Initiation: Iron in the fire
Champion Iron is a Canada-based iron ore explorer with a significant presence in the Fermont Iron Ore District, an established iron ore region that hosts a number of large-scale operating mines. Champion’s most advanced project, Fire Lake North (FLN), is expected to produce 9.3Mtpa of high-grade sinter fines concentrate with low impurities. While the project is infrastructure constrained, requiring a 310km rail line and access to the port, the recent government initiative to restart the rail feasibility study is positive and could significantly de-risk the project. We value FLN at C$823m based on an NPV10 and a long-term iron ore price of US$90/t.Champion Iron is engaged in the mineral exploration in Australia and Mozambique.
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