Latest news with #Champion
Yahoo
4 hours ago
- Entertainment
- Yahoo
Hulk Hogan Dead At 71
Hulk Hogan has passed away. TMZ is reporting Hogan (Terry Bollea) passed away at his Clearwater, Florida home on Thursday morning. According to the report, medics were called to Hogan's home regarding a 'cardiac arrest.' Several first responder vehicles were spotted outside the home, and Hogan was transported into an ambulance on a stretcher. No other details about the situation were reported at press time of the original story. A new live update from TMZ claims that Hogan was pronounced dead at the hospital. Hulk Hogan is one of the most decorated pro wrestlers of all time. He is a six-time WWF/WWE Champion, and a six-time WCW World Champion. He also won the IWGP Heavyweight Championship in Japan, and was a two-time WWE Hall Of Famer, inducted in 2005 and 2020. Hogan was known for his 'Hulkamania' run in WWE, and his infamous 'heel' turn as Hollywood Hulk Hogan in WCW. Hulk went through a rough period after audio of him using racist slurs was leaked in 2015. He was effectively blackballed from the pro wrestling business for some time, but WWE eventually welcomed him back. Hogan drew a considerable amount of press due to his links to Donald Trump and the 2024 Presidential Election, including his appearance at the Republican National Convention. Hogan recently started his own beer brand, Real American Beer, and was set to host the debut freestyle wrestling event with his new promotion, Real American Freestyle, in August. WrestleZone sends our condolences to the friends and family of Hulk Hogan at this time. Read More: Hulk Hogan's health was the subject of recent rumors Rumors about Hulk Hogan's health surfaced in recent weeks. Former friend Bubba 'The Love Sponge' claimed Hogan was on his deathbed multiple times. In June, he claimed Hogan 'might not make it' out of the hospital. However, Hogan's wife, Sky Daily, refuted the initial claim. To the contrary, Daily said that Hogan was healthy. According to TMZ, Hogan was not on his deathbed, but had been dealing with the same ailments he's been battling in recent years. PWInsider also confirmed that Hogan was indeed hospitalized, but for 'adverse reactions' following a recent neck surgery. Jimmy Hart dispelled more rumors about Hogan's health this week, claiming that his friend was 'doing great' and 'phenomenal.' Hart said that Hogan appeared at a karaoke night at his bar in Florida and seemed fantastic. The post Hulk Hogan Dead At 71 appeared first on Wrestlezone. Solve the daily Crossword
Cision Canada
18 hours ago
- Business
- Cision Canada
CHAMPION IRON REPORTS ITS FY2026 FIRST QUARTER RESULTS, AND ADVANCES THE DRPF PROJECT AS SCHEDULED Français
Quarterly production of 3.5M wmt, record level of sales of 3.8M dmt, revenue of $390M, EBITDA of $58M 1 and EPS of $0.05 Reduced inventories of iron ore concentrate stockpiled at Bloom Lake by 0.4M wmt to 2.1M wmt DRPF project progressing as scheduled toward an expected start for commissioning in December 2025 Refinanced Senior Credit Facilities with a US$500M Senior Unsecured Notes offering, strengthening the Company's financial flexibility MONTRÉAL, July 29, 2025 /CNW/ - SYDNEY, July 30, 2025 - Champion Iron Limited (TSX: CIA) (ASX: CIA) (OTCQX: CIAFF) ("Champion" or the "Company") reports its operational and financial results for its financial first quarter ended June 30, 2025. Champion's CEO, Mr. David Cataford, said, "Our agile workforce remains focused on optimizing operations as we strategically position our Company to capitalize on the anticipated growth in demand for high-purity iron ore. Improving transportation logistics enabled us to achieve record quarterly iron ore concentrate sales volumes while further reducing stockpiled iron ore inventories at Bloom Lake. The DRPF project remains on track, and we recently achieved a significant milestone for the Kami Project by entering into a framework agreement with Nippon Steel Corporation and Sojitz Corporation. The framework agreement and the partnership contemplated, will allow us to advance the Kami Project without compromising our financial liquidity in the foreseeable future. Additionally, our successful US$500M Senior Unsecured Notes offering in July replaced our previous credit facilities, reinforcing our balance sheet with greater flexibility and long-term stability. As we continue to de-risk our project portfolio, our commitment remains to maximizing shareholder value while maintaining a disciplined capital management approach." Conference Call Details Champion will host a conference call and webcast on July 30, 2025, at 9:00 AM (Montréal time) / 11:00 PM (Sydney time) to discuss the results of the financial first quarter ended June 30, 2025. The conference call details are set out at the end of this press release. 1. Quarterly Highlights Operations and Sustainability No serious injuries or major environmental incidents were reported in the three-month period ended June 30, 2025; Quarterly production of 3.5 million wmt (3.4 million dmt) of high-grade 66.3% Fe concentrate for the three-month period ended June 30, 2025, down 9% over the same period last year, impacted by higher hardness of processed ore and lower availability of both concentration plants; Record quarterly sales of 3.8 million dmt for the three-month period ended June 30, 2025, up 10% from the previous quarter and 11% from the same prior-year period, despite scheduled semi-annual maintenance on third-party rail infrastructure in June 2025. As a result, iron ore concentrate stockpiled at Bloom Lake decreased by 440,000 wmt quarter-over-quarter to 2.1 million wmt as at June 30, 2025; and Material mined and hauled at Bloom Lake reached a record 21.0 million tonnes for the three-month