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A lot of things are going on. After reading and examining everything, there are 3 things on the table.The first is scully, wiil they do it or insist on their modifications ? The second is (which is very possible ) financing through equity and the third less possible option to sell part of some of their properties.Right now all these are viable options including an off-take agr.
I’d like to see the terms modifications fro Scully. Another setback
Here's the excerpt from the november 2022 financial statement / report I am refering to :
"Under the Investment Agreement and the related Asset Acquisition Agreement, the closing Outside Date was initially
agreed as August 31, 2022, and subsequently was extended to September 14, 2022. The proposed transactions
were not completed by Scully by the agreed Outside Date of September 14, 2022 or by the date of this News
Release. Scully has sought modifications to the agreed terms of the Investment Agreement and to the form of the
related Investor Rights Agreement, which modifications have not been agreed to by the Company. The Investment
Agreement may be terminated by notice given by either Party as the Asset Acquisition had not been completed by
the Outside Date.
If Scully does not complete the investment, the Investment Agreement will be terminated and the proposed"
transactions with Scully will not take place. The Company is exploring various financing alternatives, including a
potential private placement of equity.
Hi everyone, I`d like to get comments on new cedar latest report just out today, dated november 14. Looks to me that the initial Scully agreement ( although not officialy terminated) may not go through and private placement may possibly take place. Seems like some unclear modifications were asked by Scully wich were not accepted by the company. Or is it still part of the negociation process...?
The annual meeting was normally in November but this year I assume it was in October with the special meeting. Does someone knows if we will have a annual meeting or October was a fake meeting?
Are they gonna open this Houston project or what?!
It’s been a LONG time since they did that pea, still no off takers announced?
Shameful on leadership to fail on delivering on this to this point!!!!!!!
Not sure why, but Trading economics changed their forecast on the price of iron ore in 12 months from $77 to $101. If they are right, that is outstanding news.
Trading Economics
Have faith and be patient.
"Labrador Iron Mines Holdings Limited announced that it has received CAD 5.2256 million in funding from Scully Royalty Ltd.
On July 6, 2022, Labrador Iron Mines Holdings Limited closed the transaction. The company amended the terms of the transaction. The company issued CAD 3,919,200 ($3 million) in equity and CAD 1,306,400 ($1 million) in convertible credit facility for aggregate gross proceeds of CAD 5,225,600 ($4 million).
The company raised equity from Scully Royalty Ltd. against a 7.4% stake. As part of the transaction, Samuel Morrow of Scully Royalty Ltd. will join the company's board of directors."
Ameritrade doesn't charge the foreign security fee for Canadian stocks.
Might want to consider removing the F from the ticker as fees have increased from some brokers for foreign stock transactions
Hope you are right and the price for selling iron is not that low 85 a ton
Dan, here's another possible way to look at the Tata Steel shutdown. The news article I read said it was a long time coming due to difficulties with the dome and equipment. Neither would necessarily apply to LBRMF. Moerover, there may be a sudden glut of skilled labor in the area, which someone like Kearny might have anticipated.
All just conjecture and in my non-professional opinion.
With tatasteel stopping iron mine today in Schefferville I do not see anymore Lbrmf opening the cost to produce is too high this is the end teak Kerneay keep on sleeping
I assume I'm speaking for some here, but yes, it is about being focused on our investment, and also wondering if there is focus on opening the Houston project.
It was nearly two years ago that we were being presented with visuals of tree-cleared areas for gravel roads, established rail to port, and talk of off-take agreements. We were told at the time "18 months" in vague terms. 18 months have come and gone, and we were told that a $4 million placement was made, and we'll come back in a year to consider more studies. But, in the meantime, a "meeting" in October was to take place. Well, as a shareholder, I'm wondering what the meeting minutes show? Since the "meeting", the share price is bleeding out.
Add to it, winter is here, and we all know there is nothing being constructed anytime soon. And, global economic conditions deteriorating... I just don't see it anymore.
That is exactly what is happening, if nothing happens by spring, then I will be worried.
Yes, its frustrating, because it is all about that money money money thing.
Do you think anyone really cares about what it takes to get this Houston project off the ground...No...they are just focused on their investment and the money.
My feeling is they are preparing something big but they want to remain confidential till it is done
Not sure why they haven’t provided any updates to shareholders in over 3 months. I view that as being unprofessional and completely non-transparent. This leadership team has made it clear that they can care less about shareholder value because that pea feels like light years ago and still no update on off take progress or project progress. #Shameful
I'm starting to regret the money invested. Hoping things do turn around.
Continually saying "studies and permitting" = carrot on a stick
They also had a PEA around the same time as LBRMF. So, a lot of 'assessment' already, but more 'studies' needed.
he is the link for Anglesey news but nothing about lbrmf https://mailchi.mp/d32fbe7acfcc/agm-statement
Like some on this board, I have what I feel is a respectable amount of money invested in this company. Red flags are certainly starting to wave very clearly. I've listened to old interviews with JK, and done plenty of reading on him and the company, and have been impressed with the potential.
