Last C$0.08 CAD
Change Today +0.005 / 6.67%
Volume 138.9K
LIM On Other Exchanges
As of 3:59 PM 08/21/14 All times are local (Market data is delayed by at least 15 minutes).

labrador iron mines holdings (LIM) Snapshot

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08/21/13 - C$0.53
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07/14/14 - C$0.06
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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 2014.

labrador iron mines holdings (LIM) Key Developments

Labrador Iron Mines Holdings Limited. Proposes Amendments to By-Laws

Labrador Iron Mines Holdings Limited. proposed to approve an ordinary resolution to confirm By-Law No. 2 of the Corporation which amends the Corporation's general By-Laws to ensure the Corporation may make use of the "notice-and-access", to its annual and special shareholders meeting to be held on September 18, 2014.

Labrador Iron Mines Holdings Limited Announces Earnings Results for the First Quarter Ended June 30, 2014

Labrador Iron Mines Holdings Limited announced earnings results for the first quarter ended June 30, 2014. For the first quarter ended June 30, 2014, LIM reported a net loss of $4.0 million, or $0.03 per share, which included a depletion and depreciation charge of $1.3 million, or $0.01 per share. During the fiscal first quarter, LIM invested $0.06 million in property plant and equipment.

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.


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