RSS UpdatesCompany Information for Northland Resources Inc
Company stock charts - 6 Month chart
 TSX; NAU
View full financial data |
Company Statement
Built by leading mine-finders and developers, Northland Resources is preparing to supply iron, copper and gold to Europe's metal-hungry markets. In Sweden and Finland, we control one of the continent's last major undeveloped iron ore provinces. Iron ore is essential to steel fabrication, a key element of European heavy industry. Our proximity to these markets provides a compelling economic advantage to our projects. The Company aims to establish itself as a mining company with iron, copper and gold production on the doorstep of the major industrial manufacturing regions of Europe Northland's senior management have been involved in the discovery and/or construction of at least 8 mines.
Distinguished Team
Successful mining projects require top talent. That's why we've brought together proven mine finders, developers, engineers and financiers with worldwide accomplishments and experience. Karl-Axel Waplan, President & CEO, has vast experience and was directly responsible for supervising the development of Boliden's Storliden mine. CFO Aurelian Bukatko spent over 15 years with Inland Steel Company of Chicago and brings international experience in various business environments. Bill Wagener, also highly experienced, was former President of ARCO Coal Australia Inc. in Brisbane, Australia, which produced 20-million tonnes of coal per year. Paul Marsden, Vice-President Marketing and Metallurgical Development, spent 29 years as a consultant to the international mining and iron and steel industries, including nearly 27 years with Corus Consulting. Manfred Lindvall has over 18 years industry experience and is a native of Norrbotten County in northern Sweden where Northland is developing its Kaunisvaara project. The balance of our team brings us expertise on a major-company level from around the world.
Current Operations
Development Projects
Tapuli
Location: Norrbotten Province, Northern Sweden
Minerals: Iron
Ownership: 100% ownership of an exploration permit
Status: Late Stage Exploration/Early Stage Development - Moving Toward Production
A representative bulk sample of 25 tonnes of drill core from Tapuli was collected in the 1st quarter 2009 and was processed in a pilot plant at GTK in Finland, in order to:
- prove the bench-scale developed process flow-sheet on a larger scale,
- provide a sample of high quality concentrate for evaluation by prospective customers and further metallurgical test work,
- gain process data for commercial plant design, and
- produce tailing fractions for an environmental permit application.
The table below provides a detailed analysis of the concentrate generated from the pilot-scale testwork and demonstrates that the Tapuli project can provide a high-quality iron ore concentrate suitable as feed to pellet plants supplying both the Blast Furnace (BF) or Direct Reduced (DR) iron markets (refer to press release dated April 15, 2009).
FetSSiO2Al2O3MnOCaOMgOP2O5TiO269.30.0450.950.140.090.061.990.030.11
Stora Sahavaara
Location: Norrbotten Province, Northern Sweden
Minerals: Iron
Ownership: 100% ownership of an exploration permit
Status: Exploration, bulk sampling completed -- scoping study commenced
During the 1st quarter 2009 additional metallurgical testing and process development was undertaken at GTK in Finland on drill core samples combined to represent the ore types to be expected across Stora Sahavaara. The testing aimed to see if the levels of Fe could be elevated and the levels of MgO could be reduced, and to provide as improvements to the process conditions by reducing reagent consumption and the time for flotation.
Aditional testwork is contemplated using the improved concentrate quality with higher iron content and lower MgO content, probably blended with similar concentrates from the other NRI projects.
Ownership
Northland owns the exploration permits 100%, free of any royalties or back-in rights.
Hannukainen
Location: Kolari district, Northern Finland
Minerals: Iron Oxide-Copper-Gold
Ownership: 100% ownership of an exploration permit
Status: Advanced exploration with established deposit
A former iron-copper-gold producer, Hannukainen is actually a cluster of five deposits at various depths: Laurinoja, Kuervaara, Lauku, Vuopio and Kivivuopio. Laurinoja and Kuervaara were mined as an open pit during the 1980s. The mine is reported to have produced 4.5 Mt at a grade of 43% Fe, 0.88% Cu and 1 g/t Au. Northland acquired the deposit by staking in 2005, and has since focused on exploring for additional economic copper and gold mineralization within the magnetite resource. In mid-2007, Northland defined a major NI 43-101 compliant resource at Hannukainen with expansion potential. Northland's advanced exploration is focused on completing the work required for the design and construction of a large mining operation at Hannukainen to produce a magnetite (iron ore) pellet feed with a copper-gold concentrate by-product. The area is within 15 km of a rail line.
