Labrador Iron Mines

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Investor Presentation

Fact Sheet


What's New

August 23, 2016

Labrador Iron Mines Reports First Quarter Results


August 19, 2016

Notice of Annual Meeting of Shareholders to be held September 20, 2016


August 19, 2016

Management Information Circular for the Annual Meeting of Shareholders to be held September 20, 2016


August 19, 2016

Form of Proxy for the Annual Meeting of Shareholders to be held September 20, 2016


July 29, 2016

Labrador Iron Mines Reports Fiscal 2016 Year-End Results and Corporate Update


June 30, 2016

Labrador Iron Mines CCAA Extended to September 30, 2016


May 19, 2016

Unnamed Tributary Presentation


May 19, 2016

Redmond Creek Presentation_May 2016


April 18, 2016

Notice to Creditors


April 18, 2016

Labrador Iron Mines CCAA Claims Process Approved


December 16, 2015

Labrador Iron Mines CCAA Extended to June 30, 2016


November 26, 2015

LIM Reports Second Quarter Results


September 15, 2015

Annual Meeting of Shareholders: Remarks of Chairman & CEO


More News

April 10, 2015

John Kearney on BNN's Commodities



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Labrador Iron Mines (LIM) is engaged in the mining, exploration and development of direct shipping (DSO) deposits located in the Schefferville/Menihek region of the prolific Labrador Trough. Production commenced at the James Mine and Silver Yards plant in 2011 and through to the end of its third operating year, the Company sold approximately 3.6 million dry tonnes (3.8 million wet tonnes) in 23 shipments of iron ore into the Chinese spot market.

LIM did not undertake any mining operations in the 2014 or 2015 operating seasons due to the deteriorating iron ore market conditions and particularly in the context of LIM's previous high operating costs. LIM's current focus is completing its financial restructuring and seeking additional financing.

LIM is also working on development of its Houston Mine, to be in a position to complete construction and begin mining operations from Houston when market conditions permit, subject to completion of financing and negotiation of major contracts.

On April 2, 2015, LIM instituted proceedings in the Ontario Superior Court of Justice (the "Court") for a financial restructuring by means of a plan of compromise or arrangement under CCAA and was granted an order (the "Court Order"), as amended and extended providing creditor protection until June 30, 2016. LIM believes that the extension will provide time to develop and seek Court approval of a claims process and restructuring plan and to complete a reasonably detailed, business plan to preserve the value of LIM’s business and core assets following exit from the CCAA process and pending an improvement in the iron ore price environment.

LIM initiated proceedings under CCAA to provide an opportunity for the orderly restructuring of its business and financial affairs, so as to enable LIM to emerge with a viable business in the most favourable position to secure additional development financing to proceed with the development of the Houston Project and continue as a going concern.

The LIM Advantage

 

Latest News

  • 20 Direct Shipping (DSO) iron ore deposits in western Labrador and Quebec
  • Extensive infrastructure in place from previous IOC operations including power, airport, roads, 565km of rail, deep sea port
  • Low capex open-pit mining, technically simple processing
  • High quality lump and fines products suitable for Asian and European markets
 



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