Environmental approvals are in place, mining lease granted and native title agreement finalized.
Browns Range Project also has its Project Management Plan approved, which is a significant step forward to commencing mining operations at the Browns Range Project.
Northern have a shovel ready project and some here think the Jien deal falling through is the end of the world for us.
I'm not the only one that recognizes the potential here - an entity managed by The Lind Partners has lent Northern US$4M, which can be repaid via issuing Northern shares.
Northern still have undrawn loan funds (via The Lind Partners transaction) of US$2.5M less the interest payable, plus the cash it has sitting in the bank available - and now monthly cash burn is down to around AUD$200,000
This provides Northerns very capable management team plenty of time to put in place a "bigger" plan B.
NTU Price at posting:
6.2¢ Sentiment: Buy Disclosure: Held
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