Ann: Quarterly Activities Report & Appendix 5B, page-3

Hi Kid21,

A couple of good questions you've asked - I'll attempt an answer:

I am also puzzled as to why it's so quiet here - even the few posters who were here last year have gone quiet!

A few possible reasons are:

1. In the commodities space, Iron Ore doesn't excite the punters - the EV battery stocks do: Lithium, Graphite etc... Copper & Nickel also doing well & then there's lots of chatter on the junior gold forums chasing Novo's Pilbara 'watermelon seed nuggets' dream. Oil & Gas also making a comeback with plenty of loyal FAR followers on HC!

Having said that, Atlas Iron has a decent following, maybe because they are diversifying into Lithium, who knows?

2. Many Aussie investors who are in Iron Ore are likely in the dividend stocks such as RIO & FMG rather than a relative minnow such as CIA who are yet to export their first shipment!

3. CIA perhaps not well known in Australia. It's really a Canadian company that happens to have an ASX listing only because of it's merger with O'Keefe's Mamba minerals a few years ago. CIA's mine/mineral assets are in Canada, it's management are based in Canada, it's shares mostly trade on the TSX and finally, last years Bloom Lake related CR (subscription receipts) was also in Canada.

As for your 2nd question - yes to some extent IMO. The share price did move up from it's $1 - $1.10 trading range early Nov 2017 about the time of confirmation that Bloom Lake would re-start March 2018 and has mostly been trading $1.30 - $1.50 since.

What is not priced in right now, I believe, is the amount of cash flow likely to be generated in the next 12 months due the elevated Iron Ore price for Bloom Lake's product. More on that in next post.