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That has ZERO to do with NATUF.
NATUF gave the property away for nothing except the cancelation of a portion of they debt they owed to the government. And it wasn't even all the debt - just a portion of it. No cash actually changed hands.
"in 2015, North American Tungsten filed for and was granted creditor protection mainly related to its operations of the Cantung mine located further south. The Government of Northwest Territories purchased the Mactung project for C$4.5 million, which it held onto until Fireweed signed a definitive asset purchase agreement for the property."
NATUF is dead, and the stock is completely worthless. Anyone that held on lost 100% of their investment.
$NATUF: I always knew it..................
What a nice sale price they got it at too
https://www.miningnewsnorth.com/story/2023/06/16/news/worlds-largest-high-grade-tungsten-deposit/7974.html
GO $NATUF
None of that has anything to do with this Company.
NATUF is defunct. The stock is worthless.
Now fireweed comes out after 1 year and throw it into the world face and said the real value.
I still hold my shares.. it sad that this goes for penny on the dollar and certain folks kept talking down this potential now we see the real value comes out.
Who bought shares recently at .0001? Shake my head
"The current Mineral Resource at Mactung ranks it the largest high-grade tungsten resource in the world and it is a clear statistical outlier in terms of grade and contained metal*. It is a tungsten skarn deposit associated with Tombstone-Tungsten suite granitic intrusions that are more broadly linked to a variety of gold and tungsten deposits across Yukon-Northwest Territories. The Mactung deposit is sub-divided into an upper and lower zone that both occur at surface and extend to depths of approximately 400 m below surface."
https://finance.yahoo.com/news/fireweed-metals-announces-mineral-resources-151400406.html
The truth about the real value. They gave this away for little to nothing
https://finance.yahoo.com/news/fireweed-metals-announces-mineral-resources-151400406.html
Fireweed Metals Announces Mineral Resources for the Mactung Project: the Largest High-Grade Tungsten Deposit in the World*
"CEO Statement
Brandon Macdonald, CEO, stated “In one year we have gone from signing an initial Letter of Intent to a Definitive Asset Purchase Agreement to the publication of new mineral resource for Mactung. We have taken the historic resource through a process involving relogging, resampling, and a rigorous, modern estimation methodology, and confirmed an impressive and world-class tungsten resource at Mactung*. This not only reaffirms Mactung's unmatched combination of grade and scale but establishes it as a truly strategic critical minerals project for the West with the underground resource alone able to supply much of North America’s expected demand for decades. Fireweed is looking forward to collaborating with federal, territorial, and Indigenous governments to advance Mactung through the permitting and detailed engineering stages of this unique project.”
NATUF is bankrupt and owns nothing of value. What little they had has already been sold.
The stock is worthless. Shareholders will get NOTHING.
$NATUF: Gordon Brothers sold off a bunch of ASSETS
https://www.gordonbrothers.com/case-study/north-american-tungsten/
GO $NATUF
Shareholders get NOTHING. The government of the NWT gets 100% of whatever is paid, as they own Mactung.
These shares are worthless. That will not change..
$NATUF: For sure we should get comp'ed on this.............
I mean this was a MEGA rev generator and they basically sold Cantung and Mactung
for pennies on the dollar.
Im with you........... Give us some Money, FireWeed METALS !!!!!!!!!!
We just gave you our $NATUF shares
GO $NATUF
Checked on this a week ago.. got them shares .. let's see if my account change lol good news
$NATUF: Looks like Fireweed Metals is getting MACTUNG
https://twitter.com/fireweedmetals
I didn't know about this ............ pay us our MONEY !!!!!!!!
https://www.globenewswire.com/news-release/2022/12/21/2577876/0/en/Fireweed-Closes-Previously-Announced-Offering-for-Total-Proceeds-of-35-Million.html
https://www.cbc.ca/news/canada/north/n-w-t-mactung-tungsten-property-fireweed-1.6480944
What about all that Tungsten at CANTUNG in the NWT ????
Who's getting that ??
Give us our MONEY $NATUF !!!!!!!!!!!!
GO $NATUF
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Maybe this have a merger potential down the road. Cantung Mine still up for sale.
hmmm good or bad news?
