North American Tungsten Corp. (headquartered in Vancouver, B.C., Canada; entered into a Memorandum of Understanding (MOU) with Tundra Composites Inc. (White Bear Lake, Minn.) to create a 50/50 joint venture for the processing and production of a variety of tungsten powders, intermediates (including ammonium paratungstate?"APT") and composites from tungsten concentrates and other metals, including bismuth and steel. An initial pilot plant will be established at Tundra's facility in Minnesota to establish the technical viability of the process to the point of commercial production. NTC will contribute US$2.85 MM to the venture for the pilot plant, and Tundra will contribute its technology with a deemed value of US $8.5 MM.