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Northern Iron Corp announces a webinar on October 21st covering the recently signed OMC Investments Limited investment agreement.
(via Thenewswire.ca) Vancouver, British Columbia, Canada / TNW-ACCESSWIRE / October 20 2...
About this update from Ares Strategic Mining Inc
[{"type":"text","content":"Northern Iron Corp announces a webinar on October 21st covering the recently signed OMC Investments Limited investment agreement.(via Thenewswire.ca)\n \n \nVancouver, British Columbia, Canada / TNW-ACCESSWIRE / October 20 2014 / Northern Iron Corp. (\"Northern Iron\") (TSX-V: NFE) (FRANKFURT: N8I) today announced that it will hold a webinar on October 21st at 1:30pm (EST) for interested parties to hear the specifics and benefits of the investment agreement announced on October 16th 2014.\n\n \n \nThe webinar will provide an outline of the agreement and the benefits for Northern Iron, followed by a question and answer session for all participants. The webinar will be of interest to investors, brokers and analysts.\n\n \n \nInterested investors, brokers and analysts are invited to click here to sign up for the webinar.\n\n \n \nThe Cooperation Agreement\n\n \n \nUnder the investment agreement Northern Iron and OMC Investments intend to form a joint venture to develop the Griffith Property. Although no feasibility study has yet been completed the agreements anticipate the re-development of the Griffith Mine and the development of a fully integrated operation to produce Hot Briquetted Iron (HBI) or Direct Reduced Iron (DRI) comprising a concentration plant, pelletizing plant, an Energiron direct reduction plant, briquetting plant and related auxiliary systems. \n\n\n \nOMC will own 19.9% of Northern Iron's equity, along with 15% of the project and has the option to acquire up to 70% of the project equity upon the provision of $30.2 million in 3 stages. OMC is expected to become Northern Iron's strategic partner for raining finance in Asian markets and for marketing finished product in Asia.\n\n \n \n---000---\n\n \n \nA feasibility study has not been completed and there is no certainty the proposed operation will be economically viable and successful in fulfilling the orders.\n\n \n \nAbout Northern Iron Corp.\n\n\n \nNorthern Iron is a 100% owner of five iron (magnetite) properties in the Red Lake district. The Red Lake district is an established mining area in Ontario, where Northern Iron has two near term development projects, the past producing Griffith mine and the Karas property.\n\n\n \nNorthern Iron is currently working towards the production of HBI, a transportable form of direct reduced iron. HBI is complementary and a vi...