Labrador Iron Mines Announces Third Shipment of Iron Ore for 2013
Notice of First Quarter Results Conference Call and Webcast
TSX: LIM
TORONTO, July 22, 2013 /CNW/ - Labrador Iron Mines Holdings Ltd. ("LIM" or the "Company") (TSX: LIM) is pleased to announce that its third shipment of iron ore departed from the Port of Sept-Îles on July 19, 2013. The third shipment was carrying approximately 186,000 wet metric tonnes of iron ore at an average grade of 62% Fe. The fourth vessel is scheduled to arrive at the Port towards the end of July.
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Notice of Labrador Iron Mines First Quarter Results
LIM will be releasing its June 2013 First Quarter results before the market opens on Thursday, August 15, 2013. LIM's financial statements and Management's Discussion and Analysis will be available on the Company's website and filed on SEDAR (www.sedar.com).
Members of the senior management team will host a conference call and webcast on Thursday, August 15, 2013 at 11:00 am (ET) to discuss the results.
Via Conference Call (Telephone):
Local and International: +1 (647) 427-7450
Canada and US Toll-free: +1 (888) 231-8191
Please reference "Labrador Iron Mines First Quarter Conference Call" when prompted.
Via Webcast:
A live audio webcast will be available on LIM's homepage at www.labradorironmines.ca.
Replay:
For those who are unable to participate in the live conference call, a replay will be available until the end of day on August 29, 2013.
Local and International: +1 (416) 849-0833
Canada and US Toll-free: +1 (855) 859-2056
Passcode: 218 847 71#
The webcast will be archived on LIM's website for 180 days.
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About Labrador Iron Mines Holdings Ltd. (LIM)
Labrador Iron Mines (LIM) is Canada's newest iron ore producer with a portfolio of direct shipping (DSO) iron ore operations and projects located in the prolific Labrador Trough. Initial production commenced at the James Mine in June 2011, and through 2012, iron ore sales have totalled 2.0 million dry tonnes in 13 shipments into the Chinese spot market.
Now in its third year of operations, LIM has sold three shipments of iron ore to date and is targeting 1.75 to 2.0 million tonnes of saleable iron ore production in 2013.
The James Mine is connected by a direct rail link to the Port of Sept-Îles, Québec. The operation also benefits from established infrastructure including the town, airport, hydro power and railway service. Starting with the James Mine and leading to the development of the expanding Houston flagship project, LIM's objective is to provide shareholders with long-term value with a plan to increase production towards 5 million tonnes per year from its iron ore deposits in Labrador and Quebec, all within 50 kilometres of the town of Schefferville.
LIM is currently the only independently-owned Canadian iron ore producer listed on the Toronto Stock Exchange and trades under the symbol LIM.
Cautionary Statements:
The terms "iron ore" and "ore" in this document are used in a descriptive sense and should not be considered as representing current economic viability.
Forward Looking Statement:
Some of the statements contained in this Press Release may be forward-looking statements which involve known and unknown risks and uncertainties relating to, but not limited to, the Company's expectations, intentions, plans and beliefs. Forward-looking information can often be identified by forward-looking words such as "anticipate", "believe", "expect", "goal", "plan", "intend", "estimate", "may" and "will" or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information may include reserve and resource estimates, estimates of future production, unit costs, costs of capital projects and timing of commencement of operations, and is based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, failure to establish estimated resources and reserves, the grade and recovery of ore which is mined varying from estimates, capital and operating costs varying significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, delays in the development of projects, changes in exchange rates, fluctuations in commodity prices, inflation and other factors. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from expected results. There can be no assurance that the Company will be successful in maintaining any agreement with any First Nations groups who may assert aboriginal rights or may have a claim which affects the Company's properties or may be impacted by the Schefferville Projects. Shareholders and prospective investors should be aware that these statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. Shareholders and prospective investors are cautioned not to place undue reliance on forward-looking information. By its nature, forward-looking information involves numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and various future events will not occur. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect this information, except as required by law.
SOURCE Labrador Iron Mines Holdings Ltd.