Century Iron Mines Gets Second $20M Investment from WISCO

Iron Investing

Century Iron Mines (TSX:FER) announced today that WISCO International completed its second $20 million equity investment in the Attikamagen project, a joint venture between Century and WISCO.

The investment means that WISCO now owns a 40 percent voting and equity interest in Labec Century Iron Ore, which has a 56 percent interest in Attikamagen.

As quoted in the market news:

Sandy Chim, President and CEO of Century, commented that “The completion of the earn-in of the full 40% interest by WISCO represents an achievement of a key milestone in the development of the Attikamagen Project and completes the structure designed to advance the project in a way that will enhance the chance of its success in terms of capital funding and product sale. The Joyce Lake Deposit of the Attikamagen Project is the most advanced project within the Attikamagen Project with a preliminary economic assessment study report issued on May 8, 2013. This closing further confirms our partner’s confidence and commitment to the joint venture.”

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