Yes Mozz they certainly are ticking the boxes - however this announcement includes the condition that CIA raise an additional $45million through equity. The question is, will it be by private placement or a rights issue? Either way, there will be some more dilution (approx. 11%)
Canadian shareholders (TSXV) may have realised this last Friday as the share price there dropped to 98 cents!
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News: CIA Champion Iron announces USD180 mln debt financing for Bloom Lake iron ore mine, page-3
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