Youtube video about Quebec Iron Ore (Champion), page-5

Perhaps not too optimistic urgold.

What we know is this:

O'Keefe already in talks with potential partners re: funding for Phase 2
Feasibility study to be released soon - August?
A Phase 2, 16mtpa expansion feasibility study was already completed by Consolidated Thompson in 2010
Cliffs moved on this & spent $1.5 billion towards it including a 2nd concentrator

Now have a look at their 2011 Investor Day presentation:

https://www.sec.gov/Archives/edgar/data/764065/000119312511175231/dex991.htm

On page 56 you can see that it shows a timeframe of 2 years between output of 8mtpa & 16mtpa

Thanks to Cliffs we are already half way, so as soon as funding in place (perhaps late this year) then Phase 2 build should only need one year.

Phase 2 commissioning could be Q4 2019 with some initial production to add to next years Phase 1 production of 7.4 mtpa.

If so then CIA production for 2020 likely to be the full 16mtpa.

Looking again at page 56 then after another 2 years & some $600 million or so further Capex, we should see Phase 3 commissioning by late 2021 for a full output of 24mtpa by 2022.

CIA will implement the intended expansion plans of both Consolidated Thompson & Cliffs for Bloom Lake & they will do it efficiently & on time just as they have demonstrated for Phase 1.

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