If Northland is successful in manufacturing DR pellets, which command premium prices in the market, it will expand Northland's potential market into North Africa and the Middle East.
Mineralogical examination of the core from Laurinoja has identified no unexpected or unusual mineralogy and confirms that virtually all the Cu occurs as chalcopyrite. Davis Tube Test results show very high recoveries (up to 99%) of magnetite to the concentrates at a variety of grind sizes, demonstrating good liberation characteristics for the magnetite in the Hannukainen resource. Flotation test work to produce a copper-gold concentrate is underway and results will be reported as they become available.
Pellivuoma
Location: Norrbotten Province, Northern Sweden
Minerals: Iron
Ownership: Northland 100% ownership of exploration permit
Status: Advanced Exploration -- Resource Development (part of Kaunisvaara PEA)
During the spring of 2009, Northland announced the first NI 43-101 compliant resource estimate on the Pellivuoma project, confirming the presence of a substantial tonnage of surface-mineable magnetite (refer to press release dated April 29, 2009):
- The resource, modeled using a cut off of 20% Fe, is:
- Total Indicated resources are 33.8 million tonnes, with an average grade of 30.1% Fe.
- Total Inferred resources are 57.0 million tonnes, with an average grade of 29.8% Fe.
Geographical Spread
Sweden and Finland
Board of Directors and Key Management
| Anders Hvide | Executive Chairman |
| Karl-Axel Waplan | President and Chief Executive Officer |
| William S. Wagener | COO |
| Aurelian Bukatko | CFO |
| Paul Marsden | VP Marketing and Corporate Development |
| Karl-Axel Waplan | Managing Director of European Operations |
| Dr. Vladimir Benes | Vice President of Exploration |
| Anders Hvide | Executive Chairman |
| Tuomo Mäkelä | Director |
| Stuart Pettifor | Director |
| Birger Solberg | Director |
| Mr. Frode Teigen | Director |
Company AddressSuite 830
|
Additional Address/Key ContactNordic Headquarters |
CapitalIssued 110,502,065
|
Annual General MeetingVancouver, Canada | Year EndJanuary 31 |
Major Shareholders
| Teigen Frode Naka Racha Ltd | 6,500,000 | 6.51 |
| SKAGEN KON-TIKI | 4,510,000 | 4.51 |
| SKAGEN VEKST | 3,820,000 | 3.82 |
| HOLBERG NORGE V/HOLBERG FONDSFORVA | 3,200,000 | 3.20 |
| KLP LK AKSJER | 2,824,300 | 2.83 |
Related News
10/12/09 - It’s Progress On All Fronts On Northland’s Scandinavian Iron Ore Assets30/09/09 - Banks Are Now Lining Up To Give Northland’s Swedish Iron Ore Assets The Once Over, As The Company Steps Up The Pace On Its Definitive Study
29/01/09 - Iron Ore Prices May Weaken This Year, But Not Enough To Stop Progress At Northland's Tapuli Project In Sweden
17/09/08 - Another Piece Of The Puzzle Falls Into Place For Northland Resources On Its Iron Ore Development Projects In Scandinavia
24/06/08 - Northland Resources Ought Now To Be Bullet Proof On Its Assumptions For Its Scandinavian Iron Ore Projects
16/01/08 - Northland Resources Could Hit Its Magnetite Targets Quite Early This Year
Most Recent Statement
01/03/10 - Northland Appoints Banks for Project Financing01/02/10 - Co-financing makes a new railroad possible in Pajala
20/01/10 - Continuation of Company to Luxembourg and Change Name to Northland Resources S.A.
18/01/10 - Shareholders of Northland Approve Continuation of the Corporation to Luxembourg
13/01/10 - Karl-Axel Waplan Appointed President and CEO
14/12/09 - Northland Engages Finnshipping to Provide Shipping Services