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I have seen ten times worse communication with other companies
Big profits are coming and i think we all owe something to Sello
It is simple as you said, Half of the board of LBRMF are in Anglesey who owns a 12% stake.In Grangesberg they own another 20% which was the third largest iron ore mine in Sweden.Same people govern all these three , all of these are interconnected.It is in the interest of AYM shareholders to see LBRMF or grangesberg to do well.All these board members have shares in all three, if you add Gerald group,which is a huge company ,you have a super yammy recipe.Personally i don't worry at all and i am sure we will hear good news in the summer, June or July i don't know but it will happen no matter what.
JP this past agreement brought 35% up the shares of AYM.Imagine our shares when they will announce an agreement.
Anglesey Mining shares soar as LIM announces new sales and off-take agreements
Shares in Anglesey Mining (LON:AYM) surged today after LIM revealed a new iron ore sales agreement with the Iron Ore Company of Canada (IOC).
IOC will buy all of LIM's production for the next two calendar years - 2013 and 2014.
LIM, which is 15.3% owned by Anglesey, also told investors it had entered into an off-take financing agreement with RB Metalloyd Limited (RBM), a leading international commodity trading house.
Under the deal, LIM will receive an advance payment of US$35 million to be credited against future sales of a minimum of 3.5 million tonnes during 2013 and 2014.
LIM chairman and CEO John Kearney said: "We are very pleased to be able to continue our working relationship with IOC as we head into our third year of production from our Schefferville area iron ore mines."
IOC will pay for the iron ore progressively, as the ore is resold, with the price based on the monthly average of the market index, which should decrease LIM's exposure to market volatility.
Kearney noted that the two year extension to the contract and this price fixing were two important improvements over previous years.
On the RB Metalloyd financing, Kearney said: "This advance payment financing of $35 million from RBM provides LIM with important working capital and increased liquidity and will enable us to ramp up our 2013 production of iron ore and complete our planned capital investment and improvements on our Silver Yards processing plants."
On April 23 this year, LIM began its third year of DSO production from its Schefferville area iron ore mines and is targeting production of 1.75 to 2.0 million tonnes of sinter fines and lump in 2013.
The first Capesize shipment of 2013 is expected to be loaded around the end of May.
In the last two years, LIM has sold 13 Capesize shipments of iron ore to IOC, Canada's larget iron ore producer, for a total of around 2 million tonnes, all of which was resold in China, with the price calculated based on the daily China spot price and sales experienced unpredictable variations.
Today's news comes as particularly welcome for Anglesey since after LIM shut down for its normal winter break last November it cautioned it would only re-start again if iron prices had recovered enough.
Anglesey shares were up over 35% to stand at 9.50p.
Excellion Capital acts for Labrador Iron Mines on a $35 million prepay financing and offtake agreement
May 2013
Labrador Iron Mines Holdings Limited (‘LIM’), a Canadian iron ore mining company listed on the Toronto Stock Exchange (TSX: LIM), last week announced its entry into an offtake and financing agreement with RB Metalloyd, a leading international commodity trading firm. Excellion Capital acted for LIM in connection with this milestone transaction.
Under the terms of the financing and offtake agreement, RB Metalloyd advanced a pre-payment of $35 million to LIM which is due to be repaid over the next two years, credited against future deliveries of iron ore during the course of 2013 and 2014. The company expects to deliver a minimum of 3.5 million tonnes during this timeframe. RB Metalloyd has agreed to buy all of LIM’s product on an FOB basis.
The financing provides LIM with important working capital; it is designed to enable the company to ramp up its 2013 iron ore production as well as complete its planned capital investment and improvement programme for the company’s Silver Yards processing plants. In April 2013, LIM commenced its third year of production of direct shipping ore (DSO) from its Schefferville mines located in Western Labrador, Canada. For 2013, LIM is targeting production of 1.75 to 2 million tonnes of sinter fines and lump.
Robert Stafler, co-founder and managing director of Excellion Capital, said: “This is another landmark transaction for Excellion Capital’s Natural Resources franchise. It once again demonstrates Excellion’s ability to originate and close bespoke financing solutions for clients, as well as our strong access to institutional capital.”
