Century Iron Mines (TSX:FER) Subject of StockPotentials Report by eResearch Corp - Video Summary of Report Posted on www.investmentpitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, October 25, 2011 - Toronto based eResearch has
issued a StockPotentials report on Century Iron Mines (TSX:FER). StockPotentials
reports cover smaller companies that have little or no following on the Street,
that eResearch believes would be primarily of interest to retail investors.
InvestmentPitch.com has produced a "video news alert" based on this report. If
this link is not enabled, please visit www.investmentpitch.com and enter
"Century Iron" in the search box.
Century Iron Mines trades on the Toronto Stock Exchange, under the symbol FER,
having graduated from the TSX Venture Exchange last month.
The company has four iron ore properties, with three in Quebec and one in
Newfoundland and Labrador.
The iron ore industry remains in focus, with the price of iron ore increasing
26% over the last 12 months, on strong Chinese demand. Chinese steelmakers are
diversifying their sources of supply and are assessing Canadian iron ore
companies, similar to Consolidated Thompson Iron Mines, which was acquired by
Cliffs Natural Resources for $5 billion. Consolidated Thompson has operations
located in the Labrador Trough near three Century Iron projects.
Century Iron has two Chinese strategic shareholders, owning 30% of the company,
and off-take agreements for 70% of future production. The company currently has
a 51% interest in the Duncan Lake project in western Quebec. It is an advanced
exploration-stage project covering approximately 13,000 hectares. The company
has an option to increase the interest to 65% by expending $14 million over
2008 to 2013.
The Duncan Lake project has 31 million tonnes in NI 43-101 Measured and
Indicated resources at 23% iron, 821 million tonnes in Inferred resources at
25% iron, and another 500 million tonnes in potential resources. The company is
currently carrying out a shipping study and is partnering with shipping and
engineering companies to develop logistic options for mined iron ore.
The company's three other projects are located in the Schefferville area of the
Labrador Trough, with two on the Quebec side and the third in Labrador. As we
previously mentioned, this area is home to Consolidated Thompson Iron Mines.
The company has $100 million ($1.25 per share), in cash which is earmarked for
acquisition of properties and companies. The shares trade at $2.10 and with
approximately 93 million shares outstanding, the company is capitalized at $195
million.
For more information on the company and their various projects, please visit
their website at www.centuryiron.com, or phone 416-977-3188.
For a copy of the report, contact eResearch at www.eresearch.ca. While on their
site, sign up for their free reports. eResearch does not receive a fee for the
preparation and publication of StockPotentials reports.
InvestmentPitch.com is a multimedia company that provides a combined solution
for creating and hosting financial video content, and distributing it across
multiple platforms to investors and financial professionals.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
bmorgan(at)investmentpitch.com
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Source: InvestmentPitch via Thomson Reuters ONE
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Datum: 26.10.2011 - 00:15 Uhr
Sprache: Deutsch
News-ID 80209
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