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New Millennium Iron Corp. (T:NML)

Business Focus: Iron Ore Mining

Sector:  Basic Materials Industry:  Steel
See Regulatory Filings on SEDAR
Company Contact
Address: 250 2 St SW Suite 1000
Tel: 1-416-5779927
IR: See website
Key People
Mario B. Caron
Chairman of the Board, Acting Chief Executive Officer
Robert P. Boisjoli
Chief Financial Officer
Rock Gagnon
Vice President - Operations and Taconite Project Leader
Brigitte Masella
Vice President - Environmental and Social Affairs
Business Overview
New Millennium Iron Corp. is engaged in the exploration, evaluation and development of mineral properties. The Company operates through the exploration and evaluation of mineral resources segment. Its Taconite Project has centered on the development of either or both of the LabMag and KeMag deposits to produce pellets and concentrate. The LabMag Property is located in Western Labrador, centered approximately 30 kilometers to the northwest of the town of Schefferville, Quebec. It controls the Millennium Iron Range (MIR), which holds undeveloped magnetic iron ore deposits in Canada's iron ore district, the Labrador Trough, located in the Province of Newfoundland and Labrador and in the Province of Quebec. The Howells River North deposits are located between the LabMag and KeMag deposits. The Lac Ritchie property is located at the north end of the Range. The Direct Shipping Ore (DSO) Project contains approximately 98.9 million tons of measured and indicated mineral resources.
Financial Overview
For the nine months ended 30 September 2019, New Millennium Iron Corp revenues decreased from C$85K to C$0K. Net loss increased from C$851K to C$5M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Higher net loss reflects General and administrative expenses increase of 18% to C$854K (expense), Mineral exploration and evaluation increase from C$67K (income) to C$28K (expense).
Employees: 4 as of Dec 31, 2016
Reporting Currency: Canadian Dollars
Enterprise value: N/A
Annual revenue (TTM): $-0.09M as of Sep 30, 2019
EBITDA (TTM): -$6.02M as of Sep 30, 2019
Net annual income (TTM): -$3.80M as of Sep 30, 2019
Free cash flow (TTM): $3.15M as of Sep 30, 2019
Net Debt Last Fiscal Year: N/A
Shares outstanding: 181,054,146 as of Sep 30, 2019
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization