Column: Iron ore price rally justified as China’s January imports surge

https://www.mining.com/web/column-iron-ore-price-rally-justified-as-chinas-january-imports-surge/

The Naskapi Nation of Kawawachikamach and IOC sign the “Aganow” agreement

https://www.businesswire.com/news/home/20230131005930/en/The-Naskapi-Nation-of-Kawawachikamach-and-IOC-sign-the-%E2%80%9CAganow%E2%80%9D-agreement

$123.37 0.29 (+0.24%) TIOC:COM Iron Ore 62% Fe Futures

https://seekingalpha.com/symbol/TIOC:COM

$123.08 0.38 (+0.31%) Iron Ore 62% Fe Futures


https://seekingalpha.com/symbol/TIOC:COM

Iron ore extends rally on China demand optimism

https://www.nasdaq.com/articles/iron-ore-extends-rally-on-china-demand-optimism-0

Wendy Wins

https://www.otcmarkets.com/filing/html?id=16340712&guid=cA2-kqMqjGyRdth

Skye Bioscience Obtains Central IRB Approval for Phase 2 Clinical Trial with SBI-100 Ophthalmic Emulsion

https://ir.skyebioscience.com/news-events/press-releases/detail/152/skye-bioscience-obtains-central-irb-approval-for-phase-2

Slow news week, so just some history for your reading.

https://ici.radio-canada.ca/nouvelle/1240326/mine-fer-iron-ore-canada-schefferville-sept-iles-archives

Iron Ore 62% Fe $121.79s +0.60 (+0.50%)

https://www.barchart.com/futures/quotes/TRF23/opinion

Update to Houston Beneficiation Plant filled today.
I do not know what it is as of yet, but they did something to warrant an update, hopefully something of interest. Last previous update was 2018

https://iaac-aeic.gc.ca/050/evaluations/exploration?search=Houston+Beneficiation+Plant&recent=true

I called it, I Said look out below 75% drop, ( Mic Drop )

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=170525233

Tacora Resources Faces Potential Cash Crunch (Scully Mine) I thought they had secured money from Cargill last week ? I talked about possible reason Scully might have been interested in us because of permitting problems with tailings. Unable to up production. Cargill has a vested interest in Tacora. Previous post https://investorshub.advfn.com/boards/read_msg.aspx?message_id=170794843

https://news.bloomberglaw.com/bankruptcy-law/distressed-daily-tacora-resources-faces-potential-cash-crunch
https://tacoraresources.com/wp-content/uploads/2023/01/Tacora-Resources-Announces-Business-Improvement-and-a-New-Advance-Payments-Facility-with-Cargill.pdf
https://iaac-aeic.gc.ca/050/evaluations/exploration?search=Scully+Mine+Tailings+Impoundment+Area+Expansion+Project

Iron Ore Jumped About 60% After Bottoming Out Last Quarter, Great headline, even better chart

https://www.mining.com/web/iron-ores-sharp-gains-catch-beijings-eye-as-traders-summoned/iron-ore-jumped-about-60-after-bottoming-out-last-quarter-steel-material-has-powered-higher-as-bet-on-chinas-recovery/

Until I hear otherwise, reasons to be positive on LBRMF from company's own MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS FOR THE THREE AND SIX MONTHS ENDED SEPTEMBER 30, 2022 Dated: November 10, 2022

The Houston Project offers low technical risk, with only building a short gravel road and rail siding as the principal construction components. The Houston Project’s deposits 1 and 2 have undergone extensive regulatory review and approval and are considered ready for construction with a one-year construction period to production. Planned operations will involve conventional open pit truck and shovel activities and simple dry crushing and screening for processing.

LIM is advancing development of the Houston Project through a number of initiatives, including: discussing an offtake agreement, including construction financing and product sale components with a potential off-take partner; advancing commercial negotiations with construction contractors, equipment vendors, rail, port and logistics counterparties; and planning metallurgical test work of drill core collected from the Houston Project in a 2013 bulk sample, to refine the product characterization and specifications which will be helpful in marketing the iron ore.

Based on the assumptions used, the PEA estimates the Houston Project will generate an undiscounted net cash flow of $234 million and an after-tax net present value at an 8% discount rate (“NPV8%”) of $109 million and an after-tax internal rate of return (“IRR”) of 39%, under the base case US$90/dmt (62% Fe Sinter Fines CFR China basis) benchmark pricing model.

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.

