Winston Calvert Client Announces Acquisition of Iron Ore and Rare Earth Elements Mine

Client MFC Industrial announced that it and Alberici Constructors had purchased an iron ore and rare earth elements mine in Missouri.  The company's press release explains that the mine contains"approximately 58.5 million short tons of ore previously mined, estimated an in situ measured iron resource in all categories of mineralized material, except the breccia pipes located on the property, of 94.1 million short tons averaging an estimated 58.0% total iron, including 50.8% magnetic iron (almost all as the mineral magnetite), an indicated iron resource of 94.1 million short tons averaging an estimated 58.9% total iron, including 51.9% magnetic iron and an inferred iron resource of 54.9 million short tons averaging an estimated 55.9% total iron, including 40.6% magnetic iron."   Winston Calvert, Richard Scherrer, David Going and colleagues at Armstrong Teasdale LLP represented MFC and Alberici in the litigation that preceded the acquisition and in acquiring the mine.