The Globe and Mail reports in its Thursday edition that National Bank's Shane Nagle commenced coverage of Champion Iron and Oceanic Iron Ore with "outperform" ratings. The Globe's David Leeder writes that Mr. Nagle named Champion his "producer of choice despite near-term costs impacts." He set a share target of $5.75 for Champion shares, which is narrowly below the $5.96 average on the Street. He says, "Champion Iron is an established high-grade iron ore producer, with significant value-in-use premiums for the company's DR-feed iron concentrate to be realized as shipments ramp-up throughout H2/26." He targets Oceanic Iron shares at $1.70, falling below the $2 average. Mr. Nagle says in a note: "Oceanic Iron Ore's large-scale, high-grade, Hopes Advance project is distinguished by its coastal location and 'no-rail' development concept. The PEA mine plan evaluates only three of the 10 known iron deposits within the property outlining the potential for further development opportunities, and recent metellurgical test work outlined opportunity for future DR-feed quality production. Oceanic will leverage its experienced board/management team with a strong track record of financing/developing/operating mines in Canada."