Jul 9, 2012

Northland Finalizes Financing for Mobile Mining Equipment

Northland Resources S.A. (NAU.TO) announced today that it has finalized the financing of its mobile mining equipment from Caterpillar.

Pon Equipment will deliver 23 Caterpillar machines including two large Cat 6060 hydraulic shovels, Cat 793F haul trucks, large Cat 994F wheel loaders, graders and dozers.

Northland intends to begin production during the fourth quarter 2012 and is scheduled to deliver its high quality iron ore concentrate to the market in the first quarter of 2013.

NAU is now trading at 89 cents, just 9 cents above year lows. Volume traded is about 3,000.

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Read more: http://community.nasdaq.com/News/2012-07/northland-finalizes-financing-for-mobile-mining-equipment.aspx?storyid=153889#ixzz207xu1OxX