RIMCapital,soon to be Cabral Resources, has just completed a $25 million equity placement with global institutions to commence exploration on 9 magnetite iron ore tenements acquired in Bahia, Brazil. The initial estimate indicates a potential target of 644Mt quality medium to coarse grained magnitite. The cost to secure the 9 tenements,A$7.2 million. The sweet part of this deal is the Brazilian Govt. is building an East West rail line directly through Cabral's tenements to a new deep water port in Ilheus, Bahia. Combine this with RMC's close link to top tier Chinese partners, 50% equity interest in JV company China Railway Materials Commercial Corporation (large state owned Chinese enterprise). As always DYOR, but it's looking pretty good to me!
RMC Price at posting:
24.0¢ Sentiment: LT Buy Disclosure: Held
