Pacific Iron Ore is a start-up iron ore mining opportunity with potential for significant reserves, located in a jurisdiction – British Columbia, Canada – with a stable legal, political and employment environment. The principal mining opportunity, the Pearson Project, is strategically located with a number of viable shipping opportunities.
Pacific Iron Ore’s Board of Directors and management team consider the Corporation’s assets to represent a substantial upside opportunity for investors. The Corporation’s combined team of directors and senior management have broad business experience, including in the areas of mining exploration, raising capital, financial transactions, corporate governance and value-creating events.
The Company’s projects should be considered early-stage, high-risk ventures. All of the mining prospects are significantly short of being ready to operate or construct. There are no reserve estimates meeting the standards of NI 43-101. As of late 2008, the Company’s main focus was continued exploration with the goal to establish an iron ore reserve base on its principal prospect, the Pearson Project. If this proves successful, numerous additional phases would follow: mine plans, environmental impact studies, fulfillment of permitting requirements, negotiating agreements with First Nations with respect to their approval and involvement, making shipping arrangements, finding customers and constructing the mine and associated infrastructure. Substantial additional capital would need to be raised to fulfill these objectives.