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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
Jimmy, Thanks for the reply, sometimes you can read something and read something into it. I appreciate the response and also was not intending to attack. Now lets find someone to finance our mine and buy our Iron Ore.
Labrador Iron Ore Royalty GAAP EPS of $0.70, revenue of $48.3M (Our neighbors)
https://seekingalpha.com/news/3945203-labrador-iron-ore-royalty-gaap-eps-of-070-revenue-of-483m
CHAMPION IRON TO PRESENT AT RENMARK FINANCIAL COMMUNICATIONS' VIRTUAL NON-DEAL ROADSHOW SERIES ON MONDAY, MARCH 13, 2023 (Our Neighbors)
https://ca.finance.yahoo.com/news/champion-iron-present-renmark-financial-220900060.html
Century Announces Receipt of Notification Regarding a Major Shareholder (Our Neighbors)
https://finance.yahoo.com/news/century-announces-receipt-notification-regarding-161900828.html
On a lighter note, I would like to thank the person who tries to get this to close at the high for the day with those last-minute buys. I have reached 90% of my goal of shares as of now. Hoping for something good to get me to buy last 10%. Have owned for over 2 years, and have added to position to keep cost average at what I am comfortable with. When I bought I understood 2 years minimum to open, not happy additional time it is taking but as long as no extreme dilution, or toxic financing I am willing to wait. The money is sitting on the ground, just need to shovel it up, and find a buyer. Get to work LBRMF
Iron ore climbs on improving downstream demand
https://www.brecorder.com/news/40230134/iron-ore-climbs-on-improving-downstream-demand
Damage evaluation of concrete using iron ore tailings as aggregates under uniaxial cyclic compression ,
https://link.springer.com/article/10.1007/s10035-023-01316-z
I have emailed 2 board members, 1 investor, several government agencies, companies that might be involved with opening of the mine. I have sent some of these links to some of parties involved in this. I have asked my questions, some responded, some did not. I was surprised by one reaction I did receive. I do not post what info I have received. You need to do that for yourself to make your decisions on company.
I do not know why you feel the need to attack me, I do not know you, usually I have to know someone before I piss them off. You may not like me posting the current price of Iron Ore repetitively, but I do not care what you think. There are several reasons I chose to do this. 1. Every dollar that Iron goes up times the amount of estimated millions of tons of iron ore reserves gets this one step closer to becoming reality, and also on the flip side every dollar it goes down the opposite is possible. 2. Iron ore is not flashy like gold, silver, lithium etc. So, the amount of articles and information is minimal at best, so take what you find when it is there. 3. I prefer to post articles that might relate to Schefferville area iron ore or deals and partnerships by related companies, but there are slow news days in Iron so sometimes the news is more of the whole Iron industry. 4. Knowledge and information is power. When to buy and when to sell. I have learned that hard way.
I know and feel your frustration with Kearney and management. I have concerns about the short-term financing needed just to keep the lights on in the near future. The positive to that was it appears Kearney helped in some way with 100k loan, I take that as positive for the short term. The last time this company was up and running it did not end well, so this only has to add to trying to getting it done, if at all. I personally think that is why they are trying for an off taker or partnership. I originally thought the key was Gerald Group, but I think that is not as likely. I do not know if bridges were burned or conflicts of interest or they are just waiting in the wings to swoop in at the right time for their benefit. In comes Scully, they looked like they were our saviors, but as of right now it appears dead. Scully is a royalty and financing company with ties to Cargil, the whole package needed. What went wrong, I do not know if it was us or them, neither has said what went wrong or if the drop in price of ore at the time scared them away. Hence the price of Ore means everything on a daily, weekly, monthly bases. Sorry but for investors you should always want that information on a daily basis especially if it moves up or down. Remember this is a penny stock and at any moment it could move up or go into the dark. Make your decisions on your believes and not that of those who post.
With that being said I think people posting their concerns about CEO and board should be posted. I also think that the current news is of equal concern in a penny stock. It is not my responsibility to contact the CEO with your concerns, all though I think your concerns are warranted. Remember I said I do not play well with others! I prefer to play with my grandchildren, they have not had enough time to get an opinion of me as of yet, so they still like me. So, if you still think I should take my toys and go home, I am happy to do that. Otherwise, I am happy to keep posting. Hope that helps understand.
China iron ore imports rise 7.3% on year in January-February
https://financialpost.com/pmn/business-pmn/china-iron-ore-imports-rise-7-3-on-year-in-january-february-2
Iron ore climbs on improving downstream demand
https://www.nasdaq.com/articles/iron-ore-climbs-on-improving-downstream-demand-0
$127.33 1.83 (+1.46%) Iron Ore 62% Fe Futures
Toyota and Nippon Steel agree on price hike for first half of fiscal year
https://www.japantimes.co.jp/news/2023/03/04/business/nippon-steel-toyota-steel-agreement/
Dry bulk market surges off stronger iron ore, grain and coal volumes
https://www.tradewindsnews.com/bulkers/dry-bulk-market-surges-off-stronger-iron-ore-grain-and-coal-volumes/2-1-1413849
Dalian iron ore hits multi-month high on demand optimism
https://www.hellenicshippingnews.com/dalian-iron-ore-hits-multi-month-high-on-demand-optimism/
Nippon Steel could buy more stakes in coking coal and iron ore mines
Its Time for Management to find a partner
https://www.hellenicshippingnews.com/nippon-steel-could-buy-more-stakes-in-coking-coal-and-iron-ore-mines/
Iron ore price rises on demand optimism, Benchmark 62% Fe fines imported into Northern China rose 0.54%, to $127.70 per tonne.
https://www.mining.com/iron-ore-price-rises-on-demand-optimism/
Iron ore price pushes to highest since July on demand optimism
https://seekingalpha.com/news/3943803-iron-ore-price-pushes-to-highest-since-july-on-demand-optimism
Ground Breakers: China delivers for major miners on big morning of gains
https://stockhead.com.au/resources/ground-breakers-china-delivers-for-major-miners-on-big-morning-of-gains/
Iron ore price extends rally to lift miners
https://www.afr.com/markets/equity-markets/iron-ore-price-extends-rally-to-lift-miners-banks-fall-20230302-p5couh
$126.80 1.05 (+0.83%) Iron Ore 62% Fe Futures
Iron ore jumps on China data, bullish steel demand outlook
https://auto.economictimes.indiatimes.com/news/auto-components/iron-ore-jumps-on-china-data-bullish-steel-demand-outlook/98336824
Vale to increase high-grade iron ore output in tightening market, higher the grade, larger he spread in price.
https://www.mining.com/web/vale-to-increase-high-grade-iron-ore-output-in-tightening-market/
5 Stocks You Can Confidently Invest $500 in Right Now (Our Neighbors)
Maybe they have an interest in our mine, they seem to be able to make a go of it and make money for share holders.
https://ca.finance.yahoo.com/news/5-stocks-confidently-invest-500-210000872.html