“When you look at global mining revenues, iron ore is number one out of all commodities. People don’t appreciate that. It’s the basis for all of your infrastructure and steel requirements, there’s no replacement for steel and infrastructure demand isn’t going away,” said CEO and Director Chris Batalha.
Oceanic Iron Ore (TSXV:FEO,OTCQX:FEOVF) is advancing its Hopes Advance iron ore project in Québec’s Labrador Trough, which hosts a measured and indicated resource of 1.36 billion metric tons of iron. The company has updated its baseline environmental data in preparation for an application for environmental and other approvals.
The CEO added that the project’s recent preliminary economic assessment shows an initial capital cost of US$1.2 billion, with production starting at 5 million metric tons per year and expanding to 10 million metric tons after year five over a 28 year mine life.
“Because (we’re at tidewater) and don’t have (the rail) burden, we can start small and therefore limit our capital costs and the amount we would have to raise and expand with operating cashflow later on. That’s the real trick for us," he said.
Watch the full interview with Oceanic Iron Ore CEO Chris Batalha.
With an eye for detail and over a decade of experience covering the mining and metals sector, Charlotte is passionate about bringing investors accurate and insightful information that can help them make informed decisions.
She leads the Investing News Network's video and event coverage, and guides a team of writers reporting on niche investment markets.
Craig Hemke, publisher of TFMetalsReport.com, shares his perspective on recent declines in gold and silver, saying that while prices can still go lower, ultimately the math will work out in favor of precious metals and send them to much higher levels.
"Gold's just gold. It just sits there. What's changing is how many dollars it takes to buy it. What's changing is that devaluation, that loss of purchasing power," he said.
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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
With an eye for detail and over a decade of experience covering the mining and metals sector, Charlotte is passionate about bringing investors accurate and insightful information that can help them make informed decisions.
She leads the Investing News Network's video and event coverage, and guides a team of writers reporting on niche investment markets.
Tavi Costa, CEO of Azuria Capital, weighs in on recent price declines in gold and silver, emphasizing that bottoming is a process that won't happen immediately.
In his view, that setup makes the metals more appealing than copper, which has held onto its gains.
"I think that the catch-up trade for those two commodities is much more attractive," he said.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
With an eye for detail and over a decade of experience covering the mining and metals sector, Charlotte is passionate about bringing investors accurate and insightful information that can help them make informed decisions.
She leads the Investing News Network's video and event coverage, and guides a team of writers reporting on niche investment markets.
Last week silver and gold fell below US$50 per ounce and US$4,000 per ounce, respectively, and Dana Samuelson president of American Gold Exchange, believes the bottom may not yet be in.
Speaking a day before those declines, he said lower prices are an economic signal to watch.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
With an eye for detail and over a decade of experience covering the mining and metals sector, Charlotte is passionate about bringing investors accurate and insightful information that can help them make informed decisions.
She leads the Investing News Network's video and event coverage, and guides a team of writers reporting on niche investment markets.
Private investor and Substack newsletter writer Craig Tindale shares his thoughts on recent and potential future actions from the US Department of the Treasury, explaining their impact on the bond market, national debt and ultimately the gold sector.
"I think we're heading into a very significant change in US treasuries, in gold, in international debt, in the value of the dollar — just about everything we can imagine," he said.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
With an eye for detail and over a decade of experience covering the mining and metals sector, Charlotte is passionate about bringing investors accurate and insightful information that can help them make informed decisions.
She leads the Investing News Network's video and event coverage, and guides a team of writers reporting on niche investment markets.
Chris Vermeulen, chief market strategist at TheTechnicalTraders.com, shares his outlook for gold and silver, saying the precious metals have entered a bear market.
In his view, gold could fall as low as US$3,100 per ounce as this downtrend plays out — however, after that he expects a dramatic turnaround.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
