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Unread 01-05-2015, 10:25 PM
Jack_Aster Jack_Aster is offline
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NFE.V - Northern Iron Corp.

Northern Iron Corp Due Diligence Report(NFE.V)
Price: $0.015
Shares Outstanding: 95,727,875 common shares (recent placement included)
Insider Holdings: Just under 25% as per
Current cash position should be around $1.5-1.6 million using quarterly cash burn and recent placement added

Northern Iron Corp. (NFE.V) is a Canadian junior exploration company publicly traded on the Venture Exchange. The company is focused on developing high quality iron ore opportunities in the Red Lake Mining Division of Ontario, Canada in order to produce merchant Hot Briquetted Iron (HBI) for the export market.

NFE Financials(Most Recent Out Ending June 30th 2014)

Cash: $829,258 ($952,400 raised in December at $0.05c a share, 3 times the current price)
Receivable: $84,785
Prepaid Expenses: $4,385
Deposits: $205,264
Intangible Assets: $145
Property and Equipment: $350,740
Exploration Assets: $9,573,315
Total Assets: $11,047,892 (Without PP funds)

Liabilities/Debt: $59,270(All Payables)

Quarterly cash burn: $188,313 for 3 months or $563,953 after 9 months. Roughly $200k per quarter

Right now NFE has over $0.10c a share in assets and less than $60,000 in debt. It
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