period ended June 30, 2025, an increase of 20% compared to the same period last year, supported by the recent addition of mining equipment. Financial Results Gross average realized selling price of US$105.5/dmt 1, compared to the P65 index average of US$108.4/dmt in the period; Net average realized selling price of US$73.4/dmt 1, a decrease of 14% quarter-over-quarter and 26% year-over-year; C1 cash cost for the iron ore concentrate loaded onto vessels at the Port of Sept-Îles totalled $81.9/dmt 1 (US$59.2/dmt) 2, representing an increase of 2% quarter-over-quarter and 7% year-over-year; Net income of $23.8 million, representing EPS of $0.05, compared to $39.1 million with EPS of $0.08 in the previous quarter, and compared to a net income of $81.4 million with EPS of $0.16 in the same prior-year period; EBITDA of $57.8 million 1, a decrease of 55% quarter-over-quarter and 68% year-over-year; On June 3, 2025, Caisse de dépôt et placement du Québec exercised warrants to acquire 15 million ordinary shares of Champion, resulting in total proceeds to the Company of $36.7 million. The warrants had been granted pursuant to a financing in August 2019; Cash balance totalled $176.1 million as at June 30, 2025, an increase of $58.6 million since March 31, 2025, benefiting from the improvements in operating working capital and proceeds from the warrants exercise along with a drawdown on the Company's senior revolving facility (the "Revolving Facility"), while the Company continued to advance the Direct Reduction Pellet Feed project (the "DRPF Project"), and invest in sustainable capital expenditures; and On July 2, 2025, Champion issued US$500 million of 7-year Senior Unsecured Notes with an interest rate of 7.875%. Proceeds from the offering were used to repay the Company's existing US$230 million senior term loan and the outstanding balance of US$105 million under the Revolving Facility. The transaction had minimal impact on the Company's net debt and further strengthened its available liquidity, which totalled $536.6 million 1 as at June 30, 2025, and is expected to be used to support general corporate purposes. Growth and Development The DRPF project, designed to upgrade half of Bloom Lake's capacity to DR quality pellet feed iron ore grading up to 69% Fe, continues to progress as scheduled, with commissioning planned for December 2025 and commercial shipments of DR quality iron expected in the first half of the 2026 calendar year, gradually increasing thereafter. Quarterly and cumulative investments totalled $47.5 million and $387.0 million, respectively, as at June 30, 2025, out of an estimated total capital expenditure of $470.7 million detailed in the project study highlights released in January 2023; During the three-month period ended June 30, 2025, progress continued on the definitive feasibility study (the "DFS") for the Kami Project, which is expected to be completed by the end of the 2026 calendar year; and On July 21, 2025, Champion entered into a definitive framework agreement (the "Framework Agreement") with Nippon Steel Corporation ("Nippon Steel") and Sojitz Corporation ("Sojitz", and collectively with Nippon Steel, the "Partners"), pursuant to which the Partners have agreed, subject to the Framework Agreement's terms and conditions, to initially contribute $245 million for an aggregate 49% interest in Kami Iron Mine Partnership (the "Partnership"), a new entity formed for the ownership and potential development of the Kami Project. Additional details can be found in the Company's press release dated July 21, 2025 (Montréal), available under its profile on SEDAR+ at the ASX at and the Company's website at 2. Bloom Lake Mine Operating Activities The Company performs both its plants' scheduled maintenance in the second and fourth financial quarters, creating significant quarter-over-quarter variances in production output and mining and processing costs. Q1 FY26 Q4 FY25 Q/Q Change Q1 FY25 Y/Y Change Operating Data Waste mined and hauled (wmt) 10,963,600 10,886,200 1 % 6,733,700 63 % Ore mined and hauled (wmt) 10,070,700 9,470,100 6 % 10,779,300 (7) % Material mined and hauled (wmt) 21,034,300 20,356,300 3 % 17,513,000 20 % Stripping ratio 1.09 1.15 (5) % 0.62 76 % Ore milled (wmt) 10,500,700 9,160,300 15 % 11,084,300 (5) % Head grade Fe (%) 28.2 29.2 (3) % 29.1 (3) % Fe recovery (%) 78.2 78.3 — % 79.3 (1) % Product Fe (%) 66.3 66.5 — % 66.3 — % Iron ore concentrate produced (wmt) 3,520,600 3,167,000 11 % 3,876,500 (9) % Iron ore concentrate sold (dmt) 3,831,800 3,495,300 10 % 3,442,800 11 % Bloom Lake produced 3.5 million wmt (3.4 million dmt) of high-grade iron ore concentrate during the three-month period ended June 30, 2025, a decrease of 9% compared to 3.9 million wmt (3.8 million dmt) produced during the same period in 2024. Bloom Lake's overall performance continued to be impacted by the hardness of ore processed, together with lower head grade. As a result, Champion's average Fe recovery rate was 78.2% for the three-month period ended June 30, 2025, compared to 79.3% for the same period in 2024. Champion is adjusting its operating and maintenance strategies to manage varying ore feed characteristics. While mining performance remained robust during the three-month period ended June 30, 2025, processing harder ore impacted grinding efficiency and Fe recovery. The Company will continue to optimize its operations and remains focused on improving and stabilizing recovery rates over time. During the quarter, the Company capitalized on a scheduled annual power interruption by the service provider, which briefly impacted operations, to perform planned maintenance on certain processing equipment. Sales volumes reached a record level during the three-month period ended June 30, 2025, exceeding