Quebec 20 Billion ton Iron ore deposit @ 29% is for Option.

60% ownership of Quebec's largest iron deposit (29% low impurities) was sold to Wuhnan steel in 2012. More than $150 million has been spent on the purchase, exploration and the 2015 NI 43-101 compliant feasibility study.

This deposit is for option usual terms 10% cash, 90% shares plus royalty.

In 2017 Baosteel merged with WISCO.  This mid year Lac Otelnuk Mining JV deemed the "Lac Otelnuk iron deposit" as a non core asset. As of Nov 30 2019, Lac Otelunk Mining had defaulted on its advance royalty obligation. It has 30 days to rectify.

Consequently this iron deposit is available for option if not rectified.

The Quebec government will provide support for the economic development of northern Quebec as part of the 'Plan Nord' economic strategy. More data is found by searching "Quebec plan nord" or "otelnuk" to find the feasibility study.