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Old 05-26-2015, 10:19 AM   Nav to Top  #21
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https://www.youtube.com/watch?v=jKkdLO_vOeI

New video from NFE's ceo explaining the difference between typical Iron ore and DRI/HBI. This will help set the record straight that NFE is still in a very lucrative business compared to the loses mounting on standard iron ore production. On top of that, NFE is in a safe jurisdiction compared to the rest of the other HBI producers worldwide(Libya, Venezuela, etc).


As well, great news today from US Steel Business. Looks like prices are starting to rise and this is a bullish. Article link below:

www.northernironcorp.com
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Old 05-28-2015, 09:38 AM   Nav to Top  #22
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NFE Financial Results Ending March 31st 2015,

Assets
Cash - $1,142,743 – 1.2c a share in cash
Receivable - $11,007
Prepaid Amounts - $14,685
Deposits - $200,000
Property & Equipment - $212,288
Exploration & Evaluation Assets - $9,677,864
Total Assets: $11,258,587

Total Debt/Liabilities - $53,595 (Accounts Payables)

True Net Asset Value Of Company: $11,258,587 - $53,595 / 95,727,875(common shares) = $0.11.7c
At 3.5c, NFE is trading at a 70% discount to its NAV. This does not even include the partnerships created with Danieli and OMC Investments which can easily yield new clients for their HBI product and financing to increase the 43-101. HBI is still very desirable business as it was stated by CEO Basil Botha.

Video: https://www.youtube.com/watch?v=jKkdLO_vOeI

May 2015 Presentation: http://media.wix.com/ugd/f57d32_e0b5...4dc567fa78.pdf

Cash burn is roughly $200,000 per quarter, but the company states in the MD&A that they can easily keep going well into 2016 and even 2017. Please see the MD&A Highlights below for more comments:

NFE MD&A Highlights:
Northern Iron is a mineral exploration company focused on developing high quality iron ore opportunities in the Red Lake Mining Division of Ontario, Canada, which is a past-producing iron ore district. The Company is a 100% owner of five iron ore properties in the Red Lake district containing significant historical resources with grades ranging from 22% to 31% Fe2O3. Northern Iron is listed on the TSX Venture Exchange and commenced trading on 26 August 2011.
The Company is focusing the majority of its efforts in introducing the Griffith mine project to prospective industry partners in North America. It is the intention of management to attract a large industry partner into the project to provide expertise and capital to advance the project.

Future Outlook
The resource definition drilling program at the Griffith Mine commenced in August of 2012 and 11 holes totalling 3730m were completed by 21 September 2012. The holes were drilled around the perimeter of the North Pit. Past production indicated the higher grades and larger resource are located towards the South end of the pit. This should be the priority area for delineation drilling. It is estimated that a minimum of 10,000 metres will be required on the south-west and north-east. Fence drilling can be carried out from the East side, and fan drilling farther South. For the Company to continue to operate as a going concern it must continue to obtain additional financing to maintain operations; although the Company has been successful in the past at raising funds, there can be no assurance that this will continue in the future. In an effort to preserve capital, the Company has ceased all field activity and deep cost cutting measures have been adopted. In addition to the reduction in field work, these cost cutting measures include significant reductions in consulting, travel, and shareholder relation expenditures. At the current burn rate the Company has sufficient cash reserves until mid-2016. There were additional cost cutting measures that came about in May 2014 that will provide the Company with additional cash into January 2017.