production, thereby reducing the level of iron ore concentrate stockpiled at Bloom Lake by 440,000 wmt to reach 2.1 million wmt as at June 30, 2025. During the quarter, sales were negatively impacted by a scheduled semi-annual shutdown of rail operations for third-party infrastructure maintenance. The Company expects that stockpiled volumes of iron ore concentrate will continue to decrease in future periods. However, the pace of future destocking is expected to vary due to scheduled semi-annual maintenance work at the mine and on the rail network, as well as seasonal transportation constraints. Champion continues to work closely with the rail operator to receive consistent contracted haulage services, ensuring that both ongoing production and existing stockpiles at Bloom Lake are hauled over future periods. During the three-month period ended June 30, 2025, the Company set a new record by mining and hauling 21.0 million tonnes of waste and ore, surpassing the 17.5 million tonnes of waste and ore recorded in the same prior-year period. This improvement in mining performance was driven by Champion's investments in additional haul trucks and loading equipment during the second half of the previous financial year, as well as enhanced utilization and availability of mining equipment. The strong mining performance enabled the Company to mine and haul a higher volume of waste material, resulting in a stripping ratio of 1.09 for the three-month period ended June 30, 2025, significantly higher than the 0.62 ratio recorded in the same prior-year period. Champion anticipates maintaining elevated stripping activity in upcoming periods, consistent with its LoM plan. 3. Financial Performance A. Revenues Revenues totalled $390.0 million for the three-month period ended June 30, 2025, down $77.1 million from $467.1 million in the same period in 2024. Sales volumes rose by 11% and freight and other costs declined by 16% year-over-year. These positive impacts were more than offset by a lower gross average realized selling price, driven by a decline in the P65 index price, and negative provisional pricing adjustments on sales recorded during the previous quarter. During the three-month period ended June 30, 2025, sales volumes reached a record of 3.8 million dmt, despite the impact of a planned rail shutdown during the quarter. A second semi-annual maintenance of rail infrastructure is scheduled in the second quarter of the current financial year and is expected to impact shipment pace and volumes transported to the Port of Sept-Îles. Negative provisional pricing adjustments on prior-quarter sales of $26.6 million (US$20.1 million) were recorded during the three-month period ended June 30, 2025, representing a negative impact of US$5.2/dmt over the 3.8 million dmt sold during the quarter. A final average price of US$103.6/dmt was established for the 2.7 million dmt of iron ore subject to pricing adjustments as at March 31, 2025, which were provisionally priced at US$111.1/dmt. The gross average realized selling price of US$105.5/dmt 1 for the three-month period ended June 30, 2025, was lower than the P65 index average price of US$108.4/dmt. The 2.5 million dmt of iron ore subject to pricing adjustments as at June 30, 2025, were evaluated at an average price of US$100.2/dmt. The gross average realized selling price was also negatively impacted by the Company's strategic transition to a higher grade DRPF product. As part of this shift, Champion intentionally reduced volumes of iron ore concentrate sold under long-term sales contracts to retain a greater proportion of its iron ore concentrate for the short-term and spot markets, which have recently experienced greater pricing volatility and pricing discounts. These impacts were partially offset by sales using backward-looking iron ore index pricing, which exceeded the P65 index average price during the period. Freight and other costs of US$26.9/dmt during the three-month period ended June 30, 2025, decreased by 16%, compared to US$32.1/dmt in the same prior-year period, mainly driven by a decrease in the average C3 index. Freight and other costs for the period remained elevated due to additional shipping expenses incurred from rerouting vessels via the Cape of Good Hope, as a result of the ongoing conflict in the Red Sea. After taking into account sea freight and other costs of US$26.9/dmt and the negative provisional pricing adjustments of US$5.2/dmt, the Company obtained a net average realized selling price of US$73.4/dmt (C$101.8/dmt 1) for its high-grade iron ore concentrate shipped during the quarter. B. Cost of Sales and C1 Cash Cost For the three-month period ended June 30, 2025, the cost of sales totalled $313.9 million with a C1 cash cost of $81.9/dmt 1, compared to $264.9 million with a C1 cash cost of $76.9/dmt 1 for the same period in 2024. The increase in cost of sales reflected the higher sales volumes and the reduction of stockpiled iron ore concentrate inventory over the quarter since these tonnes were valued at higher production costs than those of the current quarter due to major maintenance carried out in March 2025. Mining and processing costs totalled $53.7/dmt 1 for the 3.4 million dmt produced in the three-month period ended June 30, 2025, representing a 12% increase compared to $47.9/dmt produced 1 in the same period last year. This increase was mainly driven by higher stripping activities, with 4.2 million more tonnes of waste mined and hauled during the quarter than in the same prior-year period, in line with the long-term mine plan. Additional contributing factors included increased maintenance resulting from premature wear on crushers and grinding circuits due to processing harder ore, and lower production volumes over which to