Oceanic Iron Ore Corp. (FEO) News
TSXV: FEO · Iron · Advanced Exploration stage
- Market cap$159.5M
- Share price$0.610
- 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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News for Oceanic Iron Ore Corp. (TSXV: FEO) on MineTerminal Pro.