Significant Events During the Period
On 3 February 2015, the Company announced the appointment of Alberto Hassan as Chairman of the Board of Directors. On 16 October 2014, the Company announced that it has entered into an investment agreement with OMC Investments Limited (“OMC”), of Hong Kong. The transaction closed on 28 November 2014, and the Company issued 19,048,000 units of the Company (“Units”) by way of private placement at a price of $0.05 per unit, for aggregate proceeds of $952,400. OMC now holds approximately 19.9% of the issued and outstanding shares of the Company. Each Unit consists of one common share in the capital of Northern Iron and one common share purchase warrant (a “Warrant”). Each Warrant is exercisable for a period of three years from the date of closing of the Private Placement at an exercise price of $0.05. The Company also issued 15 common shares of its subsidiary Canadian Iron Metallics Inc. (Canadian Iron) to OMC, reducing its ownership share from 100% to 85%. Canadian Iron holds the Company’s interests in the Karas and Griffith’s properties. The value attributed to the noncontrolling interest in CIM on the closing date is nil. In addition, the shareholders’ agreement with OMC will allow OMC to progressively earn additional equity in CIM, up to a total of 70% of CIM’s issued and outstanding shares, as follows:
· an additional 30% for $8.2 million in funding from OMC for dewatering, resource drilling and environmental permitting (“Resource Definition Funding”);
· an additional 5% for $2 million in total funding for a preliminary economic assessment, funded 70% by OMC and 30% by Northern Iron; and
· an additional 20% for $20 million in total funding for a feasibility study, funded 70% by OMC and 30% by Northern Iron, and assuming the feasibility study establishes technical and economic viability. Should either party not fully contribute its share of funding to both the preliminary economic assessment and feasibility study, it may face dilution. In connection with this transaction, Northern Iron has also agreed to enter into an option agreement with OMC on its other mineral properties. Should OMC fund the full $8.2 million Resource Definition Funding, it has the right to acquire an 80% interest in either the El Sol, Whitemud and Papaonga properties. This may be increased to 90%, if within a five year period after earning 80%, OMC funds an additional $1.5 million in expenditures on the property chosen.
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Old 06-24-2015, 01:21 PM   Nav to Top  #23
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Video: https://www.youtube.com/watch?v=ZBgKmoLgJQQ

Article Link: www.northernironcorp.com

China Powers Up
June 2nd


Most of the inputs into China’s economic model these days involve subtraction – slower economic growth, lower demand for commodities, a reduced focus on exports. But look closely, and there are still numerous additions—including some substantial ones—to the mix. China’s state-owned electrical utilities are set to spend some 350 billion Yuan ($56 billion) on grid improvements in 2015, part of an eight-year plan intended to steer pollution away from coastal population centers. For international coal exporters, it’s nothing short of a sea change – and not a positive one.

The express purpose of the infrastructure upgrade is to correct a geographic mismatch. Chinese manufacturing hubs such as Shenzhen and Guangzhou are on the country’s east coast, perfectly placed for easy shipping, while most of its coal mines are in the west and northwest. But even if the coal were burned in the west and northwest, there were no transmission lines to carry electricity over long distances without significant losses.

Instead, domestic coal has been transported east over rail lines and by sea. But in recent years, opportunistic foreign coal producers have also brought seaborne imports into the country, with Chinese traders snapping them up when the price is lower than domestic coal. In total, imported coal makes up about 200 million tonnes of the 4 billion tonnes burned in China each year.

As for that imported coal, it has been burned almost as soon as it’s entered the country – on the power-hungry eastern seaboard. Domestic coal, too, is largely shipped in and burned locally. The problem with that is that the region isn’t simply home to the bulk of China’s manufacturing — it’s also home to most of its people. Authorities see the haze that blankets Beijing and other cities as an increasingly untenable and potentially destabilizing problem. The solution: building 27 ultra-high voltage (UHV) transmission lines to connect the mines in the northwest and the power-hungry cities on the coast. Burn the coal in Inner Mongolia and Shanxi, use the power in Shanghai.

Eight UHV lines are already up and running. The longest spans some 2,100 kilometers from Hami, in the Mongolian border province of Xinjiang, to Zhengzhou, an eastern city that houses, among other things, a Foxconn plant that played a key role in producing the iPhone 6. Five additional transmission lines are under construction, and Credit Suisse analysts expect work on eight more to begin in 2015.

The shift couldn’t come at a worse time for those supplying coal to the country. China’s appetite for coal was already waning, with total demand up just 0.6 percent in 2014 compared to 16.5 percent in 2011. More importantly, demand actually fell by 6 percent in 2014 in the coastal region, and is expected to keep shrinking for the next six years.

