North American Tungsten Corp. Ltd. announced consolidated earnings results for the year ended September 30, 2012. For the year, the company reported net loss of $9.9 million or $0.04 per share compared to a net loss of $15.5 million or $0.07 per share for the prior fiscal year. Cash flow from operating activities was $21.1 million improved by $33.9 million from fiscal 2011. Underlying net income before impairment was $6.3 million or $0.03 per share, improved by $21.8 million from fiscal 2011. Fiscal 2012 results include a $16.2 million non-cash impairment charge to write-down assets as required by IFRS accounting rules. Excluding this and other non-cash charges, including depreciation, EBITDA was $30.3 million compared to $10.3 million in fiscal 2011. Capital expenditures were $25.2 million to support operations at the Cantung mine into the long term.

The company reported operational results for the year 2012. For the year, the company announced that Tungsten concentrate production increased 22% to 273,000 metric tonne units (MTUs) from 224,000 MTUs the previous year; Mine and mill operations improved and stabilized - as evidenced by mill availability of 97.62% against 90.37% a year ago. Average metallurgical recovery was 76.9% against 75.3% a year ago. Average daily feed tonnes was 969 against 925 a year ago. Total ore milled was 339,000 against 322,000 tonnes a year ago. Mine developments included the area below the 3700' level and also opened access to new zones, including the previously announced Amber Zone. They will also facilitate underground exploration. Exploration in and around the open pit is promising and may add low-cost tonnage.