NML’s opportunity for value creation stems from projects in the historic iron ore region which crosses the provinces of Newfoundland and Labrador and Québec in and around the town of Schefferville, Québec. Here, NML controls the vast Millennium Iron Range (MIR) and is presently active on three projects:
1) Investment in operating direct shipping ore ("DSO") project;
2) Refinement of the feasibility study of two taconite deposits – KéMag in the Province of Québec and LabMag in the Province of Newfoundland and Labrador – called the Taconite Project;
3) Assessing the potential of additional Taconite deposits.
NML has further development potential through its other land holdings, and carried out exploration to evaluate several properties. This work confirmed NML’s NI 43-101 resource holdings through not only LabMag and KéMag, but also other MIR deposits. The Taconite formation occurring here is a stratigraphic continuation of LabMag to KéMag.