How Big Is Big Enough?
Cap-Ex Could Be Canada’s Next Major Iron Ore Player
By Ted Niles

Brian Penney has no doubt Cap-Ex Ventures TSXV:CEV will be the company to take the Block 103 iron property to production. Indeed it is for this very purpose that the Chairman of Operations was brought to the project in December 2011—when Cap-Ex entered into a management agreement with merchant bank Forbes & Manhattan. An alumnus of the Iron Ore Company of Canada (a subsidiary of Rio Tinto), Penney says, “That’s the expertise I bring to this picture.”

Penney continues, “I’m a metallurgist, and my whole career has been on the operating side of iron ore rather than the exploration side. That’s one of the reasons why Cap-Ex joined with Forbes & Manhattan. I am myself a Forbes employee. We understand the blueprint in terms of removing the risk to allow us to get to production, and that’s what we’re here to do.”

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