Finding New Solutions for Old Problems
Formed in 1996 as Pacific Harbour Capital Ltd., Oceanic Iron Ore Corp. is headquartered in Vancouver, British Columbia. They are still technically in the exploration stage of many endeavors; however, they have managed to generate considerable interest in new technology and operations strategies designed to lower the operating costs of mining iron from the earth.
Creating “Hope” for Iron Mining
Among other properties, Oceanic Iron Ore Corp. is developing a project called “Hopes Advance” in Quebec. Unlike most iron ore mining initiatives, this project does not require rail lines for transportation of the product. This sets the stage for much lower operating costs for mining iron in Canada. The major task that remains is securing funding for the project, and Oceanic is well on their way.
The company has put considerable resources into researching and developing the engineering and practical infrastructure for such an initiative. The goal is to reduce operating costs by such a significant margin that the profits generated by iron mining become astronomical compared to the expenses incurred in bringing it to the surface. In a video created about the Hopes Advance project, Oceanic’s President and Chief Executive Officer (former COO) Alan Gorman says, “The project, in my mind, was and remains to be the best undeveloped iron ore project in Canada.” He goes on to emphasize the importance of developing projects that endure over time rather than fizzling out.
Checking Off the Pre-Feasibility Study
As recently as 2012, Oceanic solicited a pre-feasibility study from Micon International Limited to determine whether the Hopes Project, which is fully owned by Oceanic, could meet the projected revenue and resource expectations.
The results were encouraging, and the next step is to secure a strategic partner for funding. Executive Chairman Steven Dean points to fellow iron ore mining companies who have secured funding for their own similar initiatives, and whose market values have grown considerably as a result of those partnerships.
Chasing Increased Revenue
With possession of iron ore producing land, Oceanic stands to generate considerable revenue once their production begins in 2017. The owners of the actual iron ore stand to make the most money in the industry pipeline, which means greater returns on investment for both the company and its investors.
Oceanic is focused on the development of the Ungava Bay iron properties. These properties comprise 3,703 claims over three project areas, namely Hopes Advance, Morgan Lake and Roberts Lake, which are located over 1,568 km2 along the northern extension of the Labrador Trough in the Nunavik Region of northern Quebec. The projects cover over 300 kilometres of iron formation and all the deposits are located within 20 – 50 km of tidewater.
OCEANIC IRON ORE CORP HQ
595 Burrard Street
Vancouver, BC V7X 1L3
Phone 604-566-9080
Fax 604-566-9081
Website – https://oceanicironore.com/
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