another article on cdg in sat's west aust.

With an all-star board, including FMG founders Russell Scrimshaw and Jim Williams, Cleveland Mining (ASX:CDG) has been one of the best-performing resource companies this year.

The company closed an agreement to buy a potentially significant iron ore project in Brazil earlier this month and raised $10.3 million through the sale of a 6 per cent stake in the subsidiary holding the project to Chinese steel group Xinji Aosen Steel - bizarrely giving the subsidiary a greater value than even its listed parent.

Cleveland is also expected to finish construction work at its Premier gold project in Brazil shortly, with initial gold production expected in the coming quarter.