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Chibougamau Independent Mines ( (TSE:CBG) ) has shared an update.
Chibougamau Independent Mines Inc. has announced progress on the Mont Sorcier Iron/Vanadium project, with Cerrado Gold Inc. conducting detailed metallurgical test work and flow sheet design. An infill drill program has commenced to update resources to the Proven and Probable categories, supporting the feasibility study. The project aims to produce a high-purity DRI grade iron ore concentrate, enhancing its value and supporting the Green Steel transition. The Bankable Feasibility Study will further detail the project’s potential, which was previously valued at US$1.6 billion in a 2022 assessment.
More about Chibougamau Independent Mines
Chibougamau Independent Mines Inc. operates in the mining industry, focusing on the extraction and production of iron and vanadium. The company holds a 2% Gross Metal Royalty on iron and vanadium production from the Mont Sorcier property, which is located near Chibougamau, Quebec.
Average Trading Volume: 13,880
Technical Sentiment Signal: Buy
Current Market Cap: C$9.16M
Find detailed analytics on CBG stock on TipRanks’ Stock Analysis page.