Labrador Iron Ore Royalty Corporation Announces Results of Election of Directors
Labrador Iron Ore Royalty Corporation announced the results of the election of directors at its annual and special meeting of holders of common shares held today by way of a virtual meeting. The following nominee directors listed in the Corporation’s management information circular dated April 9, 2021 were elected as directors of the Corporation. The vote was conducted by electronic ballot. The number of common …
Labrador Iron Ore Royalty Corporation (the ” Corporation “) (TSX: LIF) announced the results of the election of directors at its annual and special meeting of holders of common shares held today by way of a virtual meeting.
(1) of $17.8 million ($0.43 per share
(1)) for the quarter ended March 31, 2021 which was up 9% from royalty revenue of $16.3 million ($0.39 per share) reported in Q1 2020.
Adjusted EBITDA
(1) for the quarter was $14.6 million or $0.35 per share, up 15% from Adjusted EBITDA of $12.7 million ($0.30 per share
(1)) in Q1 2020. The adjusted EBITDA margin for the quarter was 82%.
Adjusted operating cash flow of $8.8 million or $0.21 per share is down by 33% from the comparable quarter last year mainly because of the deferred timing of corporate tax installments during the prior year period.
Net earnings in Q1 2021 are $11.8 million, and on an adjusted basis are $6.3 million or $0.14 per share compared to $3.4 million or $0.08 per share of adjusted earnings in Q1 2020. The main adjusting items in the current quarter are a $0.09 gain on fair value of a derivative (due to increases in unrealized value of warrants in the junior equity portfolio) and a reversal of an impairment charge re
Labrador Iron Ore Royalty Corporation announced today its operation and cash flow results for the first quarter ended March 31, 2021 . Financial Performance In the first quarter of 2021, LIORC’s financial results benefited from higher iron ore prices and pellet premiums, partially offset by lower volumes of pellet sales. Royalty revenue for the first quarter of 2021 amounted to $65.2 million compared to $47.6 …
Labrador Iron Ore Royalty Corporation (“LIORC”) (TSX: LIF) announced today its operation and cash flow results for the first quarter ended March 31, 2021 . Financial Performance In the first quarter of 2021, LIORC’s financial results benefited from higher iron ore prices and pellet premiums, partially offset by lower volumes of pellet sales. Royalty revenue for the first quarter of 2021 amounted to $65.2 million compared to $47.6 million for the first quarter of 2020. Equity earnings from Iron Ore Company of Canada (“IOC”) were $57.0 million in th
240.5
For Q1/2021, revenue was sourced 85.4% from gold and gold equivalents (61.6% gold, 15.4% silver, 6.3% PGM and 2.1% other mining assets). Geographically, revenue was sourced 90.4% from the Americas (28.8% South America, 22.1% Central America & Mexico, 21.5% U.S. and 18.0% Canada).
Portfolio Additions
Vale Royalty Debentures: As previously announced, on April 16, 2021, the Company acquired 57 million of Vale S.A. s ( Vale ) outstanding participating debentures ( Royalty Debentures ) for $538 million. Royalty payments are made on a semi-annual basis on March 31st and September 30th of each year reflecting sales in the preceding half calendar year period. The first payment for H1/2021 will be payable to Franco-Nevada on September 30, 2021, reflecting a net sales royalty for the period January 1, 2021 to June 30, 2021.
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MONTREAL, May 4, 2021 /CNW/ - The Canadian Institute of Mining, Metallurgy and Petroleum (CIM) is proud to have represented the Canadian mining industry for 123 years. As with many organizations, the global pandemic threatened to impact how CIM supports its members, partners and the broader mining, minerals, metals and materials community, as well as how it generates revenue.
Following the cancellation of its 2020 conference as a result of the pandemic, CIM reached out to industry partners for support under the Corporate Patron Initiative and they answered the call. To date, 35 companies have stepped up to provide a total of $1.72 million to CIM, well on the way to its goal of $2 million, as it adapts its services to the absence of in-person events and onto the online environment where the 2021 CIM Virtual Convention + EXPO takes place this week.