amortize fixed costs. Land transportation and port handling costs for the three-month period ended June 30, 2025, were $24.3/dmt sold 1, a decrease from the $25.3/dmt sold 1 for the same period last year. This decrease was mainly attributable to higher sales volumes during the period, which contributed to the amortization of fixed costs of the Sept-Îles port facilities. The C1 cash cost was also impacted by changes in iron ore concentrate inventory valuation, reflecting mining and processing costs from the previous quarter, along with variations in production and sales volumes. C. Net Income & EBITDA For the three-month period ended June 30, 2025, the Company generated EBITDA of $57.8 million 1, representing an EBITDA margin of 15% 1, compared to $181.2 million 1, representing an EBITDA margin of 39% 1, for the same period in 2024. Lower EBITDA and EBITDA margin were mainly driven by a lower net average realized selling price and a higher cost of sales, partially offset by higher sales volumes. For the three-month period ended June 30, 2025, the Company generated net income of $23.8 million (EPS of $0.05), compared to $81.4 million (EPS of $0.16) for the same prior-year period. This decrease in net income was attributable to lower gross profit, partially offset by a foreign exchange gain resulting from the revaluation of U.S. dollar-denominated net monetary liabilities, driven by the strengthening of the Canadian dollar at the end of the quarter, as well as lower income and mining taxes. D. All-in Sustaining Cost & Cash Operating Margin During the three-month period ended June 30, 2025, the Company realized an AISC of $96.2/dmt 1, compared to $91.6/dmt 1 for the same period in 2024, an increase mainly attributable to a higher C1 cash cost, mitigated by higher volumes of iron ore concentrate sold during the period. The Company generated a cash operating margin of $5.6/dmt 1 for each tonne of high-grade iron ore concentrate sold during the three-month period ended June 30, 2025, compared to $44.1/dmt 1 for the same prior-year period. The variation was mainly due to a lower net average realized selling price and a higher AISC for the period. 4. Exploration Activities During the three-month period ended June 30, 2025, the Company maintained all its properties in good standing and no farm-in or farm-out arrangements came into effect. In relation to the Kami Project, the Partners agreed to jointly conduct and fund certain components of the DFS on a pro-rata basis, in accordance with their respective ownership interests. Expected reimbursements of expenditures already incurred by Champion pursuant to the existing collaboration agreement with the Partners were deducted from exploration and evaluation assets. During the three-month period ended June 30, 2025, $8.8 million in exploration and evaluation expenditures were incurred, compared to $2.6 million for the same prior-year period. During the three-month period ended June 30, 2025, exploration and evaluation expenditures related to activities carried out in Québec and Newfoundland and Labrador. Details on exploration projects, along with maps, are available on the Company's website at under the Operations & Projects section. 5. Cash Flows — Purchase of Property, Plant and Equipment Sustaining Capital Expenditures Sustaining capital expenditures were $11.0/dmt sold for the three-month period ended June 30, 2025, comparable to the same prior-year period. The tailings-related investments for the three-month period ended June 30, 2025, were in line with the Company's long-term plan to support the LoM operations. As part of its ongoing tailings infrastructure monitoring and inspections, Champion remains committed to its safe tailings strategy and continues to implement its long-term investment plan for tailings infrastructure. During the third quarter of the 2025 financial year, the Company initiated the expansion of its tailings and waste storage capacity to accommodate increased operational throughput. Tailings-related construction activities are typically conducted between May and November, when weather conditions are more favourable. Stripping and mining activities for the three-month period ended June 30, 2025, comprised $7.8 million of mine development costs, including topographic and pre-cut drilling work, contained in the Company's mine plan ($10.3 million for the same period in 2024). During the three-month period ended June 30, 2025, stripping and mining activities also included $5.2 million in capitalized stripping costs (nil for the same period in 2024). The increase in other sustaining capital expenditures for the three-month period ended June 30, 2025, was primarily driven by investments in mining equipment rebuilds to support the expansion of Champion's mining fleet. These expenditures align with the Company's long-term investment strategy to support growth initiatives across the LoM. DRPF Project During the three-month period ended June 30, 2025, the Company spent $47.5 million in capital expenditures related to the DRPF project ($58.5 million for the same prior-year period). Investments during the period mainly consisted of structural construction activities, as well as mechanical, piping and electrical work, all of which are progressing as planned. Cumulative investments totalled $387.0 million as at June 30, 2025, out of an estimated total capital expenditure of $470.7 million outlined in the project's study highlights released in January 2023. Other Capital Development Expenditures at Bloom Lake During the three-month period ended June 30, 2025, other capital development expenditures at Bloom Lake totalled $15.7 million ($19.0 million for the same period in 2024). The following table details other capital development expenditures at Bloom Lake: (i) Infrastructure improvements and conformity expenditures included various capital projects aimed at improving the performance or capacity of assets and complying with various regulations governing mining practices. (ii) Other expenditures mainly consisted of capitalized borrowing costs on the DRPF project. 