|
News Centre
|
Press Releases
Labrador Iron Mines reports on regulatory approvals for the
Schefferville Area Iron Ore Project, Western Labrador |
Release Date: 16-03-2009 |
March 16, 2009. Toronto, Ontario - Labrador Iron Mines Holdings Limited (TSX: LIR) reports that the Department of Environment and Conservation of Newfoundland and Labrador has completed its review of the Company's Environmental Impact Statement ("EIS") of its Schefferville Area Iron Ore Project (the "Project") located in western Labrador, near the town of Schefferville, Quebec, submitted on December 19, 2008.
The Minister of Environment and Conservation has requested some additional information to supplement the EIS relating to the potential use of the area by woodland caribou, clarification on
residue disposal options and surface water protection, together with additional details on mitigative measures and clarification of storm water management proposals. No additional field work will
be required to submit the requested information, most of which has already been collected by the Company.
The Canadian Environmental Assessment Agency ("CEAA") has also completed its review of the Project and has determined that a federal level Canadian Environmental Assessment is not required. This decision was made following the recent receipt of a determination by the Department of Fisheries and Oceans, that a Harmful Alteration, Disruption, or Destruction authorization will not be required for the Project. Other federal agencies, including Environment Canada, Transport Canada, Natural Resources Canada, Health Canada and the Canadian Transportation Agency, have also completed their reviews and confirmed that they had no triggers for a federal level environmental assessment. In addition, the Major Projects Management Office
has declared that the Project does not constitute a major natural resources project.
Following submission of the requested additional information to the Department of Environment and Conservation of Newfoundland and Labrador, a further public and ministerial review period is
required by law. This further review period, together with the time to prepare the submission, is likely to take in the order of 100 days, and this may limit the scope of work that the Company will
be able to carry out in the 2009 summer season. Assuming timely receipt of Project approval and permitting from the Province by mid-summer, the Company expects to be in a position to initiate
construction and development work during 2009 in preparation for the start of full commercial production in the spring of 2010. The Company had hoped to be able to commence initial production and deliver its first shipment of iron ore towards the end of the 2009 working season. |
Click for more. |
Labrador Iron Mines' Third Quarter Highlights Strong Cash Position
Towards Production Start-Up |
Release Date: 17-02-2009 |
TORONTO, February 17, 2009 - Labrador Iron Mines Holdings Limited (TSX:LIR) announces that it has filed its unaudited Financial Statements and MD&A for the third quarter and nine months ended December 3, 2008. The reports are available under the Company's profile at www.sedar.com or on the Company's website at www.labradorironmines.ca.
Cash and cash equivalents at December 31, 2008 stand at 37.7 million. The Company has no borrowings or debt and remains ion excellent financial condition to initiate production from the Phase One deposits of its Schefferville Area direct shipping iron ore project. Start-up of initial production is targeted for the summer of 2009 subject to final project approvals and timely receipt of operating permits and licenses. |
Click for more. |
Labrador Iron Mines appoints Vice President Investor Relations |
Release Date: 02-02-2009 |
TORONTO, February 2, 2009 - Labrador Iron Mines Holdings Limited (TSX: LIR) is pleased to announce the appointment of Mrs. Donna Yoshimatsu to the position of Vice President, Investor Relations. Based in the Company's Toronto office, she will provide direction over the Company's investor relations and corporate communications initiatives.
Mrs. Yoshimatsu has held prominent positions with public companies in the industrial and resource sectors for over twenty years. These include SNC-Lavalin Group, Franco and Euro-Nevada Mining Corporations, and more recently as senior consultant to a spectrum of junior and mid-tier resource companies. She is a long standing member of the Canadian Investor Relations Institute and assists in the advisory program for capital markets. |
Click for more. |
Half Year Financial Results reported - Strong Cash Position $43.5 Million
Schefferville Iron Ore Project Advances Toward Production
|
Release Date: 17-11-2008 |
Toronto, Canada, November 17, 2008. Labrador Iron Mines Holdings Limited(TSX: LIR) announces that it has filed
its unaudited Interim Consolidated Financial Statements and Management's Discussion and Analysis for the half-year ended
September 30, 2008, which may be inspected under the Company's profile at www.sedar.com or on the Company's website
at www.labradorironmines.ca
At September 30, 2008, the Company had $43.5 million in cash and current assets and is in a healthy financial condition to
carry out its planned programs to move its Schefferville direct shipping iron ore project in western Labrador into production.
