Last C$0.07 CAD
Change Today 0.00 / 0.00%
Volume 125.1K
LIM On Other Exchanges
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As of 3:59 PM 07/30/14 All times are local (Market data is delayed by at least 15 minutes).

labrador iron mines holdings (LIM) Snapshot

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52 Week High
08/12/13 - C$0.58
52 Week Low
07/14/14 - C$0.06
Market Cap
8.8M
Average Volume 10 Days
213.2K
EPS TTM
C$-1.00
Shares Outstanding
126.3M
EX-Date
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P/E TM
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Current Stock Chart for LABRADOR IRON MINES HOLDINGS (LIM)

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labrador iron mines holdings (LIM) Details

Labrador Iron Mines Holdings Limited is engaged in the exploration, development, and mining of iron ore projects in Canada. The company focuses on the development and production of its 20 direct shipping iron ore projects, known as the Schefferville Projects located in the Schefferville area of the Labrador. It holds interests in the Schefferville projects that include 4 mining leases covering approximately 510 hectares; 11 surface leases consisting of approximately 2,008 hectares; and 25 mineral rights licenses covering approximately 15,650 hectares in the provinces of Newfoundland and Labrador. The company also has interests in 447 mining claims, which comprise approximately 14,342 hectares, as well as an operating license over 142 mining claims covering approximately 2,050 hectares in Quebec. Labrador Iron Mines Holdings Limited was incorporated in 2007 and is headquartered in Toronto, Canada.

33 Employees
Last Reported Date: 06/30/14
Founded in 2007

labrador iron mines holdings (LIM) Top Compensated Officers

Founder, Chairman and Chief Executive Officer...
Total Annual Compensation: C$475.0K
President and Chief Operating Officer
Total Annual Compensation: C$350.0K
Chief Financial Officer
Total Annual Compensation: C$144.0K
Senior Vice President of Operations
Total Annual Compensation: C$250.0K
Compensation as of Fiscal Year 2013.

labrador iron mines holdings (LIM) Key Developments

Labrador Iron Mines Holdings Limited. Reports Audited Earnings and Operating Results for the Year Ended March 31, 2014

Labrador Iron Mines Holdings Limited. reported audited earnings and operating results for the year ended March 31, 2014. For the fiscal year ended March 31, 2014, the company reported a net loss of $105.2 million or $0.83 per share, which included a depletion and depreciation charge of $33.6 million or $0.27 per share. The increase in the depletion and depreciation charge in fiscal 2014 (2013 - $29.7 million or $0.36 per share) was due to higher mining volumes and an acceleration in the depletion rate for the James Mine. The company recognized net revenue from mining operations of $85.9 million on sales of 1.6 million dry tonnes of iron ore in ten shipments completed during the year. The decrease in net revenue (2013 - $95.7 million) is attributable to higher value-in-use penalties resulting from the lower grades mined and sold, higher marketing discounts and higher ocean freight costs, notwithstanding a marginally higher volume of sales and a modestly higher average CFR China spot price of iron ore. LIM's net revenue is recognized net of deduction of value-in-use adjustments, marketing discounts, ocean freight and IOC's participation. During fiscal 2014, the company invested approximately $16.4 million in property, plant and equipment, related mainly to the completion of Phase 3 of the Silver Yards wet processing plant, completion of grid power connection at Silver Yards and completion of Phase 1 enhancement work on the rail siding at Silver Yards. For the year, the company's total ore mined was 1,945,708 dry metric tonnes compared to 1,828,398 dry metric tonnes a year ago. Waste mined was 2,022,498 dry metric tonnes 3,215,985 dry metric tonnes a year ago. Ore processed and Screened was 2,469,491 dry metric tonnes compared to 954,813 dry metric tonnes a year ago. Lump ore produced was 213,598 dry metric tonnes compared to 98,693 dry metric tonnes a year ago. Sinter fines produced was 1,330,979 dry metric tonnes compared to 693,173 dry metric tonnes a year ago.

Labrador Iron Mines Holdings Limited. Auditor Raises 'Going Concern' Doubt

Labrador Iron Mines Holdings Limited. filed its Annual on Jun 30, 2014 for the period ending Mar 31, 2014. In this report its auditor, McGovern, Hurley, Cunningham, LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Labrador Iron Mines Holdings Limited Announces Financial and Operating Results for the Third Quarter and Nine Months Ended December 31, 2013

Labrador Iron Mines Holdings Limited announced financial and operating results for the third quarter and nine months ended December 31, 2013. During the quarter, LIM sold four shipments of iron ore totalling 680,000 wet tonnes (629,000 dry tonnes) and reported revenue of $28.4 million. The company reported a net loss of $31.3 million or $0.25 per share, which included a depletion and depreciation charge of $11.3 million or $0.09 per share. For the nine months ended December 31, 2013, the company reported a net loss of $84.7 million, negative cash flow from operations of $33.4 million and an ending working capital deficit of $27.1 million. The company operational results for the third quarter. During the third quarter, high volumes of mining, processing, railing and sales were achieved prior to the planned seasonal shutdown, as LIM continued to mine ore at approximately the same monthly rate as in the second quarter. Ore was extracted primarily from the James Mine (445,000 tonnes) and the Ferriman stockpiles (157,000 tonnes), with a small portion from the Redmond Mine (16,000 tonnes), for an aggregate of 618,000 tonnes of ore and 222,000 tonnes of waste mined during the quarter. The iron grade of ore mined during the 2013 operating season continued to be lower than the iron grade of ore mined in previous operating seasons. Processing activities continued until mid-November. A total of 670,000 tonnes of plant feed were processed and screened during the third quarter, producing an aggregate of 438,000 tonnes of lump and sinter iron ore product, yielding a product recovery rate of 65%. While this represented an improvement over the 61% product recovery rate achieved in the preceding quarter, it was still below the combined design plant recovery rate for the wet and dry plants of approximately 75%. Rail haulage continued until the end of November. Railway volumes continued at a strong rate with four train sets of 164 railcars in operation during the quarter and LIM railed a total of approximately 495,000 tonnes of iron ore to the Port of Sept-Iles.

 

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