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Labrador Iron Mines Holdings Ltd LBRMF

Steel Steel
Labrador Iron Mines Holdings Limited, through its subsidiaries, is engaged in the exploration and development of iron ore projects situated in the Menihek area of western Newfoundland and Labrador and northeastern Quebec, near the town of Schefferville, in the central part of the Labrador Trough region of eastern Canada, an iron ore producing regions in the world. The Company’s focus is planning and financing activities related to advancing the Houston Project, its flagship property. The Houston Project is an open pit direct shipping iron ore project located near the town of Schefferville. It holds approximately 50 million tons in historical direct shipping iron ore resources in various deposits. It also holds the Elizabeth Taconite Project, which has an Inferred mineral resource estimate. Its Schefferville Area Projects include James Deposit, Redmond Mine, Knob Lake Deposit, Houston & Malcolm, Sawyer Lake Deposit, Astray Lake Deposit and Kivivic No. 1 & 2 Deposits.


GREY:LBRMF - Post by User

Labrador Iron Mines Holdings Ltd
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Comment by opti007on Jul 30, 2019 12:16pm
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Post# 29975198

RE:Annual report and new MD&A July 2019 is out on Sedar

RE:Annual report and new MD&A July 2019 is out on SedarThe excerpt;

”
Notwithstanding the improvement in iron ore prices, LIM does not plan to undertake mining operations during 2019. Development of the Houston Project, which is planned as LIM’s next DSO project, is subject to the availability of development financing, and securing such development financing requires market confidence that the current level of iron ore prices will be sustained. As described further under “Iron Ore Market Conditions” below, some uncertainty exists about the iron ore market in 2020 and beyond. LIM will continue to monitor iron ore market conditions as they relate to the availability of development financing, however even if such development financing were available it is unlikely that production could begin at Houston until 2020 at the earliest.
”
https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00025889

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