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July 23 (Reuters) - Canaccord Adams upgraded Consolidated Thompson Iron Mines Ltd to "buy" from "speculative buy," saying China's Wuhan Iron and Steel Corp Ltd's $240 million investment in the company removes financing risk for the Bloom Lake iron ore project. The project is now fully financed with the closing of the Wisco deal and the company receiving payments of $200 million, analyst Gary Lampard said in a note. Lampard maintained his price target of C$5.15 on Consolidated Thompson shares, which were up 11 percent at C$4.22 in afternoon trade Thursday on the Toronto Stock Exchange. (Reporting by Amit Kumar in Bangalore; Editing by Vinu Pilakkott) Keywords: CANACCORD/RESEARCH THOMPSON IRON (amit.kumar.edit@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S.
+91 4135 5800; Reuters Messaging: amit.kumar.edit@thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.
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