Northland Signs Term Sheet with Caterpillar Financial for Mobile Equipment Lease Facility
(Thomson Reuters ONE) -
Luxembourg, October 8, 2010: Northland Resources S.A. (TSX: NAU, OSE: NAUR -
"Northland" or "the Company") is pleased to announce that Caterpillar Financial
has been appointed to arrange financing for up to USD 50 million for leased
mobile equipment that is expected to be utilised in the development and
operation of the Kaunisvaara Project.
"This is an important component of the total financing package for the
Kaunisvaara Project. In addition to the Caterpillar Lease Facility, financing is
also expected to include a combination of project financing with a syndicate of
banks, financing by off-take parties and equity," said Eva Kaijser, Northland's
CFO.
Northland is a development-stage mining company with a portfolio of iron
projects in northern Sweden and Finland. Northland's Kaunisvaara Project
contemplates the staged development of 3 magnetite iron ore deposits that would
provide feed to a single, multi-line processing facility in Sweden, producing a
high-grade, high-quality magnetite iron concentrate. The results of the
Feasibility Study on the Kaunisvaara Project were released September 27, 2010.
"Karl-Axel
Waplan"
President &
CEO
Northland Resources S.A.
For More Information, Contact:
Karl-Axel Waplan, President & CEO: +46 705 104 239
Anders Hvide, Executive Chairman: +47 92 88 98 58
Eva Kaijser, CFO: +46 709 32 09 01
Marguerite Manshreck-Head, Investor Relations, Canada: +1 647 224 7882
Or visit our website at: www.northland.eu
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1450288]
Press release PDF:
http://hugin.info/137015/R/1450288/391770.pdf
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Northland Resources S.A. via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 08.10.2010 - 16:29 Uhr
Sprache: Deutsch
News-ID 44766
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