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Hope no one invested their retirement savings on this as has been the common theme throughout. This company is going no where fast.
I agree. Just think that if you plan to build a road/rail in a 4 month timeframe (2 months left today) then you should probably have had a contract organized or hired some workers. Even some activity on the mine would be sufficient. None of this has happened when iron ore is so hight. This tells me that the company isn't yet determined to get the mine going or that they have bad management.
Road and rail construction?? Anyone have any word on if this has even started yet? Any contractor approvals or in house workers hired? This may take longer than 15 months (now) to get up and going.. too bad they could be making a huge profit right now.
China's growth is levelling off..
https://www.ctvnews.ca/business/china-s-growth-surges-to-18-3-per-cent-but-rebound-levelling-off-1.5389887
Simandou iron ore deposit in West Africa with agreements with China..
"But in June last year, it moved a step closer to becoming a reality when the government of President Alpha Conde signed an agreement with a consortium of Chinese, Singaporean and French companies to develop the project."
https://www.afr.com/chanticleer/china-s-african-iron-ore-strategy-spells-danger-for-australia-20210408-p57hnm
Too many maybe's in your post Steve I hope you see that. Back when LBRMF was profitable from 2010 to 2012 it was only for 2 years. To project that there will be profits for 12 years is not a sound predication. Also so say they will be on the TSX and move to Brazil is reaching.
China could be building Iron Ore in Africa and in other places around the world.
https://asia.nikkei.com/Business/Markets/Commodities/China-determined-to-build-iron-ore-hub-in-Africa-as-Australia-goes-Quad
Do you think China wants to buy from Canada with the political tensions?
https://www.theglobeandmail.com/politics/article-politics-briefing-chinese-diplomat-calls-trudeau-boy-as-tensions/
One bird in the hand is worth more than 2 in the bush. LBRMF should have seen the writing on the board last year when Iron ore was so high. The PEA was supposed to be done by end of last year and was 3 months late. To say that the road and rail will be done in 4 months is ridiculous. Have they even started that work yet? Have then hired posted any jobs yet? No.
The bottom line is that they project to be up and running in 17 months. Anyone who has worked in construction knows that things usually take twice as long as you think.
Sorry Steve your analysis does not take into account other relevant information that regarding what the future holds for the price of iron ore and LBRMF's ability to capitalize. The boat has left...
This was already posted before and in the article I posted. The whole point of my post is that LBRMF cannot capitalize on the high iron ore prices now or this year. Who knows what the iron ore prices will be 17 months from now. Brazil an Australia can recover and increase supply. Too many variables to say.
Proof is directly from the PEA report..
"The Houston Project is considered ready for construction as the first stage deposits have already undergone
extensive regulatory review and permitting approval. With an 18-month construction period, the Houston Project
has very low technical risk, with only a short gravel road and rail siding as the principal construction components."
Too bad they wont be up and running this year to not only capitalize on this years high iron ore prices but ALSO last years as well.
This company is being EXTRA cautious in getting the operation running ASAP while the price of iron ore is so high with Brazil and Australia being hit with COVID. The company had all last year to figure out the logistics of getting the mine up and running including potential financial investors and have stalled. There are no updates in terms of getting the infrastructure in place or financing for such.
The stalling when they could profit is a bad sign imo. Very bad.
https://www.mining.com/iron-ore-price-jumps-on-falling-shipment/
Been hearing this hot air for months now... Meanwhile the stock is tanking because it's a lot of "if and whens" and speculation on "secret investors" and no action to back it up. This is why the stock keeps dropping and there has been a drop from the PEA. Doesn't take a rocket scientist to see that. Keep buying if that's what you chose but please don't pump the stock based on speculation, and entice other people to put their hard work and money (and any retirement) on this stock. That would be a real shame.
Hahaha Might have to buy a calf and feed it for the next 17 months to get those steaks. It will then be right around the time LBRMF will take off!!! Only need to build a road, railway and get an investor. Should be no problem. Oh wait where is the Gerald Group?? All this talk of Gerald Group and no follow up. Wait.. someone mentioned a "secret" investor behind the scenes. We should find out in a year or so (I think that one depends on the next solar eclipse)! Go LBRMF!!
Think the pumpers are starting to bail and short the stock..
"Labrador Iron Mines saw a increase in short interest during the month of March. As of March 15th, there was short interest totaling 30,300 shares, an increase of 506.0% from the February 28th total of 5,000 shares. Based on an average daily volume of 539,200 shares, the days-to-cover ratio is currently 0.1 days."
https://www.marketbeat.com/stocks/OTCMKTS/LBRMF/
Haha DMar70 dont you know that youre going to be riding your Harley this summer? Retire? Cmon man LBRMF!!
Precisely.. make take longer than 17 months. At the rate they are going ie. high iron ore prices all last year, this may not be up and running for years.
