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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
Post by helpline88on Oct 05, 2018 7:12pm
50 Views
Post# 28755983

Cash

CashAt the end of March the Company had approximately $330,000 cash and at the end of June the Company had approximately $200,000 in cash. A drop of $130,000 or a little over $40,000 a month. Another three months have passed so using the $40,000 a month burn rate the company would have about $80,000 at the end of September. They might make it to the end of the year but not much beyond that. It is getting to the point where they are going to have to do something. It will be interesting to see who if anyone is willing to make an investment in this company. Do or die time coming.   
Bullboard Posts