Volume 57000 shares @ $.091 first minute. ? News

Canada government approves James Bay lithium project in Quebec
The project is expected to produce an average of 5,480 tonnes of ore per day over a mine life of 15 to 20 years.

https://www.canadianminingjournal.com/news/canada-government-approves-james-bay-lithium-project-in-quebec/

China Reopening Rally To Drive Up Iron Ore Prices

https://seekingalpha.com/article/4570335-china-reopening-rally-drive-up-iron-ore-prices

Mining Giant says 2023 will be turning point

https://www.msn.com/en-us/money/news/mining-giant-says-2023-will-be-a-real-turning-point-for-the-world-as-china-reopens/vi-AA16oW0d?ocid=msedgntp&cvid=1564288cfb9644be8f171771c84e82d3

They are talking about what to do with the 12% interest in LIM on Anglesey mining chat boards. Anglesey has acquired a larger share of one of its 2 other mining investments. Funny how their opinions on what should move forward or sold of Anglesey assets, pretty much opposite of what we hope for. Again, part of my concern, a lot of expenses, salaries etc. going on with no income as of yet, but an operation that has been running in recent years cannot seem to get done. But they seem excited about some new young people at Anglesey. Again, would like to see at least our website updated and maybe conversations about replacing board member that recently passed away. At a minimum to let people know the lights are on, and someone is home.
.

https://www.angleseymining.co.uk/anglesey-acquires-a-further-29-8-of-grangesberg-iron-ab/
https://uk.advfn.com/stock-market/london/anglesey-mining-AYM/share-chat?page=1193&xref=chatnav_i_0_b
https://www.lse.co.uk/ShareChat.asp?ShareTicker=AYM&share=Anglesey-Mining

TIOC:COM Iron Ore 62% Fe Futures $122.33,1.07 (+0.88%)

https://seekingalpha.com/symbol/TIOC:COM

Goldman said it was “most positive” on 62% fe and high-grade iron ore, as well as coking coal, due to an expected increase in Chinese steel production.

https://www.fool.com.au/2023/01/13/6-asx-mining-shares-just-upgraded-by-brokers/

Iron Ore 62% Fe $121.26s +0.24 (+0.20%)

https://www.barchart.com/futures/quotes/TRF23/opinion

Iron ore hits new six-month high

https://seekingalpha.com/news/3923969-iron-ore-hits-new-six-month-high-on-china-demand-optimism

Iron Ore 62% Fe $121.02s +1.36 (+1.14%)

https://www.barchart.com/futures/quotes/TRY00

Iron Ore 62% Fe $119.66s +2.25 (+1.92%) 01/10/23 [COMEX]

https://www.barchart.com/futures/quotes/TRY00
https://www.nasdaq.com/articles/iron-ore-climbs-above-$120-t-as-supply-concerns-boost-support

The economic analysis confirms a positive economic result for the Houston Project PEA at the
base case benchmark iron ore price of US$90/dmt. The summary of the results of the cash
flow analysis is presented in Table 22-3.
TABLE 22-3 CASH FLOW ANALYSIS
Labrador Iron Mines Holdings Limited – Houston Project
Item Units Value
Pre-tax NPV at 7% discount $ million 123
Pre-tax NPV at 8% discount $ million 113
Pre-tax NPV at 10% discount $ million 93
IRR % 39%
After-Tax NPV at 7% discount $ million 120
After-Tax NPV at 8% discount $ million 109
After-tax NPV at 10% discount $ million 91
IRR % 39
Payback years 2.6
Note: the cash flow analysis is at the base case benchmark iron ore price of US$90/dmt.
The undiscounted pre-tax cash flow is $240 million, and the undiscounted after-tax cash flow
is $234 million. The pre-tax NPV at an 8% discount rate is $113 million and the after-tax NPV
at an 8% discount is $109 million. The pre-tax Internal Rate of Return (IRR) is 39% and the
after-tax IRR is 39%. The after-tax payback period is 2.6 years from the start of operations in
July of Year 1.
At recent benchmark iron ore prices of US$160/dmt, adjusted for assumed 50:50 price
participation above the base case benchmark iron ore price of US$90/dmt, the pre-tax NPV at
an 8% discount rate is $696 million and the after-tax NPV at an 8% discount rate is $459
million. The pre-tax IRR is 233% and the after-tax IRR is 209%. The after-tax payback period
is 0.9 years

JOYCE LAKE PROJECT
Century Iron Mines Corporation (Century) has filed a Project Description and Registration
document with the Government of Newfoundland and Labrador, for its proposed Joyce Lake
Direct Shipping Iron Ore Project. The Joyce Lake Project is situated in Labrador,
approximately 25 km east of LIM’s Houston deposits, and 20 km northeast of the town of
Schefferville, Québec. In a 2015 Feasibility Study, the Joyce Lake project was reported by
Century to contain 17.7 Mt of Proven and Probable Reserves at an average grade of 59.7%
Fe. A target production rate of 2.5 Mtpa over approximately seven years was proposed. The
project plan for Joyce Lake described in the technical report indicates road transportation of
iron ore products through the Houston Project (south of the Houston 3 pit) to a rail loop to be
constructed just north of the Menihek Hydro Dam location, on the east side of the TSH Railway

According to LIM, as per the standard practice of the DOEC, the Certificate of Approval for the
operation of the Houston 1 and 2 Project will be issued upon the commencement of
construction. Similarly, the operating permit for the Houston Railway Line will be issued by the
Newfoundland and Labrador Department of Transportation and Works, following inspection
and certification of the completed railway line.

