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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 Sep 04, 2024 4:45pm
204 Views
Post# 36208731

Financial statements

Financial statementsI was checking out the Financial statements to June 30/24. Current liablitiues are over $7 million including $5.9 million in concertible debentures. The company has at June 30/24 about $150,000 in cash, probably not enough to last the year. So they are back in a cash crunch, needing to raise more cash. I am thinking some more significant dilution. And there are the Royalty holders to take care of. More dilution. We small shareholders are getting smaller and smaller. 
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