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LABRADOR IRON ORE ROYALTY CORPORATION - RESULTS FOR THE THIRD QUARTER ENDED SEPTEMBER 30, 2010
LABRADOR IRON ORE ROYALTY CORPORATION - RESULTS FOR THE THIRD QUARTER ENDED SEPTEMBER 30, 2010
About this update from Labrador Iron Ore Royalty Corporation
[{"type":"text","content":"\n\n\n\n Oct. 29, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nTORONTO, Oct. 29 /CNW/ - Labrador Iron Ore Royalty Corporation (TSX:\n LIF.UN) announced its results for the third quarter ended September 30,\n 2010.\n\n\nSince inception in 1995, we have reported to our unitholders as an\n income trust. Commencing with this report we are reporting to the\n holders of stapled units (the "Unitholders") as Labrador Iron Ore\n Royalty Corporation ("LIORC"). The conversion from a trust to a\n corporation took place with effect on July 1, 2010. Stapled units\n consist of subordinated notes and common shares of LIORC. Unitholders\n will notice differences in the financial statements, in that previously\n the reported income of the Trust was also the net income to the\n Unitholders. Under the stapled unit arrangement, the income of the\n Unitholders will be the total of the net income of LIORC plus the\n interest from the $248 million LIORC subordinated notes. Thus all net\n income, adjusted cash flow and per unit figures referred to in this\n report use the totals according to the financial statements plus (where\n applicable) the $7,488,000 ($0.234 per unit) interest on the\n subordinated notes payable to the Unitholders by LIORC. Note 1 to the\n Financial Statements explains in detail the basis of their\n presentation.\n\n\nRoyalty income for the third quarter of 2010 amounted to $40.59 million\n as compared to $15.51 million for the third quarter of 2009. The\n ...