| ||August 28, 2008|
North American Tungsten Releases June 30,2008 Third Quarter Financial Results - Producing 16,232 MTU's WO3 And $3 Million Increase In Sales Over The Previous Quarter
| ||VANCOUVER, BRITISH COLUMBIA: Mr. Stephen Leahy, Chairman and CEO, announces the release of the North American Tungsten Corporation Ltd (the "Company") (TSX-V: NTC) June 30th, 2008, third quarter financial results. |
THIRD QUARTER HIGHLIGHTS
- Sales for Q3 were $15,431,746, up from $12,471,256 in Q2
- Production for Q3 was 73,893 MTUs WO3, an increase of 16,233 MTUs WO3 from Q2
- Mactung feasibility nearing completion
- Further high grade intercepts in western extension of Cantung Mine
- Near record underground production
- Mine operating costs reduced from Q2
- The high Canadian dollar reduced sales realizations
- Net loss of $1.3 million compared to a $5.5 million loss in Q2
- Positive cash flow from operating activities
- A flow"through share offering raised $5.0 million in August
The third quarter financials were filed on SEDAR today for public access and may also be accessed from the Company's website www.natungsten.com.
The Company has scheduled a webcast for Friday, August 29, 2008 2:00 pm PT/5:00pm ET
To access the live teleconference call by phone:
1 866 400 3310 - North America
1 416 850 9144 - All other countries (please consult your local operator, if you have difficulties)
Internet: To access the live webcast on the Company's website - audio only, go to http://www.natungsten.com and register, you will then be taken to a page to listen to the call.
The Company is a publicly listed Tier 1 Junior Resource Company engaged primarily in the operation, development, and acquisition of tungsten and other related mineral properties in Canada. The Company's 100% owned Cantung mine and Mactung development project make it one of the few tungsten producers with both a producing mine and strategic development asset in the western world. Mactung is one of the world's largest known undeveloped high grade tungsten-skarn deposits.
ON BEHALF OF THE BOARD OF DIRECTORS
"Stephen M. Leahy"
Stephen M. Leahy, Chairman & CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Cautionary Note: The Company relies upon litigation protection for "forward-looking" statements.
Toni Williamson, Corporate Geologist
firstname.lastname@example.org, Phone: +1.604.684.5300 Fax: +1.604.684.2992
You can view the Next News Releases item: Tue Sep 16, 2008, North American Tungsten Corporation Ltd. Negotiates Us$3,000,000 Convertible Debenture
You can view the Previous News Releases item: Tue Aug 19, 2008, North American Tungsten Advances Mactung 2008 Summer Program And Feasibility Progress
You can return to the main News Releases page, or press the Back button on your browser.