Oceanic Iron Ore Corp. (FEO) Financings
TSXV: FEO · Iron · Advanced Exploration stage
- Market cap$164.8M
- Share price$0.630
- 52-week range$0.580 – $1.07
- Shares outstanding261,527,423
- ExchangeTSXV
Oceanic is focused on the development of its 100% owned Hopes Advance, Morgan Lake and Roberts Lake iron ore development projects located on the coast in the Labrador Trough in Quebec, Canada. Oceanic's flagship Hopes Advance Project has a NI 43-101 measured and indicated mineral resource of approximately 1.36 bn tonnes and enjoys the distinct advantage of being located at tidewater and not being reliant on third parties for key infrastructure such as port, power and especially bulk transportation to port (negating the need for any rail infrastructure). In December 2019, the Company published the results of a preliminary economic assessment completed in respect of the flagship Hopes Advance project (the ' Study ') outlining a base case pre-tax NPV8 of USD$2.4 bn (post-tax NPV8 of USD $1.4 bn) over a 28 year mine life, and a life of mine operating cost of approximately USD $30/tonne, producing a blast furnace concentrate product grading at 66.5%Fe with approximately 4.5% Silica. More recently, the Company has completed preliminary metallurgical testwork that indicates the potential to produce a high-grade, direct reduction Iron product, based on laboratory-scale flotation testing which may be achievable with modest modifications to the existing flowsheet, thereby providing versatility in product choice and contributing to the global green-steel movement. Further information in respect of the Morgan Lake and Roberts Lake projects, both of which have been explored historically and which have defined historical resources, is also available on the Company's website.
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Oceanic Iron Ore Corp. financial statements
Key figures read from 39 of 39 financial statement filings, Nov 24, 2016 to Aug 27, 2026. Each column is the period as the company first filed it.
Balance sheet: annual key figures
Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.
| Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | |
|---|---|---|---|---|---|
| Cash and equivalents | C$918,209 | C$1,420,984 | C$269,513 | C$662,818 | C$293,162 |
| Total current assets | C$956,991* | C$1,444,068* | C$289,384* | C$675,663* | C$310,528* |
| Exploration and evaluation assets | C$45,364,707 | C$44,899,434 | C$44,453,858 | C$44,178,442 | C$43,910,645 |
| Total assets | C$46,321,698 | C$46,343,502 | C$44,743,242 | C$44,854,105 | C$44,221,173 |
| Debt | C$39,452,031 | C$9,125,047 | C$3,449,747 | C$4,509,993 | C$3,104,997 |
| Total liabilities | C$40,805,135 | C$10,264,823 | C$4,911,897 | C$5,646,543 | C$4,246,137 |
| Shareholders' equity | C$5,516,563 | C$36,078,679 | C$39,831,345 | C$39,207,562 | C$39,975,036 |
* Calculated from the statement's own lines: the company did not print this total with a label.
Income statement: annual key figures
Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Dec 2025 | FY Dec 2024 | FY Dec 2023 | FY Dec 2022 | FY Dec 2021 | |
|---|---|---|---|---|---|
| General and administrative | C$353,295 | C$342,693 | C$320,470 | C$263,118 | C$254,937 |
| Share-based compensation | C$659,144 | C$167,579 | C$109,270 | C$50,388 | C$109,601 |
| Net income (loss) | (C$87,505,643) | (C$3,972,788) | C$51,598 | (C$479,013) | C$3,095,112 |
Cash flow statement: annual key figures
Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Dec 2025 | FY Dec 2024 | FY Dec 2023 | FY Dec 2022 | FY Dec 2021 | |
|---|---|---|---|---|---|
| Operating cash flow | (C$417,349) | (C$797,470) | (C$231,128) | (C$619,576) | (C$817,116) |
| Investing cash flow | (C$200,036) | (C$250,808) | (C$87,177) | (C$62,254) | (C$114,907) |
| Financing cash flow | C$114,610 | C$2,199,749 | (C$75,000) | C$1,051,486 | C$1,178,553 |
| Exploration spending (capitalized) | (C$200,036) | (C$250,808) | (C$87,177) | (C$62,254) | (C$114,907) |
| Change in cash | (C$502,775) | C$1,151,471 | (C$393,305) | C$369,656 | C$246,530 |
| Cash at end of period | C$918,209 | C$1,420,984 | C$269,513 | C$662,818 | C$293,162 |
No financings are on record for Oceanic Iron Ore Corp. yet.
Oceanic Iron Ore Corp. debt and credit facilities
Convertible debentures and notes, loans, credit facilities, bonds, gold loans and prepayments Oceanic Iron Ore Corp. has announced, read by Mining News Terminal. A debt reported in several releases is listed once, at its latest stage.
| Date | Debt | Lender | Amount | Terms |
|---|---|---|---|---|
| 2025-09-15 | Convertible debenture, converted | — | C$450,000 | 8.5% |
| 2023-11-29 | Convertible debenture, amended | — | — | matures 2028-11-29 |
| 2022-09-26 | Convertible debenture, closed / funded | Gordon Keep | C$296,000 | 8.5%, matures 2027-09-26 |
| 2018-11-29 | Convertible debenture, closed / funded | Frank Giustra | C$500,000 | 8.5% |
| 2017-11-23 | Convertible debenture, repaid / settled | — | C$200,000 | 6%, matures 2017-11-23 |
| 2017-11-17 | Convertible debenture, repaid / settled | — | C$2.04M | 8.5%, matures 2017-11-23 |
| 2017-09-26 | Convertible debenture, closed / funded | Sino-Canada Natural Resources Fund | C$200,000 | 8.5% |