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Oceanic Iron Ore Corp V.FEO

Alternate Symbol(s):  FEOVF

Oceanic Iron Ore Corp. is a Canada-based exploration-stage company. The Company is engaged in the acquisition and exploration of iron ore properties in Quebec, Canada. The Company is focused on the development of the Ungava Bay iron properties in Nunavik, Quebec. The properties comprise three project areas: Hopes Advance, Morgan Lake, and Roberts Lake. The properties cover over approximately 36,039 hectares of iron ore formation and are located within 20-50 kilometer of tidewater. These properties comprise approximately 3,703 claims which are located over 1,568 square kilometers along the northern extension of the Labrador Trough in the Nunavik Region of northern Quebec. The projects cover over 300 kilometers of iron formation.


TSXV:FEO - Post by User

Bullboard Posts
Comment by Drillheadedon Feb 17, 2017 10:32am
123 Views
Post# 25860712

RE:Market takes no prisoners

RE:Market takes no prisonersWe can take comfort in that we have one of the best management team around. They have all done this before and know how to negotiate a deal. They cut their salaries to preserve cash when it was required. They all have a skin in the game and with a total of 70% insider ownership this will prevent a hostile takeover. IMO 50 mill mentioned here will not be enough - nowhere near... they have so fare put 30-40 mill in the project and spend years proving up the reserves etc. so to suggest they will be happy with 50 mill is laughable. According to Gorman the tiny market cap is not an advantage or disadvantage in regards to their negotiations with Power China which suggest to me they have a specific number in mind. That said I do not think we will see a total buyout but who knows? MD, it's correct I hold shares at 1.25 but I have averaged down so even at 1$ I'll make a good chunk of money. No worries ;)
Bullboard Posts