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Trouble ? Expert market
https://www.otcmarkets.com/stock/LBRMF/overview
Trouble ? Expert market
https://www.otcmarkets.com/stock/LBRMF/overview
Goldman Sachs expects iron ore prices to hit US$150
https://www.marketindex.com.au/news/goldman-sachs-expects-iron-ore-prices-to-hit-ususd150-a-tonne-but-buy-rated
Works for me, pieces of the puzzle
Just keep moving forward
Looking for a person who can value Non-capital loss carry-forwards
There has been discussions about the Non-capital loss carry-forwards pages 163-167
http://www.labradorironmines.ca/pdf/LIM%20-%20Amalgamation%20Information%20Memorandum.pdf
My questions :
If mine moves forward how will this affect share price
If mine was to be sold ( as discussed, that other mining companies might have interest in Non-capital loss carry-forwards )
What would be value of mine with Non-capital loss carry-forward
Just covering all scenarios.
The things you need to open mine (share holders of LBRMF)
Construction company to move or update crusher, housing, infrastructure. (Municipal Group of Companies)
https://www.dexter.ca/
Mining equipment and operators. (Municipal Group of Companies)
https://www.municipalgroup.com/our-companies/grey-rock-services/
Railway line (Municipal Group of Companies)
https://www.municipalgroup.com/our-companies/grey-rock-services/
Iron Ore broker ( Gearld Group )
https://www.gerald.com/
Financing ?
Still hoping for 1 surprise other player to be announced as a share holder in Amalgamation of LIM & LIML for puzzle to be complete.
Believe444 is the winner of my question I posted earlier,
A question to all, if you were going to reopen mine
Who would you hire to either move equipment or upgrade
What trades would you need to hire to move equipment, plant to new location?
Just something for you think about or research.
Believe444 response was,
In business, you would want someone you can trust, has a very good track record, and is determined to complete the project from beginning to end.
There is a lot of money involved here, and some people do crazy things when it comes down to money.
Board Member-Ken MacLean, Vice President and General Counsel, Municipal Group of Companies
https://www.dexter.ca/dexter/project/lim-schefferville-project
https://careers.municipalgroup.com/
https://www.municipalgroup.com/
Just my thoughts, I am bullish on LBRMF
Is it all coming together? What we know for sure is this.
First Directors. The number of first directors of Amalco (shall be four (4). The first directors of
Amalco shall be the persons whose names and addresses are set forth below: (Amalco" means the corporation constituted upon the Amalgamation, to be named "LABRADOR IRON MINES LIMITED";) page 48 of AMALGAMATION AGREEMENT
Name Address
John F. Kearney 1805-55 University Avenue,Toronto, Ontario,Canada M5J 2H7
Richard Pinkerton 1805-55 University Avenue,Toronto, Ontario,Canada M5J 2H7
Brendan Lynch One Strand Grand Buildings,Trafalgar Square,London, United Kingdom,WC2N 5HR
Ken MacLean 927 Rocky Lake Drive.Bedford, N.S.,Canada, B4A-3Z2
Toronto, Ontario, Canada, March 30, 2023. Labrador Iron Mines Holdings Limited (the
“Company” or “LIMH”) (OTC Pink: LBRMF) reports the result of the Special Meeting of Shareholders of Labrador Iron Mines Limited (“LIM”) held today.
At the Special Meeting, LIM Shareholders approved by the requisite two thirds majority a special resolution to authorize the Amalgamation of LIM with a wholly owned subsidiary of the Company, involving the issue of shares of the Company to LIM shareholders, such that LIM will, once again, be a wholly owned subsidiary of the Company. Details of the proposed Amalgamation are set out in the News Release of LIMH dated March 17, 2023, available on
the Company’s website. Pursuant to the special resolution, the board of directors of LIM is authorized, in its sole discretion, to determine whether to proceed with the Amalgamation, without further approval of LIM Shareholders.
The board of directors of LIM is now considering the timing for completion of the Amalgamation.
I am waiting to see who has what percent of shares and what final percent held by insiders and what float will be, should be interesting to see may surprise who will have to file.
While we wait for vote. easy listening
Enjoy a long time coming.
Lone I think meant post 7431
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=171549310
Anglesey Mining March 23rd 2023 Presentation by chief executive Jo Battershill
Talks about LBRMF at 5:38 mark
https://www.proactiveinvestors.co.uk/companies/news/1010492/anglesey-mining-plc-aim-aym-presents-at-the-proactive-one2one-investor-forum-march-23rd-2023-1010492.html
Even better case scenario,
Same as before, but they start mining at old location this year and they stock pile ore while they prepare new location to move equipment too.
