Steadright Critical Minerals Inc V.SCM

Primary Symbol: C.SCM

Steadright Critical Minerals Inc. is a mineral exploration company. The Company is engaged in exploration and evaluation of mineral properties. The Company holds an option on its RAM property near Port Cartier, Quebec within the Cote-Nord Region, which is accessible by route 138. The RAM project consists of over 13,000 acres and is located on an Anorthositic complex that is in a highly prospective geological unit, which is underexplored for nickel (Ni), copper (Cu), cobalt (Co) and precious metals. The Anorthositic complex consists of anorthosite, leuconorite, and leucotroctolite assemblages at its center, surrounded by a leuconorite, pegmatitic norite, and anorthosite unit. The RAM Property is roughly 29 km southwest of Port-Cartier, Quebec. The Company also owns a 100% undivided interest in the Saint Gabriel Project (the Property), which consists of Silica-based claims in the Bas-Saint-Laurent Region, Quebec, Canada.

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Steadright Critical Minerals Inc

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Comment by cajoneson Feb 12, 2011 10:26pm

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Post# 18124430

RE: RE: RE: RE: RE: RE: RE: possible saving grace

Yes, there is a reason Severstal chose not to close the deal. Severstal backed out solely because Nord Gold postponed their IPO due to the fact they couldn't generate enough interest. Read the news release on the website, which came out the same day as they pulled the plug on this deal. They had six months to do their due diligence - if they didn't like what they saw, they would have pulled out months ago. The company just decided it couldn't justify forking out $65m to buy another company at this point, particularly one that they would have to spend more money on in order to turn it into a producer.

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