Additional railroad lines have also made it easier to move domestic coal from west to east, reducing the country’s demand for imports even further. Net imports of thermal coal fell 13 percent in 2014, from 244 million tonnes to 213 million tonnes. Credit Suisse expects net imports of just 92 million tonnes in 2020 – a 62 percent reduction in less than a decade. All told, coal’s share of China’s energy supply is expected to drop from 76 percent in 2014 to 69 percent in 2020.

The Chinese government also introduced tariffs on and hiked quality requirements for imported coal late last year. Add that to shrinking demand, and tens of millions of tonnes in surpluses are expected to flood the global coal market over the next few years, driving prices lower. While thermal coal averaged $71 per tonne in 2014, Credit Suisse’s commodities analysts expect it to stay below $60 for the next three years. “The depressing conclusion for coal producers is that flat output is not sufficiently disciplined – more needs to be done to curtail production,” the analysts write.

So who’s going to blink first? Given the strong dollar, Credit Suisse says U.S. producers will likely exit the market first. But there will be no market for any expanded capacity by major producers for years to come. Mining conglomerate Glencore shut down Australian production for three weeks in December, but other Aussie producers haven’t followed suit, in large part because they’re locked into multi-year contracts with domestic railroads and ports that require payments whether they ship anything or not.

A weakened Australian dollar has also made it easier for the second-largest exporter to keep mines running. Russia, the third-largest exporter, “could well be a sticky producer that refuses to scale back output,” thanks to the weak ruble, says Credit Suisse. But the order in which individual countries cut back won’t really matter in the end. Eventually, all coal producers – even those in low-cost Indonesia, the largest exporter to China – will be forced to shrink production. The coal industry is about to take a trip back to the B.C. era – before China, that is.

Source - https://www.thefinancialist.com
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Old 06-29-2015, 05:27 PM   Nav to Top  #24
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News release just now, RXM is working with Danieli(who is also NFE's partner) to develope their HBI mine which is not far from NFE's Griffith Mine. This means the HBI industry is actually moving forward and that's a positive sign! Only difference is that RXM has no money compared to NFE ($1.1 million vs $70k) and they don't have an investment partner like OMC. So if RXM is worth 2 cents a share as is, then NFE should be at 5-6 cents right now. Read the news below:


Rockex to work with Danieli to develop Eagle Island
2015-06-29 14:56 MT - News Release

Mr. Armando Plastino reports
ROCKEX MINING SIGNS CO-OPERATION AGREEMENT WITH DANIELI FOR PROJECT DEVELOPMENT INITIATIVES FOR ITS 100% OWNED EAGLE ISLAND PROJECT
Rockex Mining Corp. has signed a co-operation agreement with Danieli & C. Officine Meccaniche SpA of Buttrino (Udine), Italy, for the two parties to co-operate and collaborate to develop Rockex's 100-per-cent-owned Eagle Island iron ore deposit near Sioux Look-Out in Northwestern Ontario.
The agreement contemplates the development of an integrated operation comprising a concentration plant, a pelletizing plant, an Energiron direct reduction plant and related auxiliary systems, all of which would be designed to ultimately produce 4.0 million tonnes per year of hot briquetted iron ("HBI"). The first stage of the co-operation effort establishes Danieli as a technological partner for marketing and promoting the Eagle Island project to possible strategic partners, financiers and final product off-takers that can support Rockex's efforts and expenses for the preparation of a bankable feasibility study. The agreement has an initial term of two years and, on achieving certain milestones, will automatically extend for an additional two years. If a positive bankable feasibility study is completed and certain levels of financing and off-take commitments are achieved, the agreement contemplates that Danieli and Rockex will negotiate in good faith a cost-competitive definitive agreement for Danieli to supply the concentration plant, the pelletizing plant and the direct reduction plant. If the parties are unable to settle the terms of such an agreement or if Rockex sells Eagle Island without Danieli's ongoing participation then, in certain circumstances, Rockex will be obligated to pay a break fee to Danieli.
"We are very excited about the support and confidence that Danieli has shown in Rockex and our Eagle Island project," said Armando Plastino, Chief Executive Officer of Rockex. "Danieli is a large multi-national engineering firm with an excellent reputation and extensive experience in designing and constructing plants like the ones we will need at Eagle Island. I believe that their willingness to support our efforts at this early stage in exchange for the opportunity to negotiate a cost-competitive agreement speaks volumes for their belief in the ultimate success of Rockex's Eagle Island project."
In the latter half of 2013, Rockex received a National Instrument 43-101 compliant report (the "Report") summarizing the results of a formal Preliminary Economic Assessment (the "PEA"). This Report was prepared by Met-Chem Canada Inc. ("Met-Chem") for the Eagle Island project. The results of the PEA were first announced by Rockex in a comprehensive news release issued on August 27, 2013. Both the PEA and the initial news release can be viewed on Rockex' SEDAR site at Welcome to the SEDAR Web Site / Bienvenue au Site Web SEDAR and Rockex' own website at Document Moved.
Rockex is in the process of revising the 2013 PEA to include HBI as the final product. In this regard, a contract to upgrade the PEA to include HBI has been awarded to CIMA+, Engineering Consultants. A draft version of the revised PEA is expected by the end of July, 2015.
Highlights of the 2013 PEA include:

