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09/10/13 - $0.02
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nwm mining corp (NWMMF) Details

NWM Mining Corporation, through its subsidiaries, engages in the acquisition, exploration, and development of mineral properties in Mexico. The company primarily explores for gold, as well as silver and copper deposits. It principally holds a 100% interest in the Lluvia de Oro/La Jojoba gold project covering an area of approximately 5,075 hectares located in Sonora, northwestern Mexico. The company was formerly known as Columbia Metals Corporation Limited and changed its name to NWM Mining Corporation in June 2008. NWM Mining Corporation was incorporated in 1949 and is based in Toronto, Canada.

Founded in 1949

nwm mining corp (NWMMF) Top Compensated Officers

Chief Financial Officer
Total Annual Compensation: C$96.0K
Compensation as of Fiscal Year 2012.

nwm mining corp (NWMMF) Key Developments

NWM Mining Corporation Announces Debt Extension to June 30, 2014

NWM Mining Corporation announced that it has extended the due date of the current debt outstanding from April 30, 2014 to June 30, 2014. The extension provides further time extension for the ongoing negotiations to be concluded with the company's lender (Renvest Mercantile Bancorp through its Global Resource Fund). Global Resource Fund has agreed to continue to temporarily defer and accrue monthly interest payments. Additionally, Global Resource Fund has provided an additional $200,000 demand loan to cover several one-time payments required which will be repaid in 2014 once delayed tax receivables from the Mexican tax authorities have been received. The demand loan carries an interest rate of 15%.

NWM Mining Corporation Reports Earnings and Production Results for the First Quarter Ended March 31, 2014

NWM Mining Corporation reported earnings and production results for the first quarter ended March 31, 2014. For the quarter, the company reported net loss of $1,166,754 as compared to income of $164,471 before tax in the comparative quarter in the prior year. For the quarter, 544,919 tonnes of ore were mined containing approximately 7,188 ounces of gold. The mine produced 5,117 gold ounces in the quarter.

NWM Files Updated NI 43-101 Technical Report for Lluvia de Oro Project

NWM Mining Corporation announced that subsequent to its news release dated November 7, 2013, it has filed an updated National Instrument 43-101 Technical Report its Lluvia de Oro Project in Sonora, Mexico. Total reserves for the project, which encompasses the Creston and Gold Ridge mines and the Jojoba deposit, are now estimated at 577,000 ounces (40.8 million tonnes at a combined grade of 0.44 g/t gold). The new reserve estimate represents a 50% increase from the previous estimate completed in 2010. The changes are due to minor errors in some of the original resource block classifications that were discovered during the preparation of the final NI 43-101 compliant Technical Report. The total changes in measured and indicated resources and proven and probable reserves amount to less than 5% of the numbers quoted previously.


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