09:50 AM EST - New Millennium Iron Corp. : announced today that its board of directors has decided not to fund an equity cash call of $23 million, approved by the Board of Tata Minerals Steel Canada Ltd., to fund certain capital expenses for the DSO and Howse projects operated by TSMC. The cash call will result in a dilution of the Company's interest in TSMC from the current 20%. As per the Joint Venture Agreement, NML has a 20% equity interest in TSMC as a free carry up to a threshold of $300 million for certain capital expenditures specified under the Joint Venture Agreement. New Millennium Iron Corp.
shares T.NML are trading down $0.01 at $0.19.