$ 3.9 Billion Net Present Value with a 5% discount rate (pre-tax)
$ 2.2 Billion Net Present Value with an 8% discount rate (pre-tax)
20.7% Internal Rate of Return (pre-tax) dot 4.2 year pay back
Initial Investment of $1.559 billion (not including sustaining capital of $609 million)
Average site operating cost of $36.63/tonne of iron concentrate (pellet feed)
Updated Resource Estimate doubling Eagle Island's Indicated Mineral Resource to 1.287 billion tonnes at 28.39% iron plus an Inferred Mineral Resource of 108 million tonnes at 31.03% iron.
Life of Mine Production of 6 million tonnes of 66.3% iron concentrate per year for 30 years.
Low strip ratio of 0.51 to 1

Summary of the 2013 PEA
The PEA is based on the production of 6 million tonnes of iron concentrate (pellet feed) per year at a grade of 66.3% total iron ("Fe"). The average run of mine feed of 17.3 million tonnes per year used is based on a mill recovery of 80% operating year-round from the Eagle Island deposit. The life of mine of 30 years was based on 512 million tonnes of in-pit resources at a grade of 28.9% Fe. This tonnage is less than half of Eagle Island's estimated Indicated Resources of 1,287 million tonnes at a grade of 28.39% Fe. Initial capital expenditures are estimated at $1.559 billion for the production of 6 million tonnes per year of iron concentrate (pellet feed). Using an average site operating cost of $36.63 per tonne, and assuming the iron concentrate (pellet feed) sales price at $105USD FOB Sioux Lookout, calculated Net Present Value for the Eagle Island project is $3.9 billion (pre-tax) using a 5% discount rate and $2.2 billion (pre-tax) using an 8% discount rate.
In addition to the PEA, Rockex completed an updated independent Mineral Resource estimate by Met-Chem which has defined 1,287 million tonnes of Indicated Resources at a grade of 28.39% Fe and 108 million tonnes of Inferred Resources at a grade of 31.03% Fe. The updated resource is summarized in the Table below.

Mineral Resource Category Metric Tonnes (Millions) Fe (%)
Indicated 1,287 28.39
Inferred 108 31.03


The PEA includes Inferred Mineral Resources that are considered too speculative to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty that the PEA will be realized.
The Mineral Resource estimates discussed herein may be affected by subsequent assessments of mining, environmental, processing, permitting, taxation, socio-economic, legal, political and other factors. There is insufficient information available to assess the extent to which the potential development of the Mineral Resources described herein may be affected by these risk factors.
The Mineral Resources are reported in accordance with Canadian Securities Administrators ("CSA") NI 43-101 and have been classified in accordance with standards as defined by the "Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") CIM Definition Standards for Mineral Resources and Mineral Reserves". Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.
HBI Potential
A trade-off study was conducted in the early phases of the PEA based on the preliminary information available at that time. The study investigated the feasibility of producing three different products: fines, pellets and hot briquetted iron ("HBI"). The study showed that further analysis is warranted for pellets and HBI, which Rockex will pursue throughout the course of its preparation of a Feasibility Study. Presently, the PEA is based solely on the production of a fines iron concentrate. However, more detailed study of the transformation of iron ore concentrate to HBI to supply the North American electric arc furnace industry and grey foundry industry will be pursued. HBI is considered to be a cleaner, higher quality, finished iron product for the steel industry and is a premium substitute and supplement for scrap steel in electric steelmaking. HBI can also be used in blast furnaces as partial feeding material, providing greater production capacity and reducing at the same time the overall carbon dioxide footprint. The HBI process requires access to an abundant and low cost source of natural gas. Considering Rockex's proximity to the TransCanada Natural Gas Pipeline, Rockex feels it is well positioned to produce HBI and leverage its proximity to transportation infrastructure to supply the North American market in the United States immediately south of the Great Lakes and in Canada.
We seek Safe Harbor.
© 2015 Canjex Publishing Ltd. All rights reserved.
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Old 07-21-2015, 05:15 PM   Nav to Top  #25
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www.northernironcorp.com