Best case scenario,
Gerald has huge credit, they partner as offtaker, and broker our iron ore. They make money on the stock, offtake, and selling the ore, or just help in finding missing pieces to get this done with their additional contacts. They were able to work through some unbelievable things to get their mine in Sierra Leone up and running. I can wish. At least another piece of the puzzle.
One more thing If you can access this article, on seeking alpha, the author thinks maybe Champion would also be a fit for our mine. It is in the comment section post recently.
https://seekingalpha.com/article/4401207-higher-iron-ore-prices-offer-potential-for-beaten-up-labrador-iron-mines
https://marampamines.com/
https://www.gerald.com/
Also all of the mine assets now in one package for later to open or sell to others.
Besides the market cap if mine is open, there could be dividends.
I remain bullish
My take similar to yours, I think there is not a lot of downside once company is whole again and hopefully able to move forward with opening.
I honestly do not know if good or bad for us. My believe is if they move forward with opening we should be ok depending on what your cost average is per share . I used it to determine at what price per share would for Gearld now break even and gauge it to determine minimum share price if he sold out. If my math is correct (would appreciate someone who knows if this correct would confirm this), cost payed, $42,047,065 divided by. 119,626,180 shares = $ .35 per share. So if Gearlds cost average is @ 35 cents per share and it is at 8 cents per share now you have to decide for yourself. I cannot image they want a loss and rather a profit. Also remember they always had shares in both companies and now just the one. Why 38%, might tell you they had influence on moving forward. Also, Anglesey, and board members probably had shares that will convert and may be 5%-11% after, will know after fillings.
Gearld shares after Amalgamation will increase.
Can someone confirm my math that after this Gearld will have 119,626,180 shares. That would be 38% of new total. Pages 10-12 would be how I came to this conclusion. If I am wrong, please explain where I went wrong.
( 27,995,890 shares x 3.1136546 = 87,169,531 shares plus 32,456,648 existing shares = 119,626,180 shares in the end or 38%)
3.1136546 LIMH shares for each LIM share held in accordance with the terms of the Amalgamation Agreement, all resulting in the issuance of an aggregate of approximately 148,362,500 LIMH Shares (assuming an aggregate of 99,794,925 LIM Shares issued and outstanding immediately prior to the Effective Date, of which 47,648,991 (47.75%) LIM shares are not already held by LIMH); • The 52,145,934 LIM Shares (52.25%) held by LIMH will be cancelled.
Mining Development LLC holds 27,995,890 LIM Shares, representing 28.05% of the issued shares of LIM, and also holds 32,456,648 LIMH Shares, representing 19.99% of the issued shares of LIMH, which holding and percentage in LIMH will increase as a result of the Amalgamation.
http://www.labradorironmines.ca//pdf/LIM%20-%20Amalgamation%20Information%20Memorandum.pdf
Voting (page 9)
Only shareholders of LIM of record at the close of business on March 16, 2023 will be entitled to vote at the Meeting. If you wish to vote at the Meeting but are unable to attend the Meeting in person, you are entitled to request a proxy by contacting LIM by email at info@LabradorIronMines.ca to make arrangements for alternate or proxy voting. A proxyholder need not be a LIM Shareholder.
http://www.labradorironmines.ca//pdf/LIM%20-%20Amalgamation%20Information%20Memorandum.pdf
Sorry guys probably my fault about shares, I was referencing a discussion a while back about share price and possibility of up list and would they want less shares. I should have reference that to up list where it is sometimes beneficial. My Bad
Looks like someone has gotten him mad, who could it be.
When everyone is telling you it's a bad stock and you do not listen
Some of my short term concerns: What will the market think about the price of stock after merger. The company was always 52% / 48% ownership. But outstanding shares that were able to be traded will change, previous 162,364,427 shares. Now all assets are one, but now LIM shares are listed.
Same assets, same owners, but what will the market value be of company (market cap) in short term before opening or financing.
Existing LIMH Shareholders 162,364,427 52.25%
Former LIM Shareholders 148,362,500 47.75%
New Total 310,726,927 100%
Questions, why did we wait to do this. (Like others just stated). We now are dealing with higher interest rates, cutting into future earnings. After doing this do they think a RS is in the future, or are we ok with the 310 million outstanding. How does this affect financing. Are they going to uplist again and try to sell more shares or private financing. Is there an interested party in financing. Do they see this getting done sooner and when. Would like to know what Gerald thinks about this, they paid over $1 for their shares. I would think after voting you would be able to tell how they voted.