During the three and six month periods ended September 30, 2008 the Company invested $5,223,635 and $6,568,801
respectively, (including $172,854 and 335,675 respectively in stock-based compensation on options granted to exploration
and operating employees) on its mineral properties, the principal components of which were geology, engineering,
environmental, permitting and community consultation. For details refer to Note 3 to the interim Consolidated Financial
Statements. |
Click for more. |
Announces Normal Course Issuer Bid |
Release Date: 30-09-2008 |
Toronto, Canada, September 30 2008 - Labrador Iron Mines Holdings limited (TSX: LIR)announces that it intends to conduct, subject to regulatory approval, a normal course issuer bid (the "Bid") pursuant to which the Company may purchase up to a maximum of 684,140 common shares in the capital of the Company (the "Shares"), representing approximately 10.0% of the public float of the Company of 37,193,951 as at September 29, 2008.
The Company is of the view that the recent market prices of the shares do not properly reflect the underlying value of the Company's assets. No insiders of the Company intend to participate in the Bid. |
Click for more. |
PROGRESS REPORT AT SHAREHOLDER MEETING |
Release Date: 17-09-2008 |
Toronto, Canada, September 17, 2008. Labrador Iron Mines Holdings Limited (TSX: LIR) reports that at the Annual Meeting held in Toronto on September 16th shareholders were told that good progress has been made during the summer months on the Company's direct-shipping Schefferville Iron Ore Project in western Labrador.
Resource Definition Drilling:
A program of definition drilling is being undertaken on the four deposits which comprise the first development phase of the Schefferville project. A total of 51 reverse circulation holes have been drilled to date. In addition a program of diamond drilling is being carried out on the outlying Sawyer Lake Property Where seven holes having been drilled to date.
The results of the drilling will be utilized in the preparation of updated compliant resource estimates, which will be incorporated in a new 43-101 technical report expected to be completed by year end. The historical resources in the Company's eight deposits were previously estimated at 93 million tons, with in-situ grades of 56%-58% Fe, based on previous work undertaken by the Iron Ore Company of Canada prior to 1983. These historical resource estimates are not NI 43-101 compliant. |
Click for more. |
Permit Process Initiated
Agreement Signed with Labrador Innu
|
Release Date: 05-05-2008 |
Toronto, ON, May 6, 2008. Labrador Iron Mines Holdings Limited (TSX:LIR) reports that it has submitted the Project Registration Application for the first phase of development of the Company's Schefferville iron ore project to the Department of Environment and Conservation in the Province of Newfoundland and Labrador and to the Canadian Environmental Assessment Agency (CEAA).
The Company is also pleased to announce that it has signed a Memorandum of Understanding with the Labrador Innu with respect to the development of the Schefferville iron ore project.
|
Click for more. |
New Senior Management Appointments |
Release Date: 11-03-2008 |
Toronto, ON, March 11, 2008. Labrador Iron Mines Holdings Limited (TSX:LIR) is pleased to announce senior management appointments for its Direct Shipping Ore Project, located in the Province of Newfoundland and Labrador, near Schefferville, Quebec. |
Click for more. |
Closing of Initial Public Offering Over-Allotment Option
Additional $6.9 million |
Release Date: 08-01-2008 |
Toronto, ON, January 08, 2008. Labrador Iron Mines Holdings Limited (TSX:LIR) is pleased to announce that it has closed the sale of an additional 1,720,950 units of the Company for gross proceeds of $6,883,800 to complete its Initial Public Offering, following the full exercise by the agent, Canaccord Capital Corporation, of its over-allotment option.
As part of the Initial Public Offering of $45,892,000, which closed December 3, 2007, the Company had granted Canaccord Capital Corporation an over-allotment option, exercisable for a period of 30 days following the closing of the offering, to offer for sale up to an additional 15% of the number of units issued pursuant to the offering at a price of $4.00 per unit.
Including exercise of the over-allotment option, the Initial Public Offering consisted of 13,193,950 units at an issue price of $4.00 per unit raising total gross proceeds of $52,775,800. Each unit consisted of one common share and one-half of one common share purchase warrant, each whole warrant exercisable to purchase one additional common share at a price of $5.00 per share at any time prior to December 3, 2009. |
Click for more. |
Initial Public Offering Increased to Aggregate Gross Proceedings of $52.8 million
Over-Allotment Option Exercised |
Release Date: 02-01-2008 |
Toronto, ON, January 02, 2008. Labrador Iron Mines Holdings Limited (the "Company") (TSX:LIR) is pleased to announce that Canaccord Capital Corporation, the agent in the Company's recently completed initial public offering, has exercised in full its over-allotment option to offer for sale an additional 1,720,950 units of the Company for gross proceeds of $6,883,800.
