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News Releases

News Releases

RESULTS FOR THE SECOND QUARTER ENDED JUNE 30, 2010

August, 10, 2010

Toronto

Labrador Iron Ore Royalty Income Fund (TSX: LIF.UN) announced its results for the second quarter ended June 30, 2010.

This is the last quarterly report of the Fund. Next quarter, we will be reporting as Labrador Iron Ore Royalty Corporation (the "Corporation). The conversion under the Arrangement approved by the Unitholders at the Annual and Special Meeting became effective on July 1, 2010. The Corporation's stapled securities (shares and notes) continue to trade on the Toronto Stock Exchange under the symbol LIF.UN.

Royalty income for the second quarter of 2010 amounted to $52.10 million as compared to $19.24 million for the second quarter of 2009. The Fund’s cash flow from operating activities after adjustments for changes in amounts receivable, accounts payable and income taxes payable (adjusted cash flow) for the second quarter was $30.48 million or $0.95 per unit as compared to $12.58 million or $0.39 per unit for the same period in 2009. Net income was $69.07 million or $2.16 per unit compared to $17.78 million or $0.55 per unit for the same period in 2009.

Please download PDF file for further information.

 


For further information, please contact:
Bruce C. Bone
Chairman & Chief Executive Officer
(416) 863-7133