Champion Iron has posted preliminary second-quarter revenue of C$403.9 million, supported by 4.5 million dry metric tonnes of iron ore concentrate sold. The figures remain unaudited, with final results due before management’s October 29 conference call.
- 3.9 million wet metric tonnes of concentrate produced
- 4.5 million dry metric tonnes sold
- C$89.9 per dry metric tonne realised price
- C$403.9 million in preliminary revenue
- Final results due before October 29 conference call
Preliminary Revenue Reaches C$403.9 Million
Champion Iron Limited (ASX:CIA) has generated C$403.9 million in preliminary revenue for the three months ended September 30, with sales of 4.5 million dry metric tonnes of iron ore concentrate. The company reported a net average realised selling price of C$89.9 per dry metric tonne.
The quarter’s production totalled 3.9 million wet metric tonnes. The difference between production and sales reflects the separate measurement bases used in the announcement and cannot, on its own, be read as a change in operating performance or inventory. Champion’s earlier Q3 FY2026 results were also built around quarterly production, sales and revenue metrics, although the company has not provided a comparative figure in this release.
Sales Volumes Outpaced Quarterly Production
For an iron ore producer, the sales figure is the more immediate revenue driver in this update. Champion sold 4.5 million dry metric tonnes during Q2 FY2027 against production of 3.9 million wet metric tonnes, while the realised price provides an early indication of the value captured from those shipments.
Champion operates the Bloom Lake mining complex in Québec and also owns Norwegian producer Rana Gruber. The company says Bloom Lake produces low-contaminant, high-purity concentrates and has a combined nameplate capacity of 15 million wet metric tonnes a year across two concentration plants. Those operational details provide the backdrop to the quarterly numbers, but the announcement does not disclose mine-by-mine production, costs, margins or cash flow.
Unaudited Figures Face Final Pricing Adjustments
The numbers are management estimates rather than final accounts. Champion said its quarterly close and review procedures are still under way, including the finalisation of provisional pricing, freight and other period-end adjustments. As a result, the final revenue, sales and realised price figures may differ.
Final financial statements and management commentary are scheduled ahead of the company’s conference call on October 29 in Montréal, or October 30 in Sydney. That release should provide the missing detail on costs, profitability, cash generation and the performance of the underlying operations. Until then, the headline revenue figure is useful as an early read on the quarter, but not a complete earnings picture.
Bottom Line?
The preliminary sales and revenue figures point to a substantial quarter, but the investment case still hinges on final pricing adjustments, margins and cash flow in the full results.
Questions in the middle?
- How much of the C$403.9 million revenue translated into operating cash flow and profit?
- What were the final provisional pricing and freight adjustments?
- How did Bloom Lake and Rana Gruber contribute individually to the quarter’s production and sales?