About Labrador Iron Mines Holdings Limited
Labrador Iron Mines is Canada’s newest iron ore producer with a portfolio of direct shipping ore (DSO) iron ore operations and projects located in the prolific Labrador Trough. Production commenced in 2011, and LIM’s iron ore sales in 2012 totalled c. 1.6 million dry tonnes of iron ore. LIM recently commenced its third year of operations. The company’s James Mine is connected by a direct rail link to the Port of Sept-Îles, Québec.
Simultaneously with the RB Metalloyd transaction described above, the Company also entered into a new agreement with the Iron Ore Company of Canada (‘IOC’) for the calendar years 2013 and 2014. IOC, whose major shareholder is the Rio Tinto group, owns and operates storage and ore handling facilities at the port of Sept-Îles, as well as the Quebec North Shore & Labrador railway (QNS&L). In 2011, LIM had entered into a life-of-mine rail transportation contract with QNS&L for the transportation of LIM’s product on the QNS&L railway.
Bought another 20.000 , super, we are not far from the next round of news $CNGT
He sold for $4.10 brit pounds, do the math, it's around $7 Cad
Kearny sold 1 million shares of AYM close to $7 CAD for each one, he is a millionaire, so he will act and will finish the deal, but he is already a millionaire (not like us wanna be millionaires)
Yup time to go up, excellent news !!!!!!!!!!!!!!!!!!!! $AIABF
Could be next week
IT S OUT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!BOOM
Relax people the iron ore is there in Houston is not going anywere.If you worry about the mine if will become operational, please don't worry. I feel you but if they don't have something handy right now, how can they update us every month.What will they say ? GM all for the month of March we negotiate, for the month of April we still negotiate, etc......That is not how these things work.Any agreement is a matter of time, do not ask if...just ask when ? I had personally information that they negotiate with a big mining giant, what happened since then ? I don't know, but i do know that they held talks with more than one companies, which means they will decide for the best offer.They may have an agreement in place already and wait to announce it together with financial results in a month.Anglesey mining said that the opening of Houston will give a big boost to their stock.It is not only Kearney but GERALD GROUP & ANGLESEY MINING that want this to happen and it will happen.These two companies are interconnected.
Anglesey Directors
John Kearney, chairman
Irish, born 1951, is a mining executive with more than 40 years’ experience in the mining industry and is chairman and CEO of Labrador Iron Mines Holdings Limited. He is also chairman of Buchans Resources Limited, Xtierra Inc. and Conquest Resources Limited. He is a director of the Mining Association of Canada and has degrees in law and economics from University College Dublin and an MBA from Trinity College Dublin. He is a member of the nomination committee. He is resident in Canada.
Bill Hooley, chief executive
Bill Hooley, born 1947, is a mining engineering graduate from the Royal School of Mines and has extensive experience in many countries including the UK and Australia. He is vice-chairman and a director of Labrador Iron Mines Holdings Limited and a director of Grangesberg Iron AB and Eurmag AB. He has been a director of a number of other companies involved in the minerals industry. He is a Fellow of the Australasian Institute of Mining and Metallurgy.
Danesh Varma, finance director and company secretary
Canadian, born 1950, is a chartered accountant. He is a director of Labrador Iron Mines Holdings Limited and Grangesberg Iron AB and Eurmag AB. He is also chief financial officer of Buchans Resources Limited, Xtierra Inc. and Conquest Resources Limited.
We will go down to 20 cents first and then we will go up $ISWH
Basically we can start the party from now if we want!!!!!!!
Time to wake up $TZPC let's go up
Kearney is involved in many mining companies and he is very experienced, he and $LBRMF are a bit frugal with PR but they mean business.They are working for the best deal and believe me they will succeed big time.
Yes, not a bad day at all for Anglesey from $4.10 to $4.80 today , hope to see that number soon for $LBRMF
$10 USD price target will be fine for me, i am a humble guy??
When from $0.10 we may drop to $0.09 he will show up to say ah you are below one cent from 10 LOL
I think it's time to warm up the engines $TZPC
Something is going on, Anglesey mining today is $4.75 british pounds up 15%
These are great news for us, if they stop exporting ore to the chinese ,$LBRMF
Some people don't get it, if the news are right,and it seems they are , take off will be either today or Monday or Tuesday, just a matter of few days.$CNGT
Houston do you copy ?