ONLY 17 months while Brazil is hammered with COVID and will have a substantial decrease in iron ore production. Good to know this company will keep being extra cautious in their efforts to get this mine up and running! Go LBRMF!! Ready for take off (the slow 17 month potential lift off!).
Makes no difference how long you have been on here for. For all anyone knows you had stock in this company back when it was in the dollars and didn't sell and now you are trying to recoup your investment. The point is that you posted vague information about a potential deal for financing with a "giant" with no corroborating details. That is precisely what people do when they want to pump a stock. I'm merely pointing out the obvious. This will be my last post on this with you I'm not apologizing or getting into a debate on an obviously factual course of events.
Interesting article. Precisely why it's probably not a good idea to post about "giant investors" with no details to follow. Then follow that up with "it may not work out" to ease the burden of proof.
Lets just hope the demand for steel stays strong...
https://www.spglobal.com/platts/en/market-insights/latest-news/metals/021021-analysis-chinas-property-steel-demand-could-post-first-decline-in-6-years-in-2021
Hoping for the best here and they get this mine going but China is messing with the price of iron ore by halting steel production..
https://www.mining.com/iron-ore-price-dives-on-china-pollution-crackdown/
Not that funny. I was tipped off from a friend on a stock that looked promising and has subsequently turned out not to be. I don't typically invest in the OTC market but thought I would take a chance against my intuition. Turned out to be a bad investment. Nothing to see here.
Reality check.
Who said anything about day trading? Im a cautious investor that likes to make a return on my investment. Air Canada went up over 30% in the last 2 months luckily most of my portfolio is in. Ive been watching this stock since last December waiting patient for the PEA which is 2 months late only to be told that the mine has iron ore and is anticipated to open (really?).
No talk about financing or an expedited opening. It's all a lot of talk with no concrete plan. I don't want to wait 2 years on a stock that already has iron ore to sell in a competitive market NOW, not in 2 years when many factors could change in particular the price of iron ore. Sad for a Canadian company to not jump on this, put Canadians to work, and have a say in the global markets.
Looks like down to the pennies until there is some concrete news here. What a waste of time and energy I have invested here. I mean really the plan is to continue waiting and stalling while the price of iron ore is high? Unbelievable. What is going to happen is the price of iron ore will drop and then they will say its not economically feasible to begin the mining process.
Yes I too find it ridiculous to wait one day longer to open this mine given the current price of iron ore. Absolutely ridiculous.
Will have to agree here. I bought some of this stock and was a supporter. Starting to lose my confidence. The environment is optimal to mine iron ore. First it was the PEA end of last year, then end of February ... still nothing. Bad management imo to not capitalize on this now. Basically losing millions of dollars because of the stalling. Should have invested my money elsewhere.
Anyone ever think about posting this info on Reddit Wallstreetbets? I mean just to get the word out?
Im sorry you see the truth here now. The company has seen rising iron ore over an entire year and have done nothing. They had that time to come up with a plan. They have not until fall of last year and then started with a PEA report that was supposed to be done by the end of last year. Now this report is going to be another 2 months. Whether I have a plan or not really has no bearing on the facts here. They are stalling and it is obvious. The writing is on the wall.
Analysis paralysis.. millions of dollars a day wasted by waiting. Not a smart business move. Seems they are hesitant and waiting to see if the price of iron ore drops significantly so they can bail. Make hay when the sun shines. They are stalling here.
I agree.. alot of words that sum up to stalling.
Why would this company wait another 2 months to start considering mining when the price of iron ore is so high right now. Makes no sense to me and they are losing millions of dollars by stalling...
"The updated mineral resource estimate is expected to be completed by mid-February, with the results of the PEA expected to be available around the end of February, and the Technical Report expected to be filed before the end of the Company's current financial year ending March 31, 2021."
This cant be good...
https://www.americanbankingnews.com/2021/01/13/short-interest-in-labrador-iron-mines-holdings-limited-otcmktslbrmf-expands-by-162-5.html
Dont get me wrong I bought a significant amount of this stock based on my DD however every day that goes the company loses profit on potential sale. Having the PEA not out yet when it was supposed to be released two weeks ago is not the best news.
Marketbeat now has the stock rated at 0.84/5 stars just by a basic search on their website. Was it rated #1 in the past. Not trying to shake things up here but wanted clear information.
Just curious on this information. I can see banks assessing Labrador Iron Ore Royalty Corp (LIF) at that amount but not LBRMF.
What do were the banks basing this price point at? I mean LBRMF only reach at max price of around 14.00 back in 2011 when Iron Ore was at a high. Iron Ore is rising now similar to the past, which give some projected price points, but I find it hard to believe that banks would reach the average price you are speaking of.
Which bank had the LBRMF price target of 31.40?
Hello makinezmoney,
Ive read this forum and have done my DD on this stock. I have purchased some. There is a possibility the PEA will be positive and that the price will rise based on the companies ability to deliver. What I am wondering is why is there a need to continually post this information? As you may imagine this is a bit concerning for a pump and dump. No offence.