The coffin is being lowered into the ground.
https://www.nnsl.com/news/fireweed-zinc-ltd-purchases-mactung-deposit-from-gnwt-for-15-million/
"Though the GNWT and federal government wanted to sell the Cantung Mine and Mactung property as a package deal, this wouldn’t pan out as receipt of an acceptable bid for both properties was not received."
It won't be long before Cantung moves to reclamation. The millions the Federal Government is spending on its care, hoping (praying) that a buyer will come along and absolve them of the environmental cleanup costs, is now dead.
That will also finalize the NATUF's bankruptcy case. Once that happens, the stock will be cancelled.
No, we DO KNOW. The law is the law. Being OTC doesn't make any damn difference.
The stock is worthless. That will never change.
and this is the OTC so who knows????
It can't reverse merge, since it is in bankruptcy and liquidated. It has no management, either, and can't get any as, by law, due to the liquidation.
Not to mention all the debt, unpaid liabilities and the closure/reclamation costs that would come with the shell.
This is basic stuff. Anyone should know this BEFORE they buy shares of a bankrupt and liquidated company.
never? with reverse mergers etc.. I have seen land like that bought up etc.. so until it's over, well then.....
Did you read the story? No one is interested in the uneconomic tungsten at Cantung, due to the hundreds of millions in cleanup and reclamation costs. No one. Which is why the Government is now moving to reclamation and closure. They will return the site to the wilderness.
Mactung may be a different story, but NATUF has no ownership of Mactung, so the point is moot.
The outcome is exactly what I have been saying for years. The stock is worthless, and that will never change.
hmm so now NATUF is que sera sera????I think there is more to this ticker and valuable resource etc.... Only problem is how it's finalized....
so what about the Tungsten etc. so it's not really over now etc...
Now it is a former mine. The Canadian government has announced they are moving to reclamation and closure.
Cantung is no more.
"It no longer even qualifies as a mine."???? hmmmm so what does it qualify as??
Uh, no. They don't qualify for a 211 as they have been liquidated.
And the "mine" is now in the hands of the Federal Government and being cleaned up. It no longer even qualifies as a mine.
It is OVER.
This just heating up. Natuf will be back again 211. Tungsten demand will get this going again
Is there any doubt that this is really over now? NATUF is still worthless, and that will never change. No wants CanTung, due to the MASSIVE environmental liabilities. The Canadian Government will be forced to remediate, close and reclaim CanTung on the taxpayer's dime.
Cantung options narrow
In a written statement on Wednesday, the federal government sounded pessimistic about the likelihood of now selling Cantung.
Matthew Gutsch, a spokesperson for Crown-Indigenous Relations and Northern Affairs Canada, confirmed that “neither proposal met the objectives of the sales process” and said Ottawa would now “continue to develop options for the care and maintenance and the closure/remediation of the Cantung site.”
“Based on the bids received, the committee determined that reopening Cantung is not a viable option at this point in time, and the site will likely proceed with remediation,” Gutsch wrote.
hmmm "period of ~ 5 million years" so very excellent???.
Interesting as to why it was really really really rejected. This is not over especially now that it's value it's increasing and just like I said the government may just want to keep it for themselves etc. Whoever buys it might just keep the company and trade again etc. even the government who knows,........
"However, court documents state the governments have now rejected both."
"Falck, though, argues tungsten prices have “increased substantially” and may help a Mactung sale.
In 2015, when North American Tungsten failed, “tungsten wasn’t worth anything given the control the Chinese had over the market,” said Falck.
Now, he added, with Europe and North America attempting to cut China out of supply chains, “that price is shifting and we’re seeing an increased opportunity for companies to take advantage of that.”""
"Stay period deadline April 30th 2022. Td price/change date updated on
April 19th 2022 14:0356 ET
Something cooking..
Its not trading however we posted an image on td that showed an updated mm date thats dated on April 19th 2022 the last update was on December 31st 2021. Now take it for what it is.
Coincidence? End of April deadline is next week
You asked if its trading we shared an update in the trade price/change date. Now in order to get Natuf rolling again a Market Maker get a 211 plus info coming from company.
This is great news seeing price change date updated for 2022 and end of April getting close.
What was deleted? I don't think NATUF is trading right now....
