Ares Strategic Mining Inc - Ordinary Shares NHRIF

RE:RE:NFE Level 2 - TD panic selling for no reason

[SuperMoney]

JR12 wrote: RXM is trading near a high right now and they have the same partner as NFE which is Danieli, they have NO Money(NFE has $ 1million) and NFE's projects are larger and higher grade. So not sure why the market is confusing the two stocks. RXM should be at 2c and NFE should be at 6c right now.

JR, completely agree with you. T

he Company is a 100% owner of five iron ore properties in the Red Lake district containing significant historical resources with grades ranging from 22% to 31% Fe2O3. Northern

In addition, the shareholders’ agreement with OMC will allow:

• an additional 30% for $8.2 million in funding from OMC for dewatering, resource drilling and environmental permitting ;
• an additional 5% for $2 million in total funding for a preliminary economic assessment, funded 70% by OMC and 30% by Northern Iron; and
• an additional 20% for $20 million in total funding for a feasibility study, funded 70% by OMC and 30% by Northern Iron, and assuming the feasibility study establishes technical and economic viability.

At the current burn rate the Company has sufficient cash reserves until mid-2016. There were additional cost cutting measures that will provide the Company with additional cash into January 2017. NFE has no any debts and liabilities. Therefore, no any risk from share consolidation and bankruptcy due to heavy debts like many other junior companies did.