Northern Iron Corp seeks partner to develop DRI project in Canada

July 21, 2015

Canada-based Northern Iron Corp is looking for a strategic partner to develop a direct reduction iron (DRI) project in the city of Dryden, in the country’s east-central Ontario province.

"We aim to find a US steel mill interested in securing [DRI] supply," corporate development vp Michael Hepworth told Steel First.

The company intends to develop a 1.5 million-tpy DRI operation in Canada, but a detailed project will be designed only after the conclusion of a pre-feasibility study, expected next year.

Completion of this study depends on funding, however.

Northern Iron Corp will use the Griffith mine’s iron ore reserves, estimated at 125 million tonnes, to feed the DRI plant. The mine, also located in Dryden, was operated by a local firm from 1968 to 1986.

With the project, the company aims to benefit from the growing demand for DRI in the US market.

About 60% of the steel in the USA is currently produced via electric arc furnaces (EAF), according to Northern Iron Corp.

"Prime scrap [material] is scarce and the quality of other scrap types is declining, however," Hepworth said. "And EAFs can’t use iron ore, only metallics [such as DRI]."

The reduced volumes of hot briquetted iron (HBI) produced by Venezuelan firms could also boost demand for Northern Iron Corp’s DRI output, he said.

Besides targeting the US market, the company has already signed a take-or-pay offtake agreement with Italy-based Danieli Centro Metallics.

Under the deal, it will supply 500,000 tpy of DRI to the European firm.

Danieli Centro Metallics is a global technology provider, in sectors from iron ore processing up to DRI production, including EAF feed.

Meanwhile, Northern Iron Corp is betting on its proximity to the US steel industry and easy access to Asian and European markets to foster the development of the DRI project in Canada.

From Dryden, the DRI would be transported by rail to the existing Canadian ports of Thunder Bay and Prince Rupert for export.

"We would have to buy shipping capacities at these terminals [to export]," Hepworth said.

The miner would also take advantage of cheap and regular long-term access to clean natural gas in the region, which would reduce its energy costs by 10%.

A natural gas line already exists at Northern Iron Corp’s mining property, according to the company.

Northern Iron Corp is not connected to the similarly named Australian mining company, Northern Iron.

Source: Steel Prices, Global Steel News and Steel Analysis | Steel First
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Old 07-28-2015, 08:58 PM   Nav to Top  #26
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Northern Iron finishes surveys at Griffith


2015-07-27 07:51 MT - News Release


Mr. Basil Botha reports

NORTHERN IRON CORP. COMPLETES MAGNETIC SURVEY ON THE GRIFFITH PIT

Northern Iron Corp. has completed approximately 11 line kilometres of ground magnetic surveys on the Griffith property.

The survey successfully outlined the broad trend of the iron formations within the North Griffith pit. Depth estimates to mineralization and precise widths were not made. The data provide a guide to the next phase of drilling.

A total of 10.99 line kilometres of ground magnetic surveys were completed using a GSM-19 Version 7 Overhauser magnetometer system.

Magnetic readings were downloaded daily and corrected with the base station data.

