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News: Nevada Iron banks first tranche of private placement

  1. Nevada Iron (ASX:NVI) has received US$299,600 (A$382,843) from completion of the first tranche of a US$1.5 million private placement.

    Proceeds from the placement will progress permitting and execution of key contracts for its wholly-owned Buena Vista iron ore project in Nevada.

    The company expects to receive the final tranche of the private placement by no later than 9 March 2015.

    Negotiations are near complete with a leading rail U.S. carrier for the transport of concentrate from the Huxley rail siding to a variety of ports.

    In addition, the company is continuing negotiations with ports are ongoing to finalise the logistics chain required for operations.

     

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