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Champion Iron Ord Shs T.CIA

Alternate Symbol(s):  CIAFF

Steel Steel
Champion Iron Limited is an Australia-based iron ore exploration and development company. The Company, through its wholly owned subsidiary, Quebec Iron Ore Inc., owns and operates the Bloom Lake Mining Complex, located on the south end of the Labrador Trough, approximately 13 kilometers (km) north of Fermont, Quebec. Bloom Lake is an open-pit operation with two concentrators that primarily source energy from renewable hydroelectric power. The Company ships iron ore concentrate from Bloom Lake by rail, to a ship loading port in Sept-lles, Quebec, and has sold its iron ore concentrate to customers globally, including in China, Japan, the Middle East, Europe, South Korea, India and Canada. In addition to Bloom Lake, Champion owns a portfolio of exploration and development projects in the Labrador Trough, including the Kamistiatusset Project, located a few km south-east of Bloom Lake, and the Cluster II portfolio of properties, located within 60 km south of Bloom Lake.


TSX:CIA - Post by User

Champion Iron Ord Shs > Down 7.42% in Australia
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Comment by savyinvestor333on Apr 06, 2024 7:02am
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Post# 35974516

RE:RE:RE:RE:Down 7.42% in Australia

RE:RE:RE:RE:Down 7.42% in Australia

DJ Champion Iron Facing Tough 4Q -- Market Talk

2316 GMT - Champion Iron is facing a tough 4Q, says Citi, which cuts its price target on the miner by 10%, to A$8.60/share. "Winter effects, increased maintenance downtime and constrained rail capacity will be evident in 4Q," analyst Paul McTaggart says in a note. Citi forecasts quarterly production of 3.7 million tons of iron ore, and sales of 3.1 million tons. In addition, Champion Iron is grappling with higher sea freight and cash costs, prompting Citi to cut its FY 2024 and FY 2025 Ebitda forecasts by 25% and 14%, respectively. Champion Iron is down 3.6%, at A$6.88, early on Friday. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

April 04, 2024 19:16 ET (23:16 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.

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