$NATUF: Strongbow Resources still collecting Cantung-Mactung royalties
At some point, they wanna assume this all for themselves.
Retain trading symbol in NATUF and operate it as a separate subsidiary.
GO $NATUF
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The loan was granted to Strongbow in 2016 for the purpose of purchasing royalties on the Mactung and Cantung tungsten projects:
The Mactung Royalty is a 4% Net Smelter Returns Royalty on the Mactung tungsten project, which is located approximately 390km northeast of Whitehorse, Yukon, and approximately 790km west northwest of Yellowknife, NWT. The Mactung project straddles the border between Yukon and NWT, Canada. One half of the Mactung Royalty may be purchased by the property owner (to reduce the royalty to 2%) at any time for $2,500,000.
The Cantung Royalty is a 1% Net Smelter Returns Royalty related to the Cantung tungsten project, which is located in western NWT, Canada, approximately 390km east northeast of Whitehorse, Yukon, and approximately 720km west of Yellowknife, NWT.
The Mactung and Cantung projects are currently owned the Government of the Northwest Territories and the Federal Government of Canada, respectively. The governments are currently seeking investors to acquire and advance the projects.
About Mactung
The most recent historic technical report for the Mactung Project was a feasibility study commissioned by North American Tungsten Corporation Ltd. titled "Amended Technical Report on the Mactung Property", dated April 3, 2009, and amended April 30, 2010. The report was authored by eleven Qualified Persons, with Mr. Honorio Narciso, P. Eng (Wardrop Engineering Inc) as lead QP, and Mr. Peter Lacroix P. Eng (Scott Wilson Roscoe Postle Associates) responsible for the mineral resource estimate.
The mineral resource estimate contained in the most recent historic technical report used the Kriging method and a block cut-off grade of 0.5% WO3, and reported an Indicated Resource of 33Mt grading 0.88% WO3, plus an Inferred Resource of 11.9Mt grading 0.78% WO3. The resource estimation procedures are considered appropriate for this type of deposit. Additional drilling is required to advance the resources from Inferred to Indicated and Measured, and a new feasibility study is required to demonstrate the project's economic viability.
Strongbow has not conducted sufficient work to classify the historic mineral resource estimate as a current mineral resource estimate and is not treating the historic resource estimate as a current mineral resource estimate.
The deposit is currently owned by the Government of NWT, whose intention is to sell the asset in order for project development to proceed.
About Cantung
Cantung was an operating tungsten mine until 2015, when the owner of the mine, North American Tungsten Corp (NATC), entered CCAA proceedings.
The most recent historic technical report for the Cantung Project was commissioned by North American Tungsten Corporation Ltd when Cantung was still an operating mine. Titled "Technical Report on the Cantung Mine, Northwest Territories, Canada", dated September 19, 2014, the report was authored by Mr Brian Delaney, P. Eng, and Mr. Finley Bakker P. Geo, Mine Manager and Technical Services Superintendent at the Cantung Mine, respectively.
In the historic technical report, historic Probable Mineral Reserves were reported as 1,818,000 tons grading 0.81% WO3. The historic Probable Mineral Reserves were calculated using a 0.5% WO3 cut-o
