Grand River Ironsands Incorporated (GRI) is a privately held Canadian company, owning 60% of NAIC.
GRI also owns Forks Specialty Metals - the testing facility for all of NAIC's demonstration level smelting campaigns in the United States.
GRI's largest shareholder, Metalo Manufacturing Inc., trades on the CSE under the ticker 'MMI' and has been listed on the CSE's Composite Index. MMI owns just over 40% of GRI.
For more information on GRI, please visit their website at www.ironsands.ca .
Petmin of South Africa committed to investing US$25 million into the project for a 40% interest in NAIC.
They have fulfilled their US$25 million investment with their final investment rounds valuing NAIC at US$80M.
Petmin is South Africa's largest anthracite coal miner and they trade on the JSE under the ticker PET.
For more information on Petmin, please visit their website at www.petmin.co.za .