Champion Iron Ord Shs T.CIA

$52M approved for DRPF equipment purchases

[ElanS2]

From the CC and PR;

Direct Reduction Pellet Feed Project ("DRPF Project") Update

• In connection with the recently announced positive findings of the DRPF Project feasibility study, the Board of Directors approved an increase of $52 million to the initial budget of $10 million announced on January 26, 2023, in order to maintain the DRPF Project's estimated 30-month construction period and a potential commissioning of the project in the second half of the calendar year 2025; and
• The DRPF Project remains on schedule with detailed engineering work advancing as planned.

During the Q&A it was confirmed that this will allow them to start ordering long lead time equipment required for them to meet their their target of commissioning in 2H 2025.
These guys are on the ball. They have established a track record and are looking to maintain it. 
This is an investment deign of insurance companies and banks. Does anyone know the current level institutional ownership ?

[ElanS2]

Note that the 52M is an increase of and not an increase to ! They probably already have, in hand, firm offers for the required equipment.