RIMCapital,soon to be Cabral Resources, has just completed a $25...

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!