CIA working under cover, page-9

I've been trading in and out of this stock since the low 20s. I bought back on the dip in the Canadian shares a couple days ago.

It appears the Quebec govt is close to publishing a feasibility study on a multi-user rail which will lower operating costs for CIA and other Labrador Trough developers by roughly $9/t to under C$35/t. With Iron Ore prices hovering around US$80/t and poised to climb further into the US$90s, Fire Lake North will no doubt get the go-ahead.

Too, O'Keeffe was shrewd to have acquired the Bloom Lake complex... as some of you may recall, Cliff's Natural Resources sunk close to $7bln into equipment and developing the infrastructure. CIA bought it all for $10mln. This company should ultimately be valued in the billions.

I also have exposure to CIA via Fancamp Exploration (FNC.V) which owns a 1.5% NSR royalty on all the Fermont assets and owns just over 10 million shares of CIA. Fancamp is trading at the value of its underlying securities with no value given to their own projects nor the 1.5% NSR royalty on CIA Fire Lake North - which could generate over $10mln per annum in revenues. Base metals royalty companies like Altius Minerals (ALS.TO) has been trading at a 12-15x multiple to annual royalty revenues (in a base metals bear market) implying potential valuation of over $130mln for FNC.V. The company's current capitalization is just ~$7mln.