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The Company plans to complete a working capital financing and is exploring various financing alternatives, including a potential private placement of equity. There is a significant risk that additional or alternative financing will not be available to the Company on a timely basis or on acceptable terms. The Company will need to secure development financing to fund the construction of the Houston Project. Various future construction financing alternatives being considered include an advance payment component of an offtake contract, equipment leasing arrangement(s), potential project partners, potential government funding and potential
equity financing.
Kearney :The related parties with which the Company transacted during the nine months ended December 31, 2022 were
Energold Minerals Inc. (“Energold”), a corporation controlled by John F. Kearney, and Buchans Resources Limited
(“Buchans”), a company in which John F. Kearney and Danesh Varma, directors and/or officers of the Company,
serve as directors and/or officers.
During the nine months ended December 31, 2022, the Company incurred costs payable to Energold in the amount of
$22,500 (2021 - $22,500) for administrative services. At December 31, 2022, $117,500 (March 31, 2022 - $95,000)
remained payable to Energold for such services.
13
During the nine months ended December 31, 2022, the Company had an office sharing arrangement with Buchans
pursuant to which the Company incurred office sharing costs of $33,750 (2021 - $18,000). At December 31, 2022,
$18,750 (March 31, 2022 - $Nil) of office sharing costs was payable to Buchans.
The amounts payable by the Company to related parties are unsecured and non-interest bearing.
During the nine months ended December 31, 2022, John F. Kearney, a director, advanced $100,000 to the Company
on a non-interest bearing basis with no fixed repayment terms for working capital purposes.
The rising costs of iron ore and coking coal, along with robust post-COVID-19 pandemic demand, China Steel hikes prices.
https://www.taipeitimes.com/News/biz/archives/2023/02/16/2003794413
Iron ore firmer but range-bound, traders in wait-and-see mode
https://www.nasdaq.com/articles/iron-ore-firmer-but-range-bound-traders-in-wait-and-see-mode
$124.34 0.14 (+0.11%) Iron Ore 62% Fe Futures
Neighbors getting attention.
https://www.stocktrades.ca/canadian-iron-ore-stocks/
Iron ore rebounds on China economic growth hopes
https://www.nasdaq.com/articles/iron-ore-rebounds-on-china-economic-growth-hopes
Tata Steel's Schefferville mine to reopen in February
https://ici.radio-canada.ca/nouvelle/1954407/miniere-tata-steel-schefferville-construction-expertise-pg
Tata Steel has entrusted Construction & Expertise PG and its First Nations partner Maikan Construction & Expertise the operation and maintenance of the concentrator in Schefferville
https://www.dropbox.com/s/ry5m6goqi60uy4e/CommuniquePresse_EmbauchePG_Fevrier2023%20-%20ang_7Feb.pdf?dl=0&fbclid=IwAR1IsoYadIxBgrC09mtNG9PW6-TfJE1kn-5QgqhjRE_dM-0dvCBm5SP4-2Q
Australian Company Purchases World-Class Iron-Magnetite Deposit Near Schefferville
https://macotenord.com/une-compagnie-australienne-achete-un-gisement-de-fer-magnetite-de-classe-mondiale-pres-de-schefferville/
Big Short hero’s market warning – and his ASX stock tip
https://www.afr.com/chanticleer/big-short-hero-s-market-warning-and-his-asx-stock-tip-20230207-p5cin9
The Advertising Ballon of the PRC started in China, then over Alaska, Then through central Canada, Entered the US and was seen throughout the rust belt, then exited over South Carolina where it was shot down by a Russian submarine when it entered into the space above the sub, so I was told.
Fred, the Groundhog, dies before he can predict the arrival of spring
https://ici.radio-canada.ca/nouvelle/1952878/fred-marmotte-prediction-val-espoir-printemps
$125.26 1.31 (+1.06%) Iron Ore 62% Fe Futures
https://seekingalpha.com/symbol/TIOC:COM/
$123.95 -2.38 (-1.88%) TIOC:COM Iron Ore 62% Fe Futures
https://seekingalpha.com/symbol/TIOC:COM
Commodities that won and lost in January … 2023 ( I will give you a hint Iron Ore )
https://stockhead.com.au/resources/up-up-down-down-which-commodities-won-and-lost-in-january-2023/
Skye Bioscience Retains Lexitas Pharma Services as CRO for Phase 2 Trial of SBI-100 Ophthalmic Emulsion
https://www.newsfilecorp.com/release/153334
Iron ore prices could rally as one leading producer remains reluctant to share, analyst says
https://www.cnbc.com/2023/02/01/iron-ore-prices-may-rally-as-india-remains-reluctant-to-share-analyst.html
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
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
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