GREY:NATUF - Post by User
Post by
StockExpertProon Oct 11, 2013 12:31am
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Post# 21809247
NTC Tungsten Mine Does Not Appear to be Economically Viable
NTC Tungsten Mine Does Not Appear to be Economically ViableIf they are constantly losing money. Why hasn't the NTC board of directors shut down the tungsten mining operations?
In my opinion this company could go bankrupt if they don't cease operations and put everything on idle mode until tungsten prices drastically increase and the Canadian labor market/wages create a business friendly enviroment in order for the company to turn a healthy profit.
NTC seems to be increasing their losses with the increased production output. They should be slowing down their cash burn rate.
Making these important common sense decisions does not require a college degree as a mining engineer. If the V.NTC shareholders do not speak up soon. They could end up being royally screwed over by management. I'm curious to find out what type of compensation the NTC CEO and other management at this company are currently receiving.
https://www.stockhouse.com/companies/quote/v.wof/woulfe-mining-corp
Note: V.WOF - Woulfe Mining is located in South Korea. Their tungsten project will become very profitable once they go into full scale production. The cheap South Korean labor market and low taxes will create a very healthy business eviroment for Woulfe Mining. The self made Canadian billionaire Ned Goodman and his company Dundee Corporation are heavily invested in Woulfe Mining Corp.
Mr. Goodman is currently a member of the V.WOF board of directors. In a BNN video interview he mentioned how he took a very long flight to South Korea to "kick the tires" at the tungsten mine and thoroughly check everything out. This speaks volumes to me because a billionaire and his company think very highly of the Woulfe Mining tungsten project.
Woulfe Mining is currently in negotiations with Warren Buffett's company IMC, part of the Berkshire Hathaway group. By serving on the board of directors, Ned Goodman is directly helping V.WOF finalize this strategic agreement.
https://www.stockhouse.com/companies/quote/v.wof/woulfe-mining-corp
North American Tungsten Comments on Q3 2013 Results
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 26, 2013) -North American Tungsten Corporation Ltd. (TSX VENTURE:NTC) ("NTC" or "the Company") announces a net loss of $6.3 million ($0.03 per share ) for the three months ended June 30, 2013 and a net loss of $13.7 million ($0.06 per share) for the nine months ended on that date. These compare with a net loss of $2.2 million and net income of $6.9 million for the comparable periods of the prior year. The net loss for the quarter was magnified by the recognition of $1.8 million for employment contract settlements and $1.8 million of impairments of property, plant and equipment surplus to the requirements of the Company.
Read more at: https://www.stockhouse.com/news/press-releases/2013/08/26/north-american-tungsten-comments-on-q3-2013-results#X0Jk3jKLTImDsMDu.99