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Nordic Iron Ore: Project financing is the next step - Nordea

With the continued improvement in the iron ore market, we consider the chances of a successful first step in project financing to have also improved. We maintain our long-term through-the-cycle iron ore (62% fines) price of USD ~100 per tonne, with a potential start to construction on the Blötberget project during H2 2021 and first ore potentially two years after that. We raise our fair equity valuation to SEK 10-14 per share (SEK 4-14). Marketing material commissioned by Nordic Iron Ore.

With the continued improvement in the iron ore market, we consider the chances of a successful first step in project financing to have also improved. We maintain our long-term through-the-cycle iron ore (62% fines) price of USD ~100 per tonne, with a potential start to construction on the Blötberget project during H2 2021 and first ore potentially two years after that. We raise our fair equity valuation to SEK 10-14 per share (SEK 4-14). Marketing material commissioned by Nordic Iron Ore.
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