Pareto affirms "buy" on Oslo-listed Northland Resources

Fri. August 21, 2009; Posted: 11:28 AM

Aug 21, 2009 (M2 PRESSWIRE via COMTEX) -- NRSRF | Quote | Chart | News | PowerRating -- 21 August 2009 - Pareto Securities repeated its "buy" recommendation on the share in Oslo-listed mining company Northland Resources Inc (OSL: NAUR), believing that an expected update will confirm the upside to the stock.

Northland Resources will shortly present an extract from a first external evaluation, or a preliminary economic assessment (PEA), of its Kaunisvaara project in northern Sweden. The study is being prepared by Norwegian firm Aker Solutions ASA (OSL: AKSO) and evaluates project costs and key design parameters.

Pareto considers that the report will bolster the share price target of NOK14.

The complete PEA report is expected at the end of September, but according to Pareto, an extract will be unveiled shortly.

Northland Resources delayed the publication of the extract in June 2009 in order to be able to further press down the estimated capital need for the investment.

Pareto also pointed out that the share in Northland Resources has had a weaker development than other mining companies over the past months. At the same time, the consensus estimates for iron ore prices have risen substantially over the past weeks. The market's pricing of the share has indicated a limited value of the company's iron ore reserves.

In February it was announced that Anders Hvide, who earlier worked at Pareto, was named chairman of the board of directors of Northland Resources.

At 12:27 CET on Friday, the share in Northland Resources traded at NOK5.20, up 4% since opening on the Oslo Stock Exchange.

(EUR1 = NOK8.6)

Comments on this story may be sent to 
nbr.feedback@nordicbusinessreport.com

For full details for NRSRF click here.

More News: Market Updates | Stock Alerts | All Trading News | Stock Index

Archives

Feedback

Email Article Link

Close X

RELATED SITES

Please call 1-213-955-5858 ext. 1

Tax Relief Bank Levy Wage Garnishment

Disclaimer:

The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.

The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302

All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.