Readings were taken every 20 metres along 100-metre-spaced traverses originally set at 118-degree orientation. Portions of some lines, in particular at their eastern extremities, could not be surveyed due to the slope of the pit. The survey outlined the main iron formation previously partially extracted, and reveals the main north-northeast-to-northeast (folded) trend. The southern continuation of the mineralized body is seen extending off pit; the anticlinal sequence is observed as a broader expression, and the east limb, trending south to southeast appears as a near-vertical sequence in the southeast corner of the pit and grid. Correlation with the geology indicates a steep westerly dip for the main iron formation. Overall increase in magnetic intensity to the south is a function of the approximate 35-degree plunge of the iron formation and possibly higher-grade material. The syncline-anticline-syncline geometry is imprecisely defined, due to said plunge, partial extraction of the north portion of the fold set, and possibly to previously unknown faulting by east-southeast-trending discontinuities. The data provide a guide to the next phase of drilling, much of which would be contingent on the dewatering of the pit. A partial dewatering of the pit would provide reasonable access for in-pit delineation drilling of the main iron formation, with collars on the D bench (level).

Drilling on bench D, about 100 m vertically below datum, would test the southern extension of the main iron formation both along strike and down plunge. All holes would be drilled downdip, but drilling from the west would not be as cost-effective due to the layout of the benches.

Drilling of the south extension outside of the pit would be easily achieved, using pre-existing roads, although the extent of flooding in the area should be assessed.

Similarly, there should be some additional testing of the east limb, in the far southeast corner of the pit.

It is vital to test the south extension and down-plunge continuity of the major folded iron formation in the centre south of the pit. For this reason, it is necessary to dewater the pit past level F. Some surface drilling could commence whilst the pit is dewatered. The continuity of the iron formation, based on the recent survey, provides reasonably accurate definition of the target. Also, drilling at this stage would provide some estimates of grade and width to at least near-surface iron content. It is stressed that such intercepts may not be representative of anticipated higher grades at depth.

Further, the results from any subsequent drilling will have an impact of future pit geometry, and it is conceivable that an alternative to significant aerial pit expansion would be access south by a broad ramp, eliminating the need to expand benches B and C, and possibly D. Estimating costs associated with the proposed drilling is contingent on locations on particular bench levels and hence total lengths of individual drill holes. In-pit drilling would benefit from pads on E rather than D benches, reducing several drill hole lengths by up to 100 metres. Strike extensions to the south should be targeted based on the results of the in-pit drilling.

The technical information in the news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by its qualified person, Paul Sarjeant, PGeo (Ont.), qualified person has prepared, supervised the preparation of approved the scientific and technical disclosure in the news release.

© 2015 Canjex Publishing Ltd. All rights reserved.
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Old 08-17-2015, 07:40 PM   Nav to Top  #27
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NFE.V August 2015 presentation just released today: http://media.wix.com/ugd/f57d32_9d92...6e1cf10612.pdf
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Old 08-18-2015, 07:22 PM   Nav to Top  #28
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NFE.V Quarterly Report (Ending June 30th 2015)

Stock Price: $0.015
Common Shares: 95,727,875
Insider Holdings: Just under 25% as per www.sedi.ca

ASSETS
Cash: $851,916
Receivables: $24,493
Prepaid Expenses: $11,282
Deposits: $200,000
Property & Equipment: $166,237
Exploration Assets: $9,770,009
Total Assets: $11,023,937

LIABILITIES
Accounts Payable: $41,215
Total Liabilities: $41,215

August 2015 Presentation: http://media.wix.com/ugd/f57d32_9d92...6e1cf10612.pdf

MD&A Highlights

Northern Iron is a mineral exploration company focused on developing high quality iron ore opportunities in the Red Lake Mining Division of Ontario, Canada, which is a past-producing iron ore district. The Company is a 100% owner of five iron ore properties in the Red Lake district containing significant historical resources with grades ranging from 22% to 31% Fe2O3. Northern Iron is listed on the TSX Venture Exchange and commenced trading on 26 August 2011.

