RE:RE:RE:RE:Question is?That should be 99,152,383 shares..
What will be interesting is the next placement price and how much it is raised at.
The $55 MM has been raised via multiple placements/// Looks like the average price of .55 / share.
What will be interesting is what is the pice of the next Blackrock placement as that will dictate the opening price of the consolidated CXE shares... I bet it will open in the $1.00+ range, otherwise they will have dificulty raising the required funds to develop the project without massive dilution. ( as per my previous post)
BlackRock to Invest $100 Million in Grande-Anse
(ALMA) Montréal mining company BlackRock Metals announced a more than $720-million project, $100 million of which will be invested in port facilities in Saguenay
BlackRock President Jean Rainville revealed his company’s plans in Alma as part of the 2013 forum on northern development. The company intends to mine a major iron deposit in the Chibougamau area.
The ore extracted will be destined for the Asian market, which explains the need for a deep-water port. Management at BlackRock Metals—an entity comprising 30% Québec interests and 70% foreign capital—finally selected the port in Grande-Anse.
Jean Rainville said that some $55 million has been invested in the project since the founding of BlackRock Metals in 2008.
In the Montréal company’s estimation, northern Québec is one of the most mineral-rich areas in the world. BlackRock Metals expects to extract three million tons of iron concentrate as a result of the construction announced in Alma. It hopes to begin operations in mid-2015.
Source: Le Quotidien (March 15, 2013)