Hoping they have a plan, and it will become clear as time goes on.
LJ, looks like you are not the only one they hate around the UNQL water closet.. It almost looks like they are begging him to change his mind, I think he said he lost 50% of his investment before he got out. Why would they think he would change his mind after that. Good luck all.
Labrador Iron Mines (OTCPK:LBRMF) to acquire minority interest in Labrador Iron Mines Ltd.
https://themarketherald.ca/labrador-iron-mines-holdings-limited-announces-proposed-acquisition-of-minority-interest-in-labrador-iron-mines-limited-2023-03-17/
For further information, please visit LIM's website at www.labradorironmines.ca or contact:
John F. Kearney
Chairman and Chief Executive Officer
Tel: (647) 728-4105
Richard Pinkerton
Chief Financial Officer
Tel: (647) 728-4104
News Labrador Iron Mines Holdings Limited Announces Proposed Acquisition of Minority Interest in Labrador Iron Mines Limited
https://www.newsfilecorp.com/release/158814
$UNQL IN CASE YOU MISSED IT. 41.50 minute mark watch it, decide for yourself.
https://twitter.com/peter_penny1/status/1636685420439425026
I would think financing investors would rather have their money invested here rather than a savings account, how long will they keep bailing out over 250k depositors, not long. On another note, Scully's stock has been beaten down, wonder if they would like to come take another look at a great place to park their cash. We would love to hear from you again Scully. Also open to other board members and large shareholders proposing alternative financing. Get it done, now would be nice.
I think that this will have to move forward or be sold within 12 months. They need almost 1 million just to keep lights on, but with 6-10 million you get a turnkey operation. If you were borrowing LBRMF money what looks better, I would think the turnkey operation if you need to collect or sell. Now go find us some money LBRMF
I was just thinking similar, but different. If they do not open Houston, they will not open others unless local government financing or investors. Houston is a low-risk operation with minimal costs to open with permitting done. If this is a look here, now look there I believe we will know within months because we will need short term financing very soon and that should give more insight to what is going on unless Kearney keeps borrowing money to LBRMF which he has not done for others. I would hope to see a proposal for funding to either cover moving plant and railway to new location to make this a true turnkey operation. 6-10 million might cover that and operating expenses while getting that done. We do not need whole 60 million to move forward. But I could be wrong, and this is just a way for board to get their salaries without really doing anything. If there is a look here, now look there, I think it is with Anglesey 2 mines, they have been bleeding out for years, we are already at pennys.
I personally believe they need to bring some youth to board with experience in recent mining operations in the area with connections to financing and commodity traders. Again it would be nice to see something on website updated just to let people know they are there.
Anglesey Mining bolsters Grängesberg re-start plan with pumped hydro-energy storage potential
https://im-mining.com/2023/03/14/anglesey-mining-bolsters-grangesberg-re-start-plan-with-pumped-hydro-energy-storage-potential/
ANGLESEY MINING PLC - Hydro-Storage Options to be studied for Grängesberg
https://uk.finance.yahoo.com/news/anglesey-mining-plc-hydro-storage-104300474.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAFRer54_hpd7vjKpCx4b6FBPG6TQDnG2-hO2Mxk3PvV-gi_BKGGTWbr7zrzNh21qC3396YrWB_S9_PwL7mY_KKw2TkrQe_amEk234hwphkDWz5oHMNm2ytOSh0GvrM8tmIL0QgOON2XKCJ4zjPh7EJccCwUxUmz0N7U0bhAFGmSf
Iron ore price rises on improving China steel margins
https://www.mining.com/iron-ore-price-rises-on-improving-china-steel-margins/
$130.49 1.05 (+0.81%) TIOC:COM Iron Ore 62% Fe Futures
https://seekingalpha.com/symbol/TIOC:COM/
$129.48 2.11 (+1.66%) TIOC:COM Iron Ore 62% Fe Futures
https://seekingalpha.com/symbol/TIOC:COM/
Iron ore holds firm as China enters peak construction season
https://www.nasdaq.com/articles/iron-ore-holds-firm-as-china-enters-peak-construction-season
Iron ore holds firm as China enters peak construction season
https://www.nasdaq.com/articles/iron-ore-holds-firm-as-china-enters-peak-construction-season