It's so cold there in the winter so everything would need to be done during the summer. So hopefully news soon as to what is/will be......
"Northwest Territories & Nunavut: vast, mineral-rich and underexplored"
https://resourceworld.com/northwest-territories-nunavut-vast-mineral-rich-and-underexplored/
Prince Charles visiting Canada for Queen Jubilee why?
Why EUROPEANS making minerals deals with NWT coincidence? Lol
Fact check: Did you know
Hopefully, it's able to trade again etc. & Canada keeps its minerals!
$Natuf Merge takeover target 211 asap
Filling could get this rolling asap. Nwt news heating up an deals are finally getting done
Rare Earth Minerals ev deals in NwT finally yay
211 would get it back running again
This will never be "trading" again.
The stock is worthless.
except is this trading still or, would you know its status or when tradable etc...
Do you know if it's trading.. I don't think so though yet???
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Six years after taking the extraordinary step of purchasing the Mactung property — a tungsten mineral exploration project straddling the N.W.T.-Yukon border — the N.W.T. government continues to plod ahead with the complex process of trying to sell it.
Each step of the sale involves a detailed back and forth between a dozen separate governments, a court-ordered monitor in charge of a miner in bankruptcy protection and an undisclosed number of interested mining companies.
To make matters even more convoluted, the Mactung project is being sold in tandem with another mining property — the former Cantung mine. Both of these properties were held by North American Tungsten before it went into bankruptcy protection in 2015.
"It's the most complicated process I've seen in terms of a sales transaction," said John Ketchum, director of the N.W.T. Geological Survey.
But it continues, if slowly.
The territorial government, federal government, and more than 10 N.W.T. and Yukon First Nations governments have approved a list of qualified bidders for the two tungsten projects.
Ketchum said a request for proposal is now out to that short-list of prospective buyers.
"It's a confidential process," Ketchum said, when asked for details on the identities and number of bidders. Releasing company names at this stage, he said, could affect how they are valued and traded on the stock market. "There's a lot of sensitivity around the process."
Back in the fall of 2015, a few months after failing Vancouver-based North American Tungsten was granted creditor protection, the territorial government stepped up to buy Mactung for $4.5 million. When the N.W.T. cabinet approved the purchase, the rationale given at the time was all other offers to purchase the tungsten-rich property were too low.
With mineral leases in both the N.W.T. and Yukon, Mactung is one of the largest-known tungsten deposits outside of China — the main player in the market.
But perhaps more importantly to the territorial government, by buying Mactung, it was able to get responsibility for Cantung off its books. The N.W.T. government transferred all liabilities for Cantung's cleanup to the federal government, based on the devolution agreement signed between the two governments in 2013.
Cantung, roughly 160 kilometres southeast of Mactung, produced tungsten off and on between 1962 and 2015. It has been in care and maintenance ever since.
Cantung mine to close Oct. 27, says North American Tungsten
The Department of Crown-Indigenous Relations and Northern Affairs spent more than $37 million at Cantung between 2015 and March 2021.
According to a recent court filing, cleanup costs at the former mine for the period between March 2021 and April 2022 will cost Canadian taxpayers more than $7 million. Right now, 12 full-time workers on four-week rotations do environmental monitoring and site remediation work at Cantung.
Meanwhile, the territorial government has spent more than $208,000 since 2015 to clean up Mactung and keep it in compliance with its water license. "There's no real ongoing costs with the property at the moment," said Ketchum.
Although the Canadian government has assumed responsibility for Cantung, the property is still technically owned by North American Tungsten, which is currently being run by Alvarez & Marsal, a court-appointed monitor.
In May 2019, the territorial government and the federal department tasked the Vancouver-based monitor to lead the sale of the two mineral properties. Any prospective buyer would assume ownership of the two properties, including all environmental liabilities and securities owed at Cantung.
But Ketchum said buyers do have the option to restart the Cantung mine.
"It's not simply just a remediation project in our minds. We think there is some value still remaining," he said, adding there is also the potential to reprocess Cantung's tailings to recover tungsten.
The request for proposals was supposed to go out in summer 2020, but was delayed due to COVID-19. The pandemic also held things up since some interested bidders couldn't get in for site visits.