6. Conference Call and Webcast Information A webcast and conference call to discuss the foregoing results will be held on July 30, 2025, at 9:00 AM (Montréal time) / 11:00 PM (Sydney time). Listeners may access a live webcast of the conference call from the Investors section of the Company's website at or by dialing toll free +1-888-699-1199 within North America or +61-2-8017-1385 from Australia. An online archive of the webcast will be available by accessing the Company's website at A telephone replay will be available for one week after the call by dialing +1-888-660-6345 within North America or +1-289-819-1450 overseas, and entering passcode 96866#. About Champion Iron Limited Champion, through QIO, owns and operates the Bloom Lake Mining Complex located on the south end of the Labrador Trough, approximately 13 kilometres north of Fermont, Québec. Bloom Lake is an open-pit operation with two concentration plants that primarily source energy from renewable hydroelectric power, having a combined nameplate capacity of 15M wmt per year that produce lower contaminant high-grade 66.2% Fe iron ore concentrate with a proven ability to produce a 67.5% Fe direct reduction quality iron ore concentrate. Benefiting from one of the highest purity resources globally, Champion is investing to upgrade half of the Bloom Lake's mine capacity to a direct reduction quality pellet feed iron ore with up to 69% Fe. Bloom Lake's high-grade and lower contaminant iron ore products have attracted a premium to the P62 index. Champion ships iron ore concentrate from Bloom Lake by rail, to a ship loading port in Sept-Îles, Québec, and has delivered its iron ore concentrate globally, including in China, Japan, the Middle East, Europe, South Korea, India and Canada. In addition to Bloom Lake, Champion owns the Kami Project, a project with an expected annual production of 9M wmt per year of direct reduction quality iron grading above 67.5% Fe, located near available infrastructure and only 21 kilometres southeast of Bloom Lake. On July 21, 2025, Champion entered into a definitive framework agreement with Nippon Steel Corporation and Sojitz Corporation to form a partnership for the shared ownership and potential development of the Kami Project. Champion also owns a portfolio of exploration and development projects in the Labrador Trough, including the Cluster II portfolio of properties, located within 60 kilometres south of Bloom Lake. Cautionary Note Regarding Forward-Looking Statements This press release contains certain information and statements that may constitute "forward-looking information" under applicable securities legislation ("Forward-Looking Statements"). Forward-Looking Statements are statements that are not historical facts and are generally, but not always, identified by the use of words such as "will", "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates", "aims", "targets" or "believes", or variations of, or the negatives of, such words and phrases or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. Inherent in Forward-Looking Statements are risks, uncertainties and other factors beyond the Company's ability to predict or control. Specific Forward-Looking Statements All statements, other than statements of historical facts, included in this press release that address future events, developments or performance that Champion expects to occur are Forward-Looking Statements. Forward-Looking Statements include, among other things, Management's expectations regarding: (i) Bloom Lake's LoM, recovery rates, production, economic and other benefits, nameplate capacity and related opportunities and benefits; (ii) the project to upgrade the Bloom Lake iron ore concentrate to a higher grade and to convert approximately half of Bloom Lake's increased nameplate capacity of 15M wmt per year to commercially produce a direct reduction quality pellet feed iron ore , expected DRPF project timeline, capital expenditures, budget and financing, production metrics, technical parameters, efficiencies, economic and other benefits, the expected commissioning, first shipments of iron ore and ramping-up of the DRPF project; (iii) Kami Project's potential to produce a DR grade product, expected production and technical parameters; (iv) the formation of a partnership with Nippon Steel and Sojitz with respect to the Kami Project, the completion of the DFS for the Kami Project and the timing thereof, the Partners' contributions to support the DFS, the completion of the transactions contemplated by the Framework Agreement and its timing, the ability of Champion to realize the benefits of the transactions contemplated by the Framework Agreement, and the ability and timing for the parties to the Framework Agreement to fund cash calls to advance the development of the Kami Project and pursue its development; (v) the Company's capital management and shareholder return strategies; (vi) the shift in steel industry production methods, expected rising demand for higher-grade iron ore products and direct reduced iron (DRI) globally and related market deficit and higher premiums, and the Company's participation therein, contribution thereto and positioning in connection therewith, including the transition of the Company's product offering (including producing high-quality DRPF products), related investments and expected benefits thereof; (vii) maintaining higher stripping activities; (viii) stockpiled ore levels, the