Century Iron Mines Acquires Champion’s Remaining Interest in Attikamagen

Century Iron Mines Corporation (TSX:FER) has agreed to acquire, through a subsidiary, Champion Iron Mines’ remaining interest in the Attikamagen Lake Project. After the transaction, Century will own 100 percent of the project with Labec Century Iron Ore Inc.

As quoted in the press release:

Mr. Sandy Chim, President and CEO of Century commented that “we are very pleased to have concluded this acquisition agreement with our joint venture partner, Champion, to own 100% of the Attikamagen Lake Project. This is a major advancement of the Project following the further $20 million investment in the Project by WISCO announced last week. WISCO has invested a total of $40 million to date to complete its earn-in of its full 40% interest. The Transaction is accretive to the shareholders and to the strategic partners of the Company. Now the Project can be developed more effectively to fruition on a simplified 60/40 basis between Century and WISCO.

Click here for the full press release by Century Iron Mines Corporation (TSX:FER)