BAFFINLAND IRON MINES $0.49 - Toronto symbol BIM

BAFFINLAND IRON MINES $0.49 (Toronto symbol BIM; SI Rating: Start-up) (416-364-8820; www.baffinland.com; Shares outstanding: 255.3 million; Market cap: $123.8 million) is looking for a major partner for its main Mary River iron-ore project on Baffin Island. Baffinland still hopes to start building an open-pit mine at the site next year, and plans to finish it by 2014. It then aims to produce 18 million tonnes of ore per year for over 21 years. Baffinland holds a high cash balance of $26.1 million. Baffinland is a buy for highly aggressive investors.

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