BUT, this carrot on a stick is getting old... and the continual lack of communication, especially silence on a annual meeting, is concerning. There is a similar pattern over at Anglesey (AYM), and their shareholders are expressing similar concern.
There was no volume. Investors had a strategy. Buy and hold for big news or sell and wait. They’re just following their original strategy. It’ll be at 10 or 11 again by end of the week
Someone knows something ? It is going down a lot today?
At .09 bought a couple more thousands
Where are those folks from about two years ago that said Kearney was such a great CEO? Your thoughts now?
So, if shareholders don't know what happened at the 'meeting', did it even happen?
Don't be a pessimist Dan, Houston will open, and Scully didn't invest 5 mill for nothing
Well then I’m buying more shares Monday
The mine will not open and whoever lent the 5 millions will buy the bankruptcy for pennies and us will be ejected with 0 money
Will we learn about the meeting in the company’s first pr?
What happened to the meeting? Nothing?
lol could also mean NYSE or Toronto Stock Exchange takes a missile. Rather not play that game.
World war 3 would increase iron demand
The whole world needs iron ore, i remember through all these years predictions that will go 70 bucks in one year and then the next year was 160.All these people who predict the price of iron ore this year or next year remind me the messiah's of WW3 in real estate in Toronto.More than 20 years now i hear predictions , about the bubble,.... now..it will burst, next year it will burst but all these years real estate went up more than 150%. No matter what, stable prices between 85 and 100,will be very profitable for LIM, don't worry.Good days are ahead of us
If it is true Kearny is the worst ceo never ever seen he was sleeping when the price was at $200. A ton and now he wakes up at 80 a ton
I just bought 111
No volume, weird, might be halted for news pending on meeting
$LBRMF: Going back to Gerald Groups buyin price !
http://www.labradorironmines.ca/pdf/LIMH%20News%20Release%20-%20June%2030%2C%202022%20Results%20-%20FINAL.pdf
GO $LBRMF
Nice, Thanks for the info, going to put funds in place for that date, maybe double up the investment and ride the rest.
Oct 20
Labrador Iron Mines Holdings Limited
Date: August 11, 2022
To: All Canadian Securities Regulatory Authorities
Subject: LABRADOR IRON MINES HOLDINGS LIMITED
Dear Sir/Madam:
We advise of the following with respect to the upcoming Meeting of Security Holders for the subject Issuer:
Meeting Type:
Record Date for Notice of Meeting:
Record Date for Voting (if applicable):
Beneficial Ownership Determination Date:
Meeting Date:
Meeting Location (if available):
Issuer sending proxy related materials directly to NOBO: Issuer paying for delivery to OBO:
Notice and Access (NAA) Requirements:
NAA for Beneficial Holders
Beneficial Holders Stratification Criteria:
NAA for Registered Holders
Registered Holders Stratification Criteria:
Voting Security Details: Description
COMMON SHARES
Sincerely,
Labrador Iron Mines Holdings Limited
“John F. Kearney” Chairman
Annual and Special Meeting September 2, 2022 September 2, 2022 September 2, 2022 October 20, 2022 Toronto, ON
Yes No
Yes
Not Applicable Yes
Not Applicable
CUSIP Number ISIN
505435107 CA5054351070
55 UNIVERSITY AVENUE, SUITE 1805, TORONTO, ONTARIO, CANADA M5J 2H7 Telephone: 647-728-4106 Facsimile: 416-368-5344
Email: info@labradorironmines.ca Website: www.labradorironmines.ca
Apparently, Oct 21 is the date I think.....
People loading up in advance of the call? Low risk high reward to load right now at these prices. Anything 12 and under is almost no risk depending on how long someone plans to hold for.
What happened today 230k shares sold?
Meeting Type: Annual and Special Meeting
Record Date for Notice of Meeting: September 2, 2022
Record Date for Voting (if applicable): September 2, 2022
Beneficial Ownership Determination Date: September 2, 2022
Meeting Date: October 20, 2022
Meeting Location (if available): Toronto, ON
Issuer sending proxy related materials directly to NOBO: Yes
Issuer paying for delivery to OBO: No
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PUBLISH DATE | TITLE | PERIOD END DATE |
---|---|---|
11/12/2021 | Quarterly Report - Disclosure Statement | 09/30/2021 |
11/12/2021 | Quarterly Report - Management's Discussion & Analysis | 09/30/2021 |
11/12/2021 | Quarterly Report - Financial Statements | 09/30/2021 |
08/13/2021 | Quarterly Report - Disclosure Statement | 06/30/2021 |
08/13/2021 | Quarterly Report - Management's Discussion & Analysis | 06/30/2021 |
08/13/2021 | Quarterly Report - Financial Statements | 06/30/2021 |
06/30/2021 | Annual Report - Disclosure Statement (Amended) | 03/31/2021 |
06/29/2021 | Annual Report - Management's Discussion & Analysis | 03/31/2021 |
06/29/2021 | Annual Report - Financial Statements | 03/31/2021 |
02/12/2021 | Quarterly Report - Disclosure Statement | 12/31/2020 |
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