pace of destocking, shipping and sales of accumulated iron ore concentrate inventories and their impact on the operating costs and the cost of sales; (ix) increased shipments of iron ore concentrate and related rail capacity and the impact thereon of scheduled rail infrastructure maintenance activities; * the Company's mining equipment rebuild program and mining fleet expansion, safe tailings strategy, tailings investment plan and related work programs, investments and benefits; (xi) the impact of iron ore price fluctuations on the Company and its financial results and the occurrence of certain events and their impact on iron ore prices and demand for high-purity iron ore products; (xii) production and recovery rates and levels, ore characteristics and the Company's performance and related strategies and work programs to optimize operations; (xiii) pricing of the Company's products (including provisional pricing); (xiv) the Company's iron ore concentrate pricing trends compared to the P65 index; (xv) the Company's storage expansion; (xvi) available liquidity and the Company's financial flexibility; (xvii) the offering of Senior Unsecured Notes and the use of proceeds therefrom; and (xviii) the Company's growth and opportunities generally. Risks Although Champion believes the expectations expressed in such Forward-Looking Statements are based on reasonable assumptions, such Forward-Looking Statements involve known and unknown risks, uncertainties and other factors, most of which are beyond the control of the Company, which may cause the Company's actual results, performance or achievements to differ materially from those expressed or implied by such Forward-Looking Statements. Factors that could cause actual results to differ materially from those expressed in Forward-Looking Statements include, without limitation: (i) future prices of iron ore; (ii) future transportation costs; (iii) general economic, competitive, political and social uncertainties; (iv) continued availability of capital and financing and general economic, market or business conditions; (v) timing and uncertainty of industry shift to electric arc furnaces, impacting demand for high-grade feed; (vi) failure of plant, equipment or processes to operate as anticipated; (vii) delays in obtaining governmental approvals, necessary permitting or in the completion of development or construction activities; (viii) the results of feasibility studies; (ix) changes in the assumptions used to prepare feasibility studies; * project delays; (xi) geopolitical events; and (xii) the effects of catastrophes and public health crises on the global economy, the iron ore market and Champion's operations, as well as those factors discussed in the section entitled "Risk Factors" of the Company's Management's Discussion and Analysis for the financial year ended March 31, 2025, available under the Company's profile on SEDAR+ at the ASX at and the Company's website at There can be no assurance that any such Forward-Looking Statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such Forward-Looking Statements. Accordingly, readers should not place undue reliance on Forward-Looking Statements. Additional Updates All of the Forward-Looking Statements contained in this press release are given as of the date hereof or such other date or dates specified in the Forward-Looking Statements and are 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 Statements, 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 expressed in thousands of Canadian dollars; and (ii) per share or per tonne (including dmt and wmt) amounts, which are expressed in Canadian dollars or United States dollars, as indicated. 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), M (million), LoM (life of mine), Bloom Lake or Bloom Lake Mine (Bloom Lake Mining Complex), DR (direct reduction), 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 income and mining taxes, net finance costs and depreciation), 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. The term "QIO" refers to Quebec Iron Ore Inc., the Company's subsidiary and operator of Bloom Lake. For additional information on Champion Iron Limited, please visit our website at: 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-month period ended June 30, 2025 (the "Financial Statements") and associated Management's Discussion and Analysis ("MD&A") are available under the Company's profile on SEDAR+ ( the ASX ( and the Company's website ( __________________________________________________ 1 This is a non-IFRS financial measure, ratio or other financial measure. This 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 20 of the Company's MD&A for the three-month period ended June 30, 2025, available on SEDAR+ at the ASX at and the Company's website under the Investors section at 2 See the "Currency" subsection included in section 6 — Key Drivers of the MD&A for the three-month period ended June 30, 2025, available on SEDAR+ at the ASX at and the Company's website under the Investors section at 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 United States dollars in addition to Canadian dollars to facilitate comparability with measures presented by other companies. EBITDA and EBITDA Margin Available Liquidity As at June 30, As at March 31, (in thousands of dollars) 2025 2025 Cash and cash equivalents 176,054 117,451 Undrawn amounts under credit facilities 360,569 488,410 Available liquidity 536,623 605,861 C1 Cash Cost Q1 FY26 Q4 FY25 Q1 FY25 Iron ore concentrate sold (dmt) 3,831,800 3,495,300 3,442,800 (in thousands of dollars, except per dmt data) Cost of sales 313,928 279,644 264,911 C1 cash cost (per dmt sold) 81.9 80.0 76.9 All-in Sustaining Cost Q1 FY26 Q4 FY25 Q1 FY25 Iron ore concentrate sold (dmt) 3,831,800 