Announcement • Jul 20
Oceanic Iron Ore Corp. Initiates Updated Environmental and Social Impact Assessment of Hopes Advance Project Oceanic Iron Ore Corp. had announced the resumption of its Environmental & Social Impact Assessment process, by way of commencement of updated environmental baseline studies at the Company’s 100% owned Hopes Advance Project, located in Northern Québec, Canada. The Baseline Studies will comprise comprehensive environmental baseline investigations across the terrestrial, marine, and human environments to support the Environmental & Social Impact Assessment and broader Project permitting. Terrestrial components will include the proposed mine, access road, and airport infrastructure, while marine components will address coastal and offshore conditions associated with the proposed deepwater port. The Company is also in the process of developing an updated engagement plan, which, combined with other ongoing activities, will support project descriptions and future Environmental & Social Impact Assessment submission. Oceanic’s flagship Hopes Advance Project has a NI 43-101 measured and indicated mineral resource of approximately 1.36 billion tonnes at a head grade of 32.1% Fe, and enjoys the distinct advantage of being located at tidewater and not being reliant on third parties for key infrastructure such as port, power and especially bulk transportation to port (negating the need for any rail infrastructure). In December 2019, the Company published the results of a preliminary economic assessment completed in respect of the flagship Hopes Advance project outlining a base case pre-tax NPV8 of USD 2,400 million (post-tax NPV8 of USD 1,400 million) over a 28 year mine life, and a life of mine operating cost of approximately USD 30/tonne, producing a blast furnace concentrate product grading at 66.5% Fe with approximately 4.5% Silica. More recently, the Company has completed preliminary metallurgical testwork that indicates the potential to produce a high-grade, direct reduction Iron product, based on laboratory-scale flotation testing which may be achievable with modest modifications to the existing flowsheet, thereby providing versatility in product choice and contributing to the global green-steel movement. Recent Insider Transactions • May 29
Director recently bought CA$100k worth of stock On the 27th of May, Jeremy Langford bought around 129k shares on-market at roughly CA$0.78 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold CA$271k more in shares than they bought in the last 12 months. 
