Bullboard - Stock Discussion Forum Oceanic Iron Ore Corp FEOVF

Primary Symbol: V.FEO

Steel Steel

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... see more

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TSXV:FEO - Post Discussion

Oceanic Iron Ore Corp > Financial statements

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Post by helpline88 on Sep 04, 2024 4:45pm

Financial statements

I 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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