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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

Post by Swl1896on Feb 24, 2021 8:31pm
161 Views
Post# 32654568

No analysts to give their opinion so...

No analysts to give their opinion so...I think this is somewhat positive.  The offering of this small amount of debentures is meeting the company's basic requirements so they are trying to minimize dilution.  It gives the indication to companies that may be interested in taking over FEO that the current owners have deep pockets and can kick this can down the road for a looong time.  Bottom line ... bummer that a deal has not been done but these guys are a long way from giving up.  Hold on to your shares, buy on the dips, potential for a big payoff someday (don't be in a rush though so be prepared to feel some frustration at times - I know I do).
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