The resource definition drilling program at the Griffith Mine commenced in August of 2012 and 11 holes totaling 3730m were completed by 21 September 2012. The holes were drilled around the perimeter of the North Pit. Past production indicated the higher grades and larger resource are located towards the South end of the pit. This should be the priority area for delineation drilling. It is estimated that a minimum of 10,000 meters will be required on the south-west and north-east. Fence drilling can be carried out from the East side, and fan drilling farther South.

For the Company to continue to operate as a going concern it must continue to obtain additional financing to maintain operations; although the Company has been successful in the past at raising funds, there can be no assurance that this will continue in the future. In an effort to preserve capital, the Company has ceased all field activity and deep cost cutting measures have been adopted. In addition to the reduction in field work, these cost cutting measures include significant reductions in consulting, travel, and shareholder relation expenditures. At the current burn rate the Company has sufficient cash reserves until mid-2016. There were additional cost cutting measures that came about in May 2014 that will provide the Company with additional cash into January 2017.

The Company is focusing the majority of its efforts in introducing the Griffith mine project to prospective industry partners in North America. It is the intention of management to attract a large industry partner into the project to provide expertise and capital to advance the project.
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Old 07-29-2016, 09:59 AM   Nav to Top  #29
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Multi year high hit on NFE this morning. This one was worth loading up over the last little while. Time to sell and move on to safer move lucrative companies like SNF.V, ARD.V, ESE.V, and NVI.V

Northern Iron to acquire three lithium properties



2016-07-28 11:57 MT - News Release


Mr. Basil Botha reports

NORTHERN IRON CORP. SIGNS AGREEMENT TO ACQUIRE LITHIUM PROJECTS IN NEVADA AND ARIZONA

Northern Iron Corp. today signed an agreement to acquire three highly prospective lithium projects: two in Arizona and one in Nevada.

Details of the agreement and properties follow.

Basil Botha, president, said: "Lithium demand is pressuring lithium prices, and the forecasted demand is set to continue to expand the market, and the company intends to play a meaningful role in meeting the needs of the lithium market. Our three highly prospective properties are in Tesla's backyard with excellent infrastructure, and, unlike many of the lithium projects scattered throughout the world, the projects in Nevada and Arizona can be worked year-round."

Nevada

Northern Iron has entered into an agreement to acquire 140 mineral claims comprising 2,800 acres in Clark county, Nevada. The contiguous Jackpot Lake claim group is located 39 miles northeast of Las Vegas.

Highlights/geology -- Jackpot Lake

The United States Geological Survey conducted a survey in 1976, taking 129 core samples, all of which encountered lithium with values up to 550 parts per million and an average of 175 parts per million.

Mr. Botha noted: "The geological and structural setting, as well as the weathering history and brine at Jackpot Lake, is highly analogous to the Clayton Valley, where Albemarle has its Silver Peak lithium-brine operation.

"Albermarle has been in continuous production of lithium carbonate and lithium hydroxide products from Clayton Valley brines since 1967.

"The property is ideally situated to take advantage of amongst other things the solar energy zone in Nevada, and right off of the highway with associated logistical and infrastructural advantages."

Arizona

The company has also entered into an agreement to acquire two land packages in Arizona, consisting of 1,434 acres in the Wilcox playa basin, a large dry lake bed in southeastern Arizona, and 289 acres in the Little Rock target in Yavapai county, Arizona.

Highlights/geology -- Willcox playa

The Willcox playa lithium brine target, as per the USGS 1976 report, consists of one of the most-prospective locations for undiscovered lithium brines and most nearly like the currently exploited brine field in Clayton Valley, Nevada. Airborne electromagnetic prospecting by the USGS identified a 22-square-mile anomaly characterized by high electrical conductivity. The USGS interpreted this anomaly to be caused by a subsurface brine field hosted in sediments beneath the dry playa surface. Arizona Department of Water Resources records show that wells in the vicinity of this anomaly generally report water tables within 60 feet of the playa surface.

The combination of a gravity survey showing a closed gravity low coincident with the zone of high electrical conductivity reinforces the concept that an accumulation of brine is present beneath Willcox playa and that no hydrological outlet allows the accumulated brine to escape. High evaporation rates relative to precipitation in this desert environment allows any brine to become increasingly concentrated over time.

