Need we say more November 21, 2012 Project update
"Financing
Northland Resources believes that, in combination with the continuing support of Standard Bank Plc ("Standard Bank") through the Cost Overrun Facility of USD 40 million signed in May 2012, and the Letter of Intent ("LOI") signed with Stemcor Trade Finance Ltd ("Stemcor") whereby Stemcor intends to commit USD 50 million of working capital, the Company has sufficient funds to start production at the Kaunisvaara project and thereby generate revenues during the first quarter of 2013.
The Company is negotiating with several parties concerning the financing of rail cars and harbor equipment, which would decrease Northland's investments in Capex."
Need we say more?