Cliffs paid 4.3 BILLION in 2011 for Bloom.

They bought at the top of the iron ore market.

iron ore crashed in price .. ...

Bloom was sold to Champion iron ore mine for 10.5million plus an agreed 42.8 million of liabilities assumed.

Quite the bargain.

Now that fortunes are turning for steel...iron ore has started moving up again.

RCF is a shareholder at Champion Iron ore mines...

"Resource Capital Fund VI LP (“RCF VI”) who invested C$6.453 million by subscribing for 40,331,250 shares at C$0.16 per share, representing approximately 10.45% of the current issued and outstanding ordinary shares and 9.50% of the issued and outstanding ordinary shares on a fully diluted basis"

Fancamp also has over 10.2 million shares of Champion Iron ore mines and Champion iron ore mines has 22 million shares of fancamp.

And RCF is the largest investor in Noront.

All one big happy family.

I believe Champion fits into the bigger picture of the new Ontario stainless steel industry....perfectly.