Mason and Champion IronWith all the money flowing into the north shore right now from the iron ore boom, its hard to imagine that some of it won’t find its way over to Mason. Champion Iron just bought out Resources Quebec 37% stake in Quebec Iron for $211mm and I would bet a fair chunk of this will go toward the Mason financing. If fact, it may have already done so, as Investment Quebec was a participant in the consortium that just bought Mason’s Nanoxplore shares for $28 mm. Mason should now have cash on hand of about $43mm ($0.32/share). Hell, who knows, perhaps Champion will show up as a white knight for Mason at some point. I would gladly accept Champion shares in exchange for my Mason shares.
The other big news is that Syrah Resources finally threw in the towel and announced on Monday that they will be slashing graphite production from their Balma mine in Africa by 75%, beginning in October.
I think the Mason management team deserves a vote of confidence at this juncture for their foresight and patience in not giving this project away for peanuts to offshore interests.
The Mookster