Building Shareholder Value from Iron Ore

Exploring Base Metal and Iron Properties in Western Labrador, Central Newfoundland and Northeastern Quebec: Featuring over 5.0 Bt of Iron Ore Resources in the Fermont Property Claim Blocks

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Message: The Company’s monthly “burn rate”...
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The Company’s monthly “burn rate” (excluding discretionary investor relations and travel expenses) is approximately $400,000.

(The MD&A is the responsibility of management and is dated as of July 2, 2013).

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