Since Champion Iron’s April 11, 2024 newsletter, Champion Iron Limited (“Champion” or the “Company”) reported production of 3.9 million wet metric tonnes (“wmt”) for the three month period ended June 30, 2024, an 18% increase from the previous quarter.
This production increase was supported by work programs aimed at solidifying operations and the absence of major scheduled semi-annual shutdowns during the period. Additionally, the Company achieved record quarterly sales of 3.4 million dry metric tonnes (“dmt”) of high-purity 66.3% iron ore concentrate. While sales volumes improved in the most recent quarter, haulage services continued to lag Bloom Lake’s production volumes. Accordingly, accumulated iron ore stockpiles at Bloom Lake rose to 3M wmt as at June 30, 2024. The Company continues to seek improvements from the rail operator to receive contracted haulage services to ensure that Bloom Lake’s production, as well as iron ore concentrate currently stockpiled at Bloom Lake, is hauled over future periods.