As part of the Initial Public Offering, which closed December 3, 2007, the Company had granted Canaccord Capital Corporation an over-allotment option, exercisable for a period of 30 days following the closing of the offering, to offer for sale up to an additional 15% of the number of units issued pursuant to the offering at a price of $4.00 per unit.
The offering consisted of 11,473,000 units at an issue price of $4.00 per unit. Exercise of the over-allotment option has increased the size of the Initial Public Offering to 13,193,950 units raising total gross proceeds of $52,775,800. Each unit consists of one common share and one-half of one common share purchase warrant, each whole warrant exercisable to purchase one additional common share at a price of $5.00 per share at any time prior to 24 months from the closing of the offering. The closing of the over-allotment option is anticipated to take place on January 8, 2008.
The common shares and warrants of Labrador Iron Mines Holdings Limited are listed on the Toronto Stock Exchange under the symbols 'LIR' and 'LIR.WT', respectively.
|
Click for more. |
Closing of Initial Public Offering
$46 Million Financing
Shares and Warrants Listed on Toronto Stock Exchange
|
Release Date: 03-12-2007 |
Toronto, ON, December 03, 2007. Labrador Iron Mines Holdings Limited (TSX:LIR) is pleased to announce that it has closed its Initial Public Offering and raised gross proceeds of $45,892,000.
The offering consisted of 11,473,000 units at a price of $4.00 per unit. Each unit consists of one common share and one-half of one common share purchase warrant, each whole warrant exercisable to purchase one additional common share at a price of $5.00 per share at any time prior to 24 months from the closing of the Offering.
Canaccord Capital Corporation acted as Agent in the Offering.
In addition, the Company has granted Canaccord an over-allotment option, exercisable for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the number of units issued pursuant to the Offering at a price of $4.00 per unit.
TSX Listing -- Stock Ticker Symbol -- 'LIR'.
The Company is also pleased to announce that its shares and warrants have been approved for listing on the Toronto Stock Exchange (TSX) and will commence trading on December 3, 2007.
The Stock Ticker Symbols on the TSX are:
Common Shares 'LIR'
Warrants 'LIR.WT' |
Click for more. |
LIM Announces Filing of Final Prospectus
Approval of Listing on Toronto Stock Exchange (Symbol "LIR") |
Release Date: 27-11-2007 |
Toronto, ON, November 27, 2007. Labrador Iron Mines Holdings Limited ('LIR' or the 'Company') is pleased to announce that the Final Prospectus in connection with the proposed Initial Public Offering of units of the Company has been filed with, and receipted by, the securities regulatory authorities in each of the provinces of Canada, except for Quebec, and that the Toronto Stock Exchange has conditionally approved the listing of the Company's common shares and common share purchase warrants.
The Company has agreed with Canaccord Capital Corporation, as agent, to offer 11,473,000 units at a price of $4.00 per unit (the 'Offering'). Each unit consists of one common share and one-half of one common share purchase warrant, each whole warrant exercisable to purchase one additional common share at a price of $5.00 per share at any time prior to 24 months from the closing of the Offering. The Offering is expected to close on or about December 3, 2007.
The Company's shares and warrants have been conditionally approved for listing on the Toronto Stock Exchange (TSX) and are expected to commence trading on an if, as and when issued basis on November 27, 2007.
The Stock Ticker Symbols on the TSX are:
Common Shares LIR
Warrants LIR.WT
In addition, the Company has granted Canaccord an over-allotment option (the 'Over-Allotment Option'), exercisable for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the number of units issued pursuant to the Offering at a price of $4.00 per unit.
|
Click for more. |
LIM Announces Pricing of the Proposed Initial Public Offering |
Release Date: 13-11-2007 |
Toronto, ON, November 13, 2007. Labrador Iron Mines Holdings Limited ('LIM' or the 'Company') is pleased to announce that in connection with the proposed Initial Public Offering of units (the 'Offering'), the Company has agreed with the lead agent, Canaccord Capital Corporation, to offer 11,473,000 units at a price of $4.00 per unit for aggregate gross proceeds to the Company of $45,892,000.
Each unit consists of one common share and one-half of one common share purchase warrant, each whole warrant exercisable to purchase one additional common share at a price of $5.00 per share at any time prior to 24 months from the closing of the Offering.
In addition, the Company has granted Canaccord an over-allotment option (the 'Over-Allotment Option'), exercisable for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the number of units issued pursuant to the Offering. If the Over-Allotment Option is exercised in full, then LIM will receive aggregate gross proceeds of $52,775,800.
|
Click for more. |
To view all News Releases of Labrador Iron Mines Holdings Limited, please click here.
To view all public documents of Labrador Iron Mines Holdings Limited filed with SEDAR, please click here.
|
|