Cliffs Natural Resources then took over Consolidated Thompson in 2011 and acquired Bloom Lake:
Whats interesting in the below press release from 27 July 2011 is that Cliffs then had plans to expand Bloom Lake to not only 16mtpa but further expansion to 24mtpa with a timeline of about 2 years for each expansion:
Cliffs have already spent considerable CAPEX towards the 16mtpa, as has been stated by CIA previously.
It is not unreasonable therefore to assume that CIA could expand Bloom Lake to 16mtpa by 2H 2019 & to 24mtpa by 2021.
Meanwhile an updated feasibility study could be undertaken for Fire Lake North to include the 60kms of railway needed to link FLN to Bloom Lake's railway. A fair bit of CAPEX needed for this mine but with ever increasing income from Bloom Lake, then financing should be forthcoming. I would expect FLN development to be based on the Bloom Lake model - QIO / Quebec Govt partnership.
Needless to say, this company has a bright future - huge resources awaiting development and a CEO who will make it happen!
.
CIA Price at posting:
$1.49 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)