Jim.
CIA operates as an iron mining company and is now trading at 11x times' Forward P/E. In the last few years, growth was healthy as the company de-risked to the production stage. The balance sheet is strong, with a net debt of $183M and a net debt/EBITDA of 0.5x. The company is currently generating meaningful cash flow, which supports dividends and reinvestment quite well. Based on consensus estimates, sales are expected to grow by around 15% in the next two years. Overall, at 12X earnings and a pretty good balance sheet, it is quite cheap given its growth profile. The business of course is cyclical, but we would consider it buyable for those interested in iron ore sector exposure.