another 80 mill very close - mcc

Found this under projects under consideration in the current edition of WA Depart of mines and petroleum magazine....

I expect(as Tony sage has said all along) that they will get a mining lease in august and we will get our 80 mill.

this is approx 13 cents per share - no wonder TS has been buying big lately! wish i had some funds to get in to CFE, anywhere under 50 cents (even after divi) will prove to be an absolute steal.


Pilbara - MCC Cape Lambert Iron Ore Project
MCC Mining (Western Australia ) Pty Ltd
MCC Australia Holding Pty Ltd (MCCAH Pty Ltd) is
developing a 15Mtpa iron ore (magnetite) concentrate
project at Cape Lambert and aims to ship its first ore
by mid-2013. The Project comprises a proven JORC
compliant 1.9bt iron ore resource and exploration
licences covering 369 square kilometres. The Project
would consist of a beneficiation plant (A$1b), 300MW
power plant, a port for exporting concentrate (A$1b)
and other related infrastructure. A feasibility study
and ongoing environmental and social studies are
being conducted by consultancy companies GHD and
GRD Minproc on behalf of MCC. GHD is currently
preparing a draft Public Environmental Review
document. A heritage agreement with the Gnarluma
Aboriginal people was signed in January 2010 and the
company commenced formal negotiations under the
Native Title Act in March 2010.
Expenditure: $3.7b.
Employment: Construction: 3000; Operation: 1000