Q1 2025 Champion Iron Ltd Earnings Call Transcript
Key Points
- Champion Iron Ltd (CIAFF) achieved record sales of over 3.4 million tons and produced approximately 3.9 million tons in Q1 FY2025.
- The company generated about $180 million of EBITDA during the quarter.
- No significant workplace incidents or major environmental issues were reported.
- Champion Iron Ltd (CIAFF) secured additional mining equipment and railcars to support future production increases.
- The company received recognition from the Canadian government, adding high-grade iron ore to the list of critical minerals, which could benefit future growth initiatives.
- Cash costs remained relatively flat at just shy of $77 per ton, indicating no significant cost improvements.
- The company faced a setback due to forest fires, which caused a temporary evacuation and impacted roughly one week's production.
- Iron recovery rates were below targets, with challenges in tuning the recovery circuit during significant shifts in tonnage.
- The P65 index decreased by about 7% during the quarter, impacting the realized selling price.
- Lower-than-expected cash levels were reported, mainly due to a $100 million change in working capital, affecting market expectations.
Good morning, ladies and gentlemen, and welcome to Champion's first quarter result of the financial year 2025. At this time, all lines are in a listen-only mode and following the presentation, we will conduct a question and answer session. But anytime during this call you require immediate assistance, please press star zero for the operator. This call is being recorded on Wednesday, July 31, 2024.
And I would now like to turn the conference over to Mr. Michael McCain and Corporate Development and Capital Markets. Please go ahead, sir.
Thank you, operator, and thank you, everyone, for joining the call with us here today to discuss our quarterly results. Just for everyone's benefit. If you would like to see this presentation, it is available on our website at ChampionX.com under the Events and Presentations tab of our website.
I'd also like to highlight that our team will be making forward-looking statements throughout this call, I'd like to
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