. n APRIL 2013