Q3 2025 Champion Iron Ltd Earnings Call Transcript
Key Points
- Champion Iron Ltd (CIAFF) managed to produce over 3.6 million tonnes and sell just under 3.3 million tonnes despite a challenging quarter.
- The company reported no significant environmental issues during the quarter.
- Champion Iron Ltd (CIAFF) continued to strengthen partnerships with First Nations and Newfoundland and Labrador communities.
- The company achieved a record quarter in terms of waste mined and ore mined, indicating successful investments in mining equipment.
- Champion Iron Ltd (CIAFF) signed an agreement with Nippon Steel and Sojitz for the Kami Project, valuing it at CAD500 million, which will be funded by partners.
- An unplanned event at the load-out resulted in a 14-day halt, impacting shipping and sales capacity.
- The company faced a provisional price adjustment of USD4 per tonne negative on the 3.3 million tonnes sold.
- Operating costs remained high, with extra maintenance and re-handling of material contributing to costs.
- Champion Iron Ltd (CIAFF) experienced a significant cash reduction from $180 million to $90 million, partly due to high CapEx and dividend payments.
- The company missed EPS consensus forecasts due to a noncash impact from exchange rate changes affecting debt facilities.
Good morning, ladies and gentlemen, and welcome to Champion's Q3 results of the financial year 2025 conference call. (Operator Instructions) This call is being recorded on Thursday, January 30, 2025.
I would now like to turn the conference over to Michael Marcotte, Senior Vice President, Corporate Development. Please go ahead.
Thank you, operator, and thank you, everybody, for joining our call today. Before we'd like to get going, I'd turn people to our website at championiron.com where you can find the presentation to be used on this webcast under the Events & Presentation tab.
Also I'd like to remind people that throughout this webcast, we'll be making forward-looking statements. If you'd like to read more with regards to our forward-looking statements, risks and assumptions, you can visit our MD&A also available on our website.
Joining me today are many of our executives, including our CEO, David Cataford, who will be
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