Sure i am afraid so much i may sell at $0.30 right now .LOL.....Do you know how many articles hundreds of newspapers and other media wrote about the so called housing bubble in Toronto ? I know one thing , for the last 25 years the market goes only up up and up.My house of $250.000 , now is $1.5 million.If i have sold it because all these experts were writing from the morning till night every day that the bubble will burst i would have lost 1 million CAD.In a few years from now it will go $2 mil, you know why ? because we have 150.000 new immigrants every year and most of them come to Toronto and they need housing.Supply and demand as simple as that, so as long as there is a huge need for steel and ore, nothing is going to happen.China needs steel and ore for the next decade like crazy, Biden's big project for America will last at least 10 years from the moment it will start.For sure the price of ore is not going to be $300 or stay at $200 all the time, it will drop.But it will not drop below $140 for the next 2 years.Until $60 per tonne $LBRMF is profitable.Do you predict prices below $60 ? NO WAY
Plus as purezoob said it's CNN,......US was burning and they were showing peaceful protesters LOL......$LBRMF is almost risk free
Yes i know but the $39 was more or less a big bubble.So $39 was way too much but also $0.14 is way too low.I predict something between $0.50 to $1.20 which will be a normal PPS according to the financials of the company.But OTC is the land of magic where people become rich in a day or can loose big time.Let's hope it goes to $10.
I don't know but i got some cheapies so i want to thank these people who sell at these prices
I wonder how low this can go
Anglo American CEO: “45% of the world’s economic activity is driven by the mining sector”
SOONER OR LATER $LBRMF WILL FLY
TRANSLATION The price of iron ore, and particularly the type of ore produced on the North Shore and Labrador, is currently at historic highs.
This price increase should allow mining companies to rake in phenomenal profits.
This is unheard of, says Steeve Chapados, general manager of the Caisse Desjardins des Ressources naturelles.
Prices have never been so good. We even broke the records that the industry had reached in the early 2010s, specifies the specialist in the mining sector.
Standard iron ore, at 62% concentration, has reached US $ 193 per tonne, Chapados said. However, the iron ore of the North Shore, more concentrated and of better quality, benefits from an additional premium of US $ 35 per tonne.United States through colossal infrastructure investments are having a great impact on steel needs.
TRANSLATION.........................The more concentrated iron ore allows steel to be made using less energy and producing less pollution, which makes it particularly attractive to Chinese steelmakers.
China experienced the start of the pandemic long before us and immediately put in place its recovery plan. We are still under the impact of China's iron demand, observes the CEO of the QMAAlthough it is too early to determine the costs of minerals for the next few months, the fact that the Chinese and US stimulus will be phased in over several years suggests that commodity prices will remain high.Even after the haul, Mr. Chapados therefore estimates that the mining companies receive around C $ 195 to 200 per tonne.
It's phenomenal, the manager does not hesitate to say.
While Quebec Iron Ore is currently targeting a significant increase in production, Mr. Chapados observes that mining companies are also trying to optimize their production and obtain, thanks to the price of ore, a return on their investments in recent years.
Djavan Habel-Thurton (access the author's page)
Thanks this looks good to me too
$90 per metric tonne means $110 million profits for $LBRMF and us.There is no way to drop more than $140 in the next two years so don't worry everything will be super fine.
Thanks Lone, one more time anyone can realize that $LBRMF is the real deal.Let's say from $193 goes down to $93.What do we have ?.......We have more than $110 million profits, so this stock is a no brainer.
Good job you got in for 29 cents, you will double your money and more.The Vietnam project will bring a lot of value to the stock.If you want to wait long term it may reach 1 dollar in the next few months or beggining of 2022.
Next stop $200 USD ? I told you folks this year and the next one it's not going to drop below $150-140 per metric tonne.
According to Fastmarkets MB, Benchmark 62% Fe fines imported into Northern China (CFR Qingdao) were changing hands for $193.58 a tonne on Tuesday, up 3.93% from Friday trade.
The high-grade Brazilian index (65% Fe fines) also advanced to a record high of $226.90 a tonne.
https://www.mining.com/iron-ore-price-hit-record-high-fuelled-by-structural-supply-shortage/
Folks the universe works for us and $LBRMF , there is no way iron ore will go below 150 or 140 bucks this year or the next, so prepare yourselves for ignition.Houston do you copy ?
https://www.mining.com/iron-ore-price-up-as-steel-hits-fresh-highs-in-china/