All of the forward-looking information contained in this press release is given as of the date hereof or such other date or dates specified in the forward-looking statements and is based upon the opinions and estimates of Champion's Management and information available to Management as at the date hereof. Champion disclaims any intention or obligation to update or revise any of the forward-looking information, whether as a result of new information, future events or otherwise, except as required by law. If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements. Champion cautions that the foregoing list of risks and uncertainties is not exhaustive. Readers should carefully consider the above factors as well as the uncertainties they represent and the risks they entail.

Abbreviations

Unless otherwise specified, all dollar figures stated herein are expressed in millions of Canadian dollars, except for: (i) tabular amounts which are in thousands of Canadian dollars; and (ii) per share or per tonne amounts. The following abbreviations and definitions are used throughout this press release: US$ (United States dollar), C$ (Canadian dollar), Fe (iron ore), wmt (wet metric tonnes), dmt (dry metric tonnes), Mtpa (million tonnes per annum), M (million), km (kilometers), GHG (greenhouse gas), LoM (life of mine), Bloom Lake or Bloom Lake mine (Bloom Lake Mining Complex), DRPF (direct reduction pellet feed), Kami Project (Kamistiatusset project), P62 index (Platts IODEX 62% Fe CFR China index), P65 index (Platts IODEX 65% Fe CFR China index), C3 index (C3 Baltic Capesize index), EBITDA (earnings before interest, tax, depreciation and amortization), AISC (all-in sustaining cost), EPS (earnings per share) and Management (Champion's management team). The utilization of "Champion" or the "Company" refers to Champion Iron Limited and/or one, or more, or all of its subsidiaries, as applicable. "IFRS" refers to International Financial Reporting Standards.

For additional information on Champion Iron Limited, please visit our website at: www.championiron.com.

This document has been authorized for release to the market by the Board of Directors.

The Company's unaudited Condensed Consolidated Financial Statements for the three and nine-month periods ended December 31, 2024 (the "Financial Statements") and associated Management's Discussion and Analysis ("MD&A") are available under the Company's profile on SEDAR+ (www.sedarplus.ca), the ASX (www.asx.com.au) and the Company's website (www.championiron.com).

 
  __________________________________________ 
  (1) This is a non-IFRS financial measure, ratio or 
   other financial measure. The measure is not a standardized 
   financial measure under the financial reporting framework 
   used to prepare the financial statements and might 
   not be comparable to similar financial measures used 
   by other issuers. Refer to the section below -- Non-IFRS 
   and Other Financial Measures for definitions of these 
   metrics and reconciliations to the most comparable 
   IFRS measure when applicable. Additional details for 
   these non-IFRS and other financial measures, have 
   been incorporated by reference and can be found in 
   section 21 of the Company's MD&A for the three and 
   nine-month periods ended December 31, 2024, available 
   on SEDAR+ at www.sedarplus.ca, the ASX at www.asx.com.au 
   and the Company's website under the Investors section 
   at www.championiron.com. 
  ----------------------------------------------------------- 
  (2) See the "Currency" subsection of the MD&A for 
   the three and nine-month periods ended December 31, 
   2024, included in section 7 -- Key Drivers, available 
   on SEDAR+ at www.sedarplus.ca, the ASX at www.asx.com.au 
   and the Company's website under the Investors section 
   at www.championiron.com. 
  ----------------------------------------------------------- 
 

Non-IFRS and Other Financial Measures

The Company has included certain non-IFRS financial measures, ratios and supplementary financial measures in this press release to provide investors with additional information in order to help them evaluate the underlying performance of the Company. These measures are mainly derived from the Financial Statements but do not have any standardized meaning prescribed by IFRS and, therefore, may not be comparable to similar measures presented by other companies. Management believes that these measures, in addition to conventional measures prepared in accordance with IFRS, provide investors with an improved ability to understand the results of the Company's operations. Non-IFRS and other financial measures should not be considered in isolation or as substitutes for measures of performance prepared in accordance with IFRS. The exclusion of certain items from non-IFRS financial measures does not imply that these items are necessarily non-recurring.

The Company presents certain of its non-IFRS measures and other financial measures in U.S. dollars in addition to Canadian dollars to facilitate comparability with measures presented by other companies.

EBITDA and EBITDA Margin

 
                                        Q3 FY25  Q2 FY25  Q3 FY24 
(in thousands of dollars) 
Income before income and mining taxes    21,347   31,777  204,981 
Net finance costs                        30,508    7,486    8,747 
Depreciation                             36,361   35,273   32,881 
EBITDA                                   88,216   74,536  246,609 
Revenues                                363,170  350,980  506,891 
EBITDA margin                              24 %     21 %     49 % 
 

Available Liquidity

 
                                     As at December 31,  As at September 30, 
                                     2024                2024 
(in thousands of dollars) 
Cash and cash equivalents                        93,096              183,776 
Undrawn amounts under credit 
 facilities                                     501,919              575,493 
Available liquidity                             595,015              759,269 
 

C1 Cash Cost

 
                                             Q3 FY25    Q2 FY25    Q3 FY24 
Iron ore concentrate sold (dmt)              3,287,400  3,265,700  3,227,500 
 
(in thousands of dollars except per tonne) 
Cost of sales                                  258,728    252,960    235,457 
 
C1 cash cost (per dmt sold)                       78.7       77.5       73.0 
 

All-In Sustaining Cost

 
                                             Q3 FY25    Q2 FY25    Q3 FY24 
Iron ore concentrate sold (dmt)              3,287,400  3,265,700  3,227,500 
(in thousands of dollars except per tonne) 
Cost of sales                                  258,728    252,960    235,457 
Sustaining capital expenditures                 38,193     65,919     24,031 
General and administrative expenses             11,813     12,114     11,206 
                                               308,734    330,993    270,694 
AISC (per dmt sold)                               93.9      101.4       83.9 
 

Cash Operating Margin and Cash Profit Margin

 
                                             Q3 FY25    Q2 FY25    Q3 FY24 
 
Iron ore concentrate sold (dmt)              3,287,400  3,265,700  3,227,500 
 
(in thousands of dollars except per tonne) 
Revenues                                       363,170    350,980    506,891 
Net average realized selling price (per dmt 
 sold)                                           110.5      107.5      157.1 
 
AISC (per dmt sold)                               93.9      101.4       83.9 
Cash operating margin (per dmt sold)              16.6        6.1       73.2 
Cash profit margin                                15 %        6 %       47 % 
 

Gross Average Realized Selling Price per dmt Sold

 
                                               Q3 FY25    Q2 FY25    Q3 FY24 
Iron ore concentrate sold (dmt)                3,287,400  3,265,700  3,227,500 
(in thousands of dollars except per tonne) 
Revenues                                         363,170    350,980    506,891 
Provisional pricing adjustments                   17,407     22,947   (15,997) 
Freight and other costs                          141,568    154,425    140,971 
Gross revenues                                   522,145    528,352    631,865 
 
Gross average realized selling price (per dmt 
 sold)                                             158.8      161.8      195.8 
 

SOURCE Champion Iron Limited

View original content: http://www.newswire.ca/en/releases/archive/January2025/29/c0696.html

/CONTACT:

For further information, please contact: Michael Marcotte, CFA, Senior Vice-President, Corporate Development and Capital Markets, 514-316-4858, Ext. 1128, info@championiron.com

Copyright CNW Group 2025 
 

(END) Dow Jones Newswires

January 29, 2025 17:10 ET (22:10 GMT)