Champion Iron Reports Strong FY2019 Second Quarter Results

Champion Iron (TSX,ASX:CIA) has announced what it called strong operational and financial results for the second quarter ended September 30, 2018 of the fiscal year end March 31, 2019.

As highlighted in the press release:

• Net income of C$67.5 million for the quarter (C$88.2 million for the first six months);
• Revenues of C$174.7 million up 16 percent from previous quarter (C$325.4 million for the first six months);
• Operating cash flow totalling C$49.6 million for the six-month period;
• Cash on hand of C$115.6 million and trade receivables of C$86.4 million at period end, including two shipments totalling approximately C$31.0 million (US$24.2 million) received on October 2, 2018;
• Production of 1,858,300 wmt of high-grade 66 percent iron ore concentrate and 4,024,500 wmt since the mine commenced operations;
• Total cash costof C$45.2 per dmt sold and an all-in sustaining cost of C$52.9 per dmt sold

Click here to read the full Champion Iron (TSX,ASX:CIA) press release.