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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 helpline88on Feb 03, 2023 2:44am
340 Views
Post# 35264078

Housekeeping

HousekeepingI see they are issuing shares to settle debt. Making the balance sheet look better. Also looks like they could be issuing shares instead of taking cash for the accrued interest on their convertible debentures. Why not, high interest and cheap shares. But this saves some of the company's meager working capital. Also I wonder who's best interest do they have when they do this when the share price is way below the underling value of the project. Not us little shareholders. But other than the dilution maybe this is a good sign. It's something from a company that usually does nothing. 
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