3,495,300 3,442,800 (in thousands of dollars, except per dmt data) Cost of sales 313,928 279,644 264,911 Sustaining capital expenditures 42,241 33,230 38,008 General and administrative expenses 12,581 12,457 12,350 368,750 325,331 315,269 AISC (per dmt sold) 96.2 93.1 91.6 Cash Operating Margin and Cash Profit Margin Q1 FY26 Q4 FY25 Q1 FY25 Iron ore concentrate sold (dmt) 3,831,800 3,495,300 3,442,800 (in thousands of dollars, except per dmt data) Revenues 390,027 425,345 467,084 Net average realized selling price (per dmt sold) 101.8 121.7 135.7 AISC (per dmt sold) 96.2 93.1 91.6 Cash operating margin (per dmt sold) 5.6 28.6 44.1 Cash profit margin 6 % 24 % 32 % Gross Average Realized Selling Price per dmt Sold Q1 FY26 Q4 FY25 Q1 FY25 Iron ore concentrate sold (dmt) 3,831,800 3,495,300 3,442,800 (in thousands of dollars, except per dmt data) Revenues 390,027 425,345 467,084 Provisional pricing adjustments 26,552 (5,389) (27,947) Freight and other costs 142,687 140,627 151,547 Gross revenues 559,266 560,583 590,684 Gross average realized selling price (per dmt sold) 146.0 160.4 171.6 SOURCE Champion Iron Limited For further information, please contact: Michael Marcotte, CFA, Senior Vice-President, Corporate Development and Capital Markets, 514-316-4858, Ext. 1128, [email protected]
The Irish Sun
a day ago
- Health
- The Irish Sun
Model who tried to sue NHS for £3m after claiming docs left her battling to walk was caught ‘strutting' at festival
A MODEL who tried to sue the NHS for £3million after claiming doctors left her struggling to walk was caught "strutting" at a festival. Kae Burnell-Chambers, 44, claimed a blunder led to nerve damage that left her struggling to walk, get out of a car or even dress herself. Advertisement 7 Kae Burnell-Chambers claimed she was left struggling to walk after an NHS blunder Credit: Champion 7 But footage showed her 'strutting' at a fantasy festival 7 She was filmed posing as a fantasy warrior Credit: Champion News Service But footage revealed the artist and model had taken part in a fantasy festival in 2019 where she was filmed posing and strutting while dressed as a warrior. The clip was taken just months before Burnell-Chambers launched her £3million pound damages bid against the NHS. She claimed there was a delayed diagnosis of her cauda equina syndrome - a condition involving damage to nerves at the end of the spinal cord. While Burnell-Chambers did have the disease, she later admitted exaggerating her symptoms after the social media videos emerged. Advertisement She is now facing a potential jail sentence for contempt of court after the footage was shown at the High Court in London. The judge was told cauda equina syndrome is a crippling condition which occurs when the bundle of nerves below the end of the spinal cord is damaged. Signs and symptoms include low back pain, numbness and pain that radiates down the leg but early diagnosis and treatment can lead to the long term effects being reduced. Sadie Crapper, barrister for Northern Lincolnshire And Goole NHS Foundation Trust, said after doctors missed early signs of the condition in 2016, Burnell-Chambers launched a bid for damages. Advertisement Most read in The Sun Latest Burnell-Chambers filmed herself appearing to struggle to walk down a flight of stairs with the aid of a cane. But in another video, she was seen with her mum at a petrol station "walking with no problem" on the same morning she saw a medico-legal expert displaying high levels of disability . The footage from the Kustom Kulture Blast Off in August 2019 also showed her "having her body extensively painted and then parading in a show where she walks freely and dances without need for a walking aid", it was said. Ms Crapper added: "What you see in these videos is somebody who goes to conventions around the country. Advertisement "She's seen to walk without a mobility aid, crouch and converse about the work she's doing freely and without any sign of pain. "The person seen on the videos is markedly different from the person seen in the medico legal documents and her witness statement. "She has at all times known she participated in these conventions, undertook this painting and modelling, and could walk as she did on the footage now available." She said it was the NHS Trust's case that Burnell-Chambers had "fraudulently exaggerated her symptoms for the purposes of her clinical negligence claim". Advertisement The lawyer continued: "[Ms Burnell-Chambers] now admits that she is in contempt of court and accepts that the custody threshold has been crossed in respect of her wrongdoing." Burnell-Chambers admitted her condition varies and that her mobility is almost normal "on good days". She also said she exaggerated when she saw the medico legal expert doctor and "misrepresented" her symptoms during her claim. The body artist added: "I know it was wrong to misrepresent my presentation whilst making a civil claim. I accept that I deserve to be punished as a result." Advertisement Given his ruling, the judge said she signed an admission that she "deceived" the examining doctors "and deliberately changed my presentation". Read more on the Irish Sun This "deliberately interfered with the administration of justice", the judge told the court. Burnell-Chambers will now return to court in October where she faces a maximum two year jail sentence. 7 Kae claimed she needed a cane or wheelchair to walk in her £3m claim Credit: Champion News Service Advertisement 7 But she was filmed walking around unaided Credit: Champion 7 Kae took part in a parade at the festival Credit: Champion 7 She also travelled the country to do body painting Credit: Champion News Service
IOL News
a day ago
- Automotive
- IOL News
Is McLaren too far gone in the title race?
