Eric and David Coffin were promoting Champion at the Vancouver show. As follows:
Champion Minerals Inc. is a Canadian-based iron ore exploration and development company with properties located in the heart of Canada’s premier iron ore mining district, the Labrador Trough. Champion Minerals is one of the largest landholders of highly prospective iron ore claims located southwest of Fermont, Quebec and northeast of Schefferville. The company’s portfolio includes the flagship Fire Lake North Project, which contains over one billion tonnes of total iron resources in Measured, Indicated and Inferred categories. In November 2011, Champion released the results of an updated Preliminary Economic Assessment (PEA) on the Fire Lake North Project, further confirming the technical parameters and positive economics. The project demonstrates a US$4 billion net present value at an 8% discount rate, which is based on an annual concentrate production of 8.7 million tonnes grading 65% iron for the first 25 years of the 40-year mine life. The study also shows an internal rate of return of 41.5% and a payback period of 2.3 years. In addition, the company’s Bellechasse and Harvey-Tuttle projects contain approximately 1.2 billion tonnes of total iron resources. The Fermont area is located close to water, power, roads and railways, and connects to three ports on the north shore of the St. Lawrence Seaway.
HRA ADVISORIES – FEATURING CHAMPION MINERALS:
““In Pit” resources at Fire Lake are 833 million tonnes grading 30.1% using a 20% iron cut-off. This is sufficient for an operation of at least 16 million tonnes per year and this scenario will be included in a Feasibility Study that is to get underway immediately. Champion has completed a number of holes at the nearby Oil Can project and should be able to deliver an initial resource estimate in Q1 2012. This resource will also be studied to determine if it can be included in an expanded mine plan at production to generate a still higher output rate.” – December 2011, HRA Journal
“We continue to favour CHM as an asset holder in the iron ore space in expectation that the overall tenor of the Labrador belt’s potential will shift, bringing more buyers to it.” – December 7, 2011 HRA Special Delivery Alert
