Champion Iron Ord Shs T.CIA

Will Phase 2 tonnes be sold in Q1

[OuijaFund]

Wondering if  Phase 2 tonnes will be sold in Q1 (Apr-May-Jun)?  Statement that 24,304 wet metric tonnes shipped on May 3.  Will Phase 2 tonnes be sold in Q1?

[Gr8brt10]

Yes. My understanding from previous company commentary is that the phase 2 ore will be sold throughout the 8 month ramp up period as it is milled.

[BigJo]

From today's filings: During the three-month period ended March 31, 2022, the Company advanced the work required to commission its Phase II project. As such, the Company completed its first rail shipments containing 24,304 wmt of high-grade 66.2% Fe iron ore concentrate from the Phase II project on May 3, 2022. The Company's first saleable Phase II high-grade iron ore

[Tothemoon2]

Maybe depends on where the tons are sold to.  Doesn't it take 55 or so days by ship to make it to China or Japan?

[OuijaFund]

On the call Q&A, David Cataford answered question about what "commercial production by end of calendar year" means and he said it means producing at nameplate capacity at that time.  That means Phase 2 will very quickly be making a significant impact to Champion quarterly earnings.