A likely source area for lithium is located to the south, up the hydrological gradient from Willcox playa in the felsic volcanic rocks at Three Sisters Buttes. Hot spring activity at Sulphur Springs, three miles up the hydrological gradient from the Arizona land permits, provides a continuing mechanism for alteration and leaching of lithium-bearing felsic volcanic rocks. Subsurface drainage of this hydrothermal discharge will report directly to Willcox playa in the vicinity of the Arizona land permits.

Highlights/geology -- Little Rock

The Little Rock target was first identified serendipitously during a helicopter-borne VTEM (versatile time-domain electromagnetic) survey conducted by in 2007 while searching for massive copper sulphide deposits. A large, highly electrically conductive body at the south end of the survey area was checked on the ground and found to be a strongly clay-altered rhyolite tuff mostly concealed by a basalt flow.

Geological mapping to the west shows a similar bimodal rhyolite-basalt volcanic association that has been dated between 12 million years ago and 8.8 million years ago (Late Miocene, Mr. Moyer, 1990).

Recognizing that the clay body had potential to be a lithium clay deposit, a reconnaissance sampling campaign was done to understand the extent of the target and the presence, if any, of lithium. Clear evidence was found of a closed, lacustrine paleoenvironment, including thinly bedded rhyolitic claystone and ripple-marked rhyolitic sandstone.

Prior to emplacement of the capping basalt flow, hydrothermal fluid controlled by the basin-bounding fault altered the rhyolitic glass to lithium-enriched clay and then probably discharged into a shallow lake bed. In order to capture the projected basin-bounding fault and the potential volume of hot spring discharge into a closed basin beneath the capping basalt flow, 14 unpatented lode mining claims were staked.

The conceptual dimensions of the target are about 2,500 metres along the strike of the basin-bounding fault, about 300 metres perpendicular to the fault, by about 20 metres thick.

Hectorite clay (LR-6) from an active bentonite mine located in the same late Miocene lacustrine and volcanic strata 40 kilometres to the east carries over 2,700 parts per million lithium.

Dr. Timothy Marsh, PhD, PEng, a qualified person, prepared the disclosures reports related to these projects.

National Instrument 43-101 reports have not been prepared on these properties.

Nevada terms:

Pay $70,000 to the vendor on the signing of this agreement;
Issue $330,000 worth of shares within five days of regulatory approval of this agreement at a deemed value of 1.5 cents per share, to the vendor or its assigns;
Pay a further $50,000 to the vendor on or before 180 days of the signing of the agreement;
Pay a further $100,000 to the vendor on or before the one-year anniversary of the signing of the agreement;
File all forms and pay all fees to keep the claims in good standing, including county fees and BLM (Bureau of Land Management) maintenance fees, as prescribed by U.S. federal law (30 USC 28f, 43 CRF 3833.1-5) on or before Sept. 1, 2016, the latter estimated at $21,700 (U.S.);
Pay a further $100,000 to the vendor within 18 months of the signing of the agreement, in cash or shares at the election of the purchaser;
Paying a further $125,000 to the vendor within 24 months of the signing of the agreement, in cash or shares at the election of the purchaser;
Paying a further $205,000 to the vendor within 36 months of the signing of the agreement, in cash or shares at the election of the purchaser;
Completing no less than $1-million worth of expenditures on the claims within three years of the signing of the agreement.
Arizona terms:

Paying $20,000 on the signing of this agreement;
Issuing $270,000 worth of common shares within five days of regulatory approval of this agreement at a deemed value of 1.5 cents per common share, to the vendor or assigns as set out in Schedule B;
Filing all forms and paying all fees to keep the claims in good standing, including county fees and BLM maintenance fees, as prescribed by U.S. federal law (30 USC 28f, 43 CRF 3833.1-5) on claims on or before Sept. 1, 2016;
Paying $50,000 on or before June 29, 2016;
Paying $100,000 on or before June 8, 2017;
Paying $300,000 in cash or shares, at the election of the purchaser on or before June 8, 2018;
The owner shall retain a 2.5-per-cent gross overriding royalty on each property, of which 1 per cent can be bought back for $1-million.
© 2016 Canjex Publishing Ltd. All rights reserved.
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