Business
LIM March 2013 year-end results and operational...
LIM March 2013 year-end results and operational....
About this update from Anglesey Mining Plc
[{"type":"text","content":"\n \nAnglesey Mining plc\n\n3 July 2013 LSE:AYM\n\nLIM March 2013 year-end results and operational update\n\nAnglesey Mining's 15% held associate Labrador Iron Mines Holdings Limited (TSX:\nLIM) today reports its operating and audited financial results for the fiscal\nyear ended March 31, 2013. LIM is also pleased to provide an update on its 2013\noperating season, as the second shipment of iron ore departed the Port of\nSept-ÃŽles on June 27, 2013.\n\nRecent Operating Highlights\n\nLIM commenced its third season of operations in April 2013 with the re-start of\nfull-scale mining activities targeting 1.75 million to 2.0 million tonnes of\nsaleable iron ore production in 2013. Recent operating highlights include:\n\n * The first shipment for 2013 sailed from the Port of Sept-ÃŽles in early June\n carrying approximately 174,000 wet metric tonnes (\"wmt\") of iron ore. This\n was followed by LIM's second shipment carrying approximately 177,500 wmt on\n June 27, 2013.\n \n * The Silver Yards Phase 3 upgrade and expansion for the wet plant was\n commissioned in June and has been operating in conjunction with the dry\n plant, which has been processing ore since April.\n \n * Railway operations recommenced in early April. For the 2013 operating\n season, LIM is using newly-built, rotary dumper compatible iron ore\n gondolas, comprising longer, 164-car train sets, allowing for improved\n productivity and potential cost savings.\n \n * New, independent National Instrument 43-101 (\"NI 43-101\") year-end resource\n estimates showed a 33% net increase in LIM's year-end mineral resource to\n 59.5 million tonnes grading 56.7% Fe, including an increase in the combined\n Houston and Malcolm resource to 40.6 million tonnes grading 57.6% Fe. In\n addition, a new indicated and inferred resource was also estimated on\n historic stockpiles, providing supplementary plant feed for Silver Yards in\n future years.\n \n * LIM announced its first independent NI 43-101 inferred mineral resource\n estimate on the Elizabeth Taconite Project of 640 million tonnes grading\n 31.8% Fe.\n \n\"We are pleased with the solid start to our third operating season, highlighted\nby two shipments sold in June,\" commented Rod Cooper, President and Chief\nOperating Officer. \"Our operating crews have worked hard in addressing the\nchallenging weather conditions experience...