The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Orest Wowkodaw - Scotiabank - Analyst
: Hi, good morning, David, just a clarification when your comments earlier, did I understand correctly that you were saying that Bloom Lake is still
operating below the nameplate of about 3.7 million tons per quarter because you're still basically fixing from what happened a quarter ago?
Yes.
Question: Lucas Pipes - B. Riley Securities - Analyst
: Please go ahead.
Question: Gordon Lawson - Paradigm Capital - Analyst
: Please go ahead and good morning. Thank you very much. And can you provide some color on the light premiums in the quarter, what you're
seeing in the current quarter, what you expect for fiscal 25?
Question: Craig Hutchison - TD Securities - Analyst
: Hi, good morning, guys. Just on the accounting project that you mentioned you don't anticipate spending any CapEx the next couple of years. Is
that the duration you anticipate for the updated comments about a two year process?
Yes, I would say thanks for the question, Craig. We'd say about two years for the for the port permitting process, and that should let it leave us
enough time to also secure the partner, finalize the the agreements there and then be able to come to see the next steps once we're in 2026 and
I think that's a pretty good year to be able to evaluate a project like Cammy right now. If you remember, the economics were maybe a little bit
underwhelming, but when you look at what can happen in the next two years with the potential list of critical minerals here on the federal side
and the discussions also with the Newfoundland government and also the delivery of most of the DRIDES. in the next two years, we should have
a better view on the pricing mechanism for DR pellet feed and also the various economic improvements that we can have on the federal and
provincial side.
Okay, great. And just I'll ask my follow-up question was going to be just on sort of price discovery on DR pellet feed. Is there any kind of indication
you guys have had in terms of what that might be over the last sort of year discussions you've had if it premium, you guys assume somewhere in
the range of an additional $30 a ton on top of the 65, is that still the case? Or do you think it could be higher? Or any kind of color you can provide
on that would be great.
Question: Stefan Ioannou - Cormark Securities Inc. - Analyst
: Thanks very much, guys. Just maybe just on Tammy again, I'm just curious, you're again mentioning it sort of probably a two year ish time horizon
to permits. Just when we think about advancing the potential partnership negotiations. Is that something then that dovetails with the receipt of
permits or do you think we see a partner firmed up?
Question: Brian MacArthur - Raymond James Ltd. - Analyst
: Good morning and thank you for taking my question. Just going back to Lucas' question and when you expand Bloom Lake to 17 to 18 million
tonnes and you're confident that the railway will be there. It has been if the up to now what actually you talked about a million tons of capacity.
But what actually has to be done to get those extra 3 million tons to somebody else have to order some locomotives, are you in control of all the
rolling stock you need what actually has to be done to sort of guarantee that you'll be able to move 18 million tons at that time?
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MAY 31, 2024 / 1:00PM, CIA.AX - Q4 2024 Champion Iron Ltd Earnings Call
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