Titan Iron Ore Corp. (OTCQB:TFER) announced it is changing its immediate corporate development focus to the Iron Mountain deposit in Wyoming.
As quoted in the press release:
Titan’s management has shifted the emphasis to Iron Mountain, instead of the larger Strong Creek deposit where it conducted a limited drill program in 2011, to maximize its opportunities for nearer-term production and cash flow opportunities. The Iron Mountain deposit has an existing open pit with past production, information from approximately 100 historical drillholes, and arguably a considerably shorter timeframe to complete feasibility-level work, and a much quicker path to production than Strong Creek. The Company believes that this approach will position it much more favorably for obtaining financing in the current market for junior mining companies.