The deadline for the request for proposals is not expected to close until early 2022, a spokesperson with Canada's Crown-Indigenous Relations and Northern Affairs, Matthew Gutsch, told CBC News by email.
Once the bids are received, a committee comprising representatives from the federal and territorial governments and the monitor will pick a preferred bidder, he explained.
When (or if) a sale goes through, the Canadian and territorial governments have an agreement about how the proceeds will be split.
But details of that agreement — like so much of this process — are confidential, said Ketchum.
"The sale process is designed to maximize the cash value of the Mactung property and to offset to the greatest extent possible the environmental liabilities that exist at the Cantung mine site," Gutsch confirmed.
Any new owner will also be expected to negotiate a new Impact and Benefits Agreement (IBA) with the Nah?a Dehé Dene Band in Nahanni Butte. "Cantung operated for more than 50 years without any consideration of [the Nah?a Dehé]'s rights and interests," Soham Srimani, acting band manager, wrote in response to questions from CBC.
It wasn't until early 2015 that North American Tungsten signed an IBA with the First Nation, but this agreement was never fulfilled due to the company's bankruptcy protection filing soon after.
"[The Nah?a Dehé Dene Band] is actively working to ensure that any further operations or reclamation activity at Cantung Mine maximizes benefits to [its members] and minimizes further impacts on our traditional territory," explained Srimani, adding a new IBA is needed to document these obligations.
Tungsten in the spotlight
The request for proposals comes at a time when critical minerals, like tungsten, are in the global spotlight.
Tungsten is a durable metal, with the highest melting point and tensile strength of any element. It is used to make cutting and wear-resistant equipment and tools that are important in heavy-duty industries like mining and construction.
In January 2020, the U.S. and Canada signed an agreement to secure access and improve supply chains for so-called critical minerals, many of which are controlled primarily by Chinese producers. Tungsten is one of the 35 critical minerals considered vital to clean energy, communications and military defence technologies.
According to a 2007 filing, Mactung is believed to host more than 290,000 tonnes of recoverable tungsten trioxide.
In 2009, North American Tungsten estimated it would cost $402 million to build Mactung and bring it into production.
Ketchum said the growing interest in critical minerals — and the two tungsten projects by extension — could be a "silver lining" of the complicated sales process.
"Because they are world-class resources," he said. "There's no question about that."
https://www.cbc.ca/news/canada/north/n-w-t-government-mactung-cantung-mine-1.6262590
NATC owned and operated a tungsten mine located in the Northwest Territories known as the “Cantung Mine”. NATC produced “tungsten concentrate”, which was sold to two customers, one of which was Global Tungsten and Powders
Corp. (“GTP”). Low tungsten prices and significant debt service obligations were two of a number of factors that resulted in NATC’s seeking creditor protection.
The Cantung tungsten mine is located in the south-west corner of the Northwest Territories, approximately 720 km west of Yellowknife. The mine is located 390 km from Whitehorse, with year-round access via Watson Lake. North American Tungsten Corporation Ltd (NATC) is the owner of Cantung mine and is responsible for the site under the water licence issued by the Mackenzie Valley Land and Water Board.
The company, while legally responsible for the site, has been under creditor protection since June 2015. A Court-appointed Monitor, Alvarez & Marsal, oversees site operations, which are funded by the Government of Canada through the Companies' Creditors Arrangement Act court process. Under direction from the Court-appointed Monitor, NATC continues to undertake care and maintenance activities at the Cantung mine in order to meet its regulatory requirements. It is also advancing environmental site investigations to assess and determine potential closure options for existing environmental liabilities at the mine site. This work is being carried out in conjunction with federal officials and in consultation with Indigenous groups with asserted rights in the area.
In 2019, a Memorandum of Agreement for the joint sale and marketing process of the Cantung mine and Mactung deposit was signed by the Government of Canada and the Government of the Northwest Territories. There are viable tungsten and copper reserves remaining at the Cantung mine, and as such it is possible that the Government of Canada could find a new operator to resume mining activities before the site is remediated and eventually closed.
https://www.canada.ca/en/crown-indigenous-relations-northern-affairs/news/2019/08/the-northern-abandoned-mine-reclamation-program.html
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