Record quarterly production of 2.9 million wmt, adjusted EPS1 from $0.06 and EBITDA1 from $84.3 million; Bloom Lake Phase II Expansion ramps up as planned, helping to lower operating expense metrics; Declares a dividend of $0.10 per common share
MONTREAL, October 26, 2022 /CNW/ – Champion Iron Limited CIA CIA CIAF (“Champion” or the “Company”) is pleased to report operating and financial results for the just ended second fiscal quarter 09/30/2022.
Conference call details
Champion will host a conference call and webcast on October 27, 2022 8:30 AM (Montreal time) / 11:30 p.m. (Sydney time) to discuss results for the second quarter ended September 30, 2022. Details of the conference call can be found at the end of this press release.
Champion’s CEO, Mr. David Katafordsaid: “Our record production is due to the hard work and dedication of our team as Phase II continues as planned despite the challenging environment. As a result, our iron ore volumes sold in the quarter increased nearly 43% year over year. With Phase II on track to reach commercial production by the end of the calendar year, the higher production levels are also helping to normalize our operating costs per tonne sold. Additionally, our team is completing the feasibility study to evaluate production of a Direct Reduction (“DR”) pellet feed product, which will form the basis of our potential transition to higher value products in the green steel supply chain.”
1. Highlights
sustainability
- No major environmental issues reported during the period;
- Partnering with Innu Takuaikan Uashat Mak Mani-Utenam and Comité sectoriel de main d’oeuvre de l’industrie des mines to implement training programs aimed at increasing collaboration between Innu partners and Champion;
- On the National Day for Truth and Reconciliation, workshops and commemorations were organized aimed at introducing Champion employees to Innu culture 09/30/2022how…
