TORONTO CONSOLIDATED THOMPSON IRON MINES has acquired all the common share, and hence ownership, of QUINTO MINING, making it a wholly owned subsidiary. Quinto shareholders hold approximately 13.8% of the outstanding Consolidated Thompson shares.
Consolidated Thompson’s main asset is the Bloom Lake iron ore property approximately 400 km north of Set -Iles, Quebec. The Quinto acquisition gives Thompson control of additional iron ore deposits, significantly increasing both resources and exploration growth potential. The company’s measured and indicated resources now total 940 million t grading 29.3% total iron.
See also www.ConsolidatedThompson.com.