Northland Resources SA (NAU.TO) announced today they secured four daily train slots on the Malmbanan railway. These four slots will allow the company to transport all the iron ore produced at the Kaunisvaara-Project to be railed to the port of Narvik, in Norway.
All three parts of the logistics chain are now in place, and the company is gearing up to ship its first iron ore early next year.
Northland also announced they are entitled to draw down a second tranche of the $350M bond facility as an independent consultant has confirmed the company is on track to meet its capex guidance.
Northland is currently trading on the TSX at C$0.82, up 32% since our previous blog post on August 28th.
You can read both press releases here and here.
Disclosure: The author holds a long position in Northland Resources SA. Please see our disclaimer for current positions.
