RE: Consolidated Thompson Iron Mines LtdCLM's Bloom Lake has a bankable feasibility study performed already. The mine capital and operating costs are already known, the revenue is the only variable, and so far it's coming in better than the FS assumptions. Dofasco finished up the drilling/testing in the late 1990's and early 2000's, then dropped their option (which at that point was only another payment of about $2m to complete the purchase). CLM only had to put another $1m in studies to finish the original mine plan, before the decision to explore the 7m mt concentrate option.
Cline's Madagascar property has had minimal exploration, and certainly not enough drilling to fully justify a mine. As of this point in time it's about one fourth the size of Bloom Lake, assuming the reconnaisance work and assumptions hold true.