Oceanic Iron Ore Corp V.FEO

Dilution

[helpline88]

I am thinking Sino Canada must be concerned with all this dilution. Their 24 million shares keeps getting worth less with each convertible debenture financing. Just like us small shareholders. Sino Canada received their shares 10 years ago with the understanding they could bring in PowerChina to build the Hope Advance project but PowerChina backed out. I think they thought the project to expensive at that time. I think Oceanic is reluctant to move this forward so that Sino Canada would be rewarded for not delivering PowerChina. Like I said earlier Sino Canada's shares just keep getting worth less. I think it is time the two parties get together and resolved this stalemate.

[Shlinker_]

Yes, Sino Canada's ability to trump any future decisions has weined over time. They still might fund the CAPEX necessary however, will have to see. Why buy a lotto ticket, just buy this and wait it out. Eventually something has to give. This management team are proven winners, so stick with it. Accumulate and wait. 

[Drillheaded]

Shlinker, agree with everything that you write. New company presentation is out. They have added a NPV based on spot prices. NPV US$3.7 billion. Our market cap is currently around C$ 20 million. Crazy discount... Admittedly, the slide with share structure is not a pretty sight but at least insiders own nearly 70%. I will wait while accumulating to fend of dilution.

[Shlinker_]

Probably a good idea to buy this. I give it a 50% chance with Chris at the helm. I think they're giving him this one to see it through. Might take another year or two. This last PP was a serious one, enough to get a partner, talk with First Nations, and do some permitting and licensing, and a bit more environmental work. 

[Shlinker_]

And that 70%...does that include Sino Canada? I haven't read the new presentation yet. I will. Not selling a share until they announce a mine plan.