Labrador Iron Ore (TSE:LIF) has released an update.
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Labrador Iron Ore Royalty Corporation reported a challenging fiscal year for 2023, with a 30% decrease in net income per share and a 17% drop in cash flow from operations compared to the previous year. The downturn was attributed to lower iron ore prices, reduced pellet premiums, and a less favorable sales mix. Despite these challenges, Iron Ore Company of Canada, from which LIORC earns royalties, maintained substantial dividend payments and ended the year with a robust net working capital balance.
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