Champion Iron Reports Strong FY2019 Third Quarter Results

Champion Iron (TSX:CIA,ASX:CIA) has announced its operational and financial results for the third quarter ended December 31, 2018.

The company said that it had achieved record monthly production of 697,700 wet metric tonnes, and a strong operating cash flow of C$89 million for the quarter.

As highlighted in the press release:

• Production of 1,791,300 wmt of high-grade 66.4 percent iron ore concentrate and 5,815,800 wmt since the mine commenced operations in February 2018;
• Total cash cost of C$49.4/dmt (C1) and an all-in sustaining cost of C$55.5/dmt.
• Net income of C$31.2 million for the quarter and C$119.4 million for the nine-month period ended December 31, 2018;
• Revenues of C$147.5 million for the third quarter and C$473.0 million for the nine-month period ended December 31, 2018;
• Operating cash flow totalling C$89.1 million for the quarter and C$138.7 million for the nine-month period ended December 31, 2018;
• Cash on hand of C$185 million as of December 31, 2018, an increase of C$160 million compared to cash on hand of C$25 million as of April 1, 2018.

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