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!
put this one on your watch list!
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