McLaren dominant McLAREN's dominance this season is undeniable with as seen Lando Norris on the podium next to teammate Oscar Piastri, a technician, and third placed Charles Leclerc of Ferrari. | AFP OVER the past two decades, there's never really been any real rivalry at the top of Formula 1. It's mainly been one team dominating and the rest of the top four trying to catch up as closely as possible. Since the second half of last season, and all of this season, McLaren have been the team everyone is trying to catch up with. But mid-way through the season it looks as though it's already over for everyone else. Be it the Constructors or the Drivers World Title, the chances of any other team but papaya lifting the silverware at the end of the season are slim to none. The double podium in Belgium put them over 250 points clear in the Constructors race. Oscar Piastri is around 80 points clear of Max Verstappen in third place with the battle for World Champion seemingly fixed between the young Aussie and his teammate Lando Norris. Long term pace setting McLaren apart What has been evident this season is McLaren's pace, not just over the short term but the long term main race as well. Verstappen has only managed to post quick times during the shorter format qualifying and sprint rounds but the RB21 cannot seem to go the distance on all flat out tracks and wet conditions. Once in the lead on a Sunday, both of the McLarens' have been extremely difficult to catch for the likes of Red Bull, Ferrari or Mercedes. Balance and downforce has been the bane of existence for many teams in the paddock this season, not just the bottom three of the top -four. The Ferrari's have shown greater potential of putting up a fight against Zak Brown's team compared to Red Bull, but even the great Lewis Hamilton cannot seem to catch the orange zap. Hamilton gave an exhilarating performance in a soaking wet Spa on Sunday, fighting up nine places from P16 to P7. Charles Leclerc finished P3, his second podium of the year, but was 20 seconds behind Piastri and around 17 seconds behind Norris - painting a clear picture of the McLaren pace in hell or high water. McLaren's keen tyre management One stand out feature so far this season has been McLaren's ability to efficiently manage its tyres when compared to the other top four teams. Tyre management has been an area of excellence for McLaren, especially in hot conditions - where the rubber is eaten much faster. Speculation in the paddock and world of F1 has suggested that McLaren tyre secret could revolve around phase change materials. Aero Design Engineer Martin Bhunchan, a former F1 engineer who wrote his thesis at McLaren 8 years ago, suspects McLaren could be using the technology to get better tyre management. But this process only helps cool the tyres by the use of air alone and cannot be entirely responsible for their stellar rubber management. The answer may also lie in the materials themselves, the reaction to heat and how high a melting point they have compared to the ones other teams are using.
Observer
3 days ago
- Business
- Observer
OTTCO named champion for green ammonia storage in Oman
MUSCAT, JULY 27 Oman Tank Terminal Company (OTTCO), a subsidiary of OQ – the Omani government–owned integrated energy company – has been designated as a 'National Champion' for central green ammonia storage. This designation, announced by Hydrom – the master planner of Oman's green hydrogen sector – places OTTCO among a select group of predominantly state-owned utilities and energy companies tasked with developing and operating shared infrastructure, also known as Common User Infrastructure (CUI), to support the country's emerging gigawatt-scale green molecules industry. Confirmation of OTTCO's new status came in a recent interview given by Eng. Abdulaziz al Shidhani, Managing Director of Hydrom, to The Energy Oman. Highlighting Hydrom's pivotal role in advancing the Sultanate's green hydrogen ambitions, he noted: 'We advise the government on policies and regulations to support a robust and investment-friendly framework. We lead auction processes and manage contracts. In parallel, we also serve as custodians of the Green Hydrogen Strategy, overseeing land master planning and the sector's long-term vision. Once projects are awarded, developers take the lead on execution, while we ensure coordination—especially for shared infrastructure. To do that, we work closely with 'National Champions'—key public and private entities entrusted with specific responsibilities across the hydrogen value chain. OQ Alternative Energy leads investment. Nama Water Services oversees water and power. OQ Gas Networks is responsible for gas transport. Oman Electricity Transmission Company manages power transmission. Most recently, Oman Tank Terminal Company was named National Champion for central green ammonia storage,' he added. The move underscores the growing importance of green ammonia as both a versatile carrier of green hydrogen and a low-carbon fuel, particularly for hard-to-decarbonize sectors. Produced from renewable hydrogen and nitrogen, green ammonia (NH₃) is safer and more efficient to store and transport than pure hydrogen. It can also be used directly as a carbon-free fuel in shipping, power generation, and possibly industrial heating, offering a cleaner alternative to fossil fuels. The maritime sector, in particular, is showing strong interest in ammonia as a zero-carbon bunker fuel, while green ammonia also provides a cleaner substitute for the global fertilizer industry, which is a significant source of CO₂ emissions. OTTCO's designation expands its mandate beyond crude oil and fossil fuel-based storage and logistics into the realm of green molecules. Its flagship facility at Ras Markaz, spanning 40 square kilometres, currently offers 17.5 million barrels of storage capacity, with plans to scale up to a world-class 200 million barrels. The site also serves as a strategic hub for imported crude feeding the Duqm Refinery, located approximately 80 kilometres away. According to OTTCO CEO Eng. Salem bin Marhoon al Hashmi, a recent strategic agreement between parent group OQ and Dutch liquid logistics giant Vopak aims to position Duqm as a global storage hub not only for fossil fuels, but also for green molecules such as green ammonia. Several preliminary studies have already been completed to establish advanced infrastructure for the storage, handling, and export of green ammonia. OTTCO is also developing a shared smart storage infrastructure and seeking global partnerships to enable knowledge exchange and accelerate development. Last week, Mohsin bin Hamad al Hadhrami, Under-Secretary of the Ministry of Energy and Minerals, accompanied Ashraf bin Hamad al Mamari, OQ Group CEO, on a visit to Ras Markaz and other facilities in Duqm. The visit aimed to highlight OTTCO's operations and future plans.
