NWM Mining Corporation NWMMF

debt payment

[goldsfool]

Didn't we pay biotech back a loan we had with them for $5,000,000.00 just prior to the default?  Could someone please confirm.

[zzthnx]

Hi Goldsfool, yes we paid off the loan in Sept. 2010:FOR IMMEDIATE RELEASE TSX Venture ExchangeSeptember 30, 2010 Symbol: NWMShares Outstanding: 224,744,087NWM Repays Loan from BioteQ Environmental Technologies Inc.NWM Mining Corporation (TSX-V: NWM) announces repayment to BioteQEnvironmental Technologies Inc. of $3,606,461 being the balance outstanding of loansmade to NWM by BioteQ in 2008.For

[HonestAbe]

Further to their debt situation my notes indicate they currently have debt of $15M comprised of a $2M note due Dec 2011, $11M note due Sep 2012, and $2M from a credit facility.  They also are involved in an ongoing lawsuit from the lessor of the SART plant for a $10M claim.  DYODD.

[Precious1]

Giving Honestabe a 1 rating is just BSI am a huge shareholder here & he is just stating the facts & NOT bashingThanks for sharing your DD with us & being "Honestabe"I actually thought that it was much worseBTW As long as we meet our production [or close to it] This debt will be paid off or @ least rolled over againAlso there will be a settlement in the SART lawsuitBioteq know

[slick05]

2 million payoff by December doesn't seem unreasonable. I doubt Bioteq will see ultimate victory (they filed a lawsuit against another company at the same time too- another grudge). NWM gave them advance notice of the deficiencies. They were obviously not going to wait ,twiddle their fingers and keep paying the lease for nothing.  Bioteq didn't even have the

[HonestAbe]

"2 million payoff by December doesn't seem unreasonable.".They have $4M cash in the bank plus operating cash flow now coming in (hopefully positive but undetermined at this time) so payment is not an issue for this first debt installment.