Iron Bear Resources (ASX IBR), Research and Coverage

Iron Bear Resources Ltd (ASX: IBR), formerly Cyclone Metals (ASX: CLE). Iron Bear Resources is a development-stage mining company. Its main asset is the Iron Bear project in the Labrador Trough, an iron ore belt in eastern Canada that has been producing iron ore since 1954. The project was formerly called Block 103. The ore there is magnetite, a strongly magnetic iron mineral. Magnetite rock is usually lower in iron than the direct-shipping ore mined in the Pilbara, so it has to be crushed fine and passed through magnetic separators to lift the iron content before it can be sold. The pay-off is that the concentrate that comes out the other end is very high grade, and high-grade concentrate is what the newer direct reduction steel plants need. The company also holds smaller exploration projects in New Zealand, Western Australia and Queensland, covering gold, cobalt and nickel.