Baffinland still in strategic partner talks

Dec 10, 2008 | 09:32 AM | Jana Marais

Canadian junior iron ore miner Baffinland Iron Mines Corp. is still talking with potential strategic partners and "remains optimistic" that it will reach a successful agreement.

Toronto-based Baffinland is attempting to raise as much as Canadian $29 million ($23.1 million) in a private placement to investors, but it will need more substantial investments to fully develop its C$4.1-billion ($3.27-billion) Mary River project. The aim of the current fundraising is to improve the company's "current financial hardship" and fund its drilling program at Mary River, north of the Arctic Circle in Nunavut Territory. ....

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