RAIL SIDING
The Houston Project proposes building a new rail siding approximately two kilometres
northeast of the historic Redmond pit, adjacent and parallel to the TSH mainline track. The
rail siding will include gates for controlled access, a truck scale, fuel storage, storage shed for
light maintenance, surface water management, a train loading area, and stockpile areas for
lump and sinter fines products.
The Houston Project rail siding will connect to the existing TSH mainline track by switches
located at the north and south end of the siding. The siding will consist of two parallel tracks
for loading and rail car movement, as well as a southern end stub track for switching. The total
amount of track to be built is approximately 3.3 km, including five switches. The loading area
is approximately 1.2 km long and is designed to accommodate 82 iron ore gondola cars with
the parallel track holding the remaining cars.
Tree clearing for the Houston Project rail siding was completed in 2014. Construction of the
rail siding and associated infrastructure is proposed to take approximately four months with
completion in July of Year 1. Overall, the siding area earthworks has been designed as a
balanced cut and fill.
The QP recommends consideration for using the Redmond property rail right-of-way for the
Houston Project’s rail loading operations. Although a longer product haul is required
(approximately 1.5 km greater), the Redmond property rail right-of-way was formerly used for
loading iron ore trains and includes a rail loop at the end to turnaround, versus the current
proposed operation, which requires the train to be split multiple times. The improved
efficiencies in loading operations, along with potentially lower capital cost building off an
existing rail bed, would potentially offset the additional cost of the incremental truck haul.

Both are right. The development plan for Houston is relatively simple. The major component consists of constructing an 8 km gravel road, including a bridge over a river crossing. The new road will connect to an existing road located near Redmond Mine, which leads to the Silver Yards facility

It is also planned to construct a new rail siding near the Houston Mine. When the rail siding is complete, it will be used in conjunction with the Silver Yards rail siding to increase train loading capacity up to approximately 3 million tonnes per year, and will reduce the operating cost of overland haulage from the Houston Mine to the rail head.

Also read about permitting already completed

http://www.labradorironmines.ca/project_houston.php

The Players, First up is Joyce Lake DSO Project Century Global

Look at costs to open, mine life, total tons of iron over life of mine, estimate costs per ton,
Compare this to LBRMF

https://www.gov.nl.ca/iet/files/22445-Mining-in-NL-Final-for-Web-Oct-24.pdf
http://centuryglobal.ca/projects/joyce-lake-attikamagen/

Rainmaker and others, I am not a numbers person when it comes to company pricing and valuations. I know just enough. What I try to do is add to discussion so those who know more can add their views. I have owned shares for over 2 years. I will hold LBRMF until price reaches my goal or until I change my view. I have added to my holdings in LBRMF over the last 2 years. I realized when I bought this might take years to happen if at all. When researching LBRMF I look at others in the area, their costs per ton, opening costs, financing costs, was there offtake agreements, who are the agreements with, etc.

At this time, I have some confusion as to why this cannot get completed. When you look at others in the area, IOC, Tacora (Scully), Tata, Champion, Joyce Direct Iron Inc, and others, and look at them for comparisons this might be the lowest cost out there for a shovel ready mine in 12-18 months' time let alone over 12-year life of mine. What am I missing. We have existing assets and infrastructure, permits, future next mine assets, beneficiation plant permitted, existing rail, and cleared roadway for future rail. PEA was at $90, the price has only been under that price for 12 days since June of 2020 and the average has been well over $110.

My project for right now is to post other miners in area, especially proposed projects and estimated costs. I appreciate comments, I am trying to open up discussions on what might be next, and to be better informed, I would love a numbers person or persons to post their opinions, but I do not respond well to people who do not play nice. so please play nice, otherwise I am happy to take my marbles and go home.

September 2010 high $5.95
April 2011 high $15.43 Barchart ($14.74 on other sites)
2012 high $8.24
2013 high $1.75

Article from opening of new facility 2011

https://www.mining.com/first-iron-ore-train-leaves-schefferville-in-30-years/?fbclid=IwAR3jCa__wjleFhxuxrghONMwU3KKpj13Ndca29ns6ltF2p8BNmNtRDzd0rI

The construction of the mine 2010

https://www.dexter.ca/dexter/project/lim-schefferville-project

IRON IN LABRADOR

https://www.gov.nl.ca/iet/files/mines-investments-commodity-flyers-iron-nl-flyer.pdf

J-O-H-N-N-Y C-A-S-H - I've Been Everywhere, 3rd verse Schefferville, and for your entertainment is a story of a guy who visited all the places in the song on his motorcycle, and what he went through to just to get to Schefferville. 5 part series just about getting to Schefferville. This blog documents the journey to visit each place in the song “I’ve Been Everywhere”,92 Places, 49 States,16 Countries, 60k Miles, Should be easy

J-O-H-N-N-Y C-A-S-H - I've Been Everywhere, 3rd verse Schefferville, and for your entertainment is a story of a guy who visited all the places in the song on his motorcycle, and what he went through to just to get to Schefferville. 5 part series just about getting to Schefferville. This blog documents the journey to visit each place in the song “I’ve Been Everywhere”,92 Places, 49 States,16 Countries, 60k Miles, Should be easy

$117.79 TIOC:COM Iron Ore 62% Fe Futures up 6.51 (+5.85%)

https://seekingalpha.com/symbol/TIOC:COM

As I have said before, Look Out Below, any bets on earnings