The Company's unaudited Condensed Consolidated Financial Statements for the three and six-month periods ended September 30, 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 22 of the Company's MD&A for the three and six-month periods ended September 30, 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 six-month periods ended September 30, 2024, included in section 8 -- 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
Q2 FY25 Q1 FY25 Q2 FY24
(in thousands of dollars)
Income before income and mining taxes 31,777 137,377 112,187
Net finance costs 7,486 8,259 11,634
Depreciation 35,273 35,524 31,215
EBITDA 74,536 181,160 155,036
Revenues 350,980 467,084 387,568
EBITDA margin 21 % 39 % 40 %
Available Liquidity
As at September 30, As at June 30,
2024 2024
(in thousands of dollars)
Cash and cash equivalents 183,776 259,859
Undrawn amounts under credit
facilities 575,493 600,913
Available liquidity 759,269 860,772
C1 Cash Cost
Q2 FY25 Q1 FY25 Q2 FY24
Iron ore concentrate sold (dmt) 3,265,700 3,442,800 2,883,800
(in thousands of dollars except per tonne)
Cost of sales 252,960 264,911 212,584
C1 cash cost (per dmt sold) 77.5 76.9 73.7
All-In Sustaining Cost
Q2 FY25 Q1 FY25 Q2 FY24
Iron ore concentrate sold (dmt) 3,265,700 3,442,800 2,883,800
(in thousands of dollars except per tonne)
Cost of sales 252,960 264,911 212,584
Sustaining capital expenditures 65,919 38,008 60,446
General and administrative expenses 12,114 12,350 12,729
330,993 315,269 285,759
AISC (per dmt sold) 101.4 91.6 99.1
Cash Operating Margin and Cash Profit Margin
Q2 FY25 Q1 FY25 Q2 FY24
Iron ore concentrate sold (dmt) 3,265,700 3,442,800 2,883,800
(in thousands of dollars except per tonne)
Revenues 350,980 467,084 387,568
Net average realized selling price (per dmt
sold) 107.5 135.7 134.4
AISC (per dmt sold) 101.4 91.6 99.1
Cash operating margin (per dmt sold) 6.1 44.1 35.3
Cash profit margin 6 % 32 % 26 %
Gross Average Realized Selling Price per dmt Sold
Q2 FY25 Q1 FY25 Q2 FY24
Iron ore concentrate sold (dmt) 3,265,700 3,442,800 2,883,800
(in thousands of dollars except per tonne)
Revenues 350,980 467,084 387,568
Provisional pricing adjustments 22,947 (27,947) (1,559)
Freight and other costs 154,425 151,547 102,411
Gross revenues 528,352 590,684 488,420
Gross average realized selling price (per dmt
sold) 161.8 171.6 169.4
SOURCE Champion Iron Limited
View original content: http://www.newswire.ca/en/releases/archive/October2024/30/c3019.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 2024
(END) Dow Jones Newswires
October 30, 2024 17:42 ET (21:42 GMT)
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