Century Iron Mines Corporate Presentation - November 2013
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Century Iron Mines Corporate Presentation - November 2013

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Century Iron Mines Corporate Presentation - November 2013

Century Iron Mines Corporate Presentation - November 2013

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    Century Iron Mines Corporate Presentation - November 2013 Century Iron Mines Corporate Presentation - November 2013 Presentation Transcript

    • Q1 ended June 30, 2013 Century IRON MINES CORPORATION Corporation Presentation November 2013 TSX: FER www.centuryiron.com
    • Forward Looking Statement Except for statements of historical fact, this presentation contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “project”; “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices for metals, the conclusions of detailed feasibility and technical analyses, lower than expected grades and quantities of mineralization and resources, mining rates and recovery rates and the lack of availability of necessary capital, which may not be available to the Corporation on terms acceptable to it or at all, changes in and the effect of government policies with respect to mineral exploration and exploitation, the ability to obtain required permits, delays in exploration and development projects and the possibility of adverse developments in the financial markets generally, potential environmental issues and liabilities associated with exploration and development and mining activities. The Corporation is also subject to the specific risks inherent in the mining business as well as general economic and business conditions. The Corporation undertakes no obligation to update forward-looking information if circumstances or management’s estimates should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. More detailed information about potential factors that could affect financial results is included in the documents that may be filed from time to time with the Canadian securities regulatory authorities by the Corporation. Century Iron Mines Corporation 2
    • The momentum of the Chinese economy continues ... In August 2013, its steel production surpassed the rest of the world for the first time …. and the rest of the world will recover for sure Global Crude Steel Production China's Share V.S. Rest of the World (in million tonnes) World Exc. China China China's Share (in percentage) 900 800 700 657 649 690 661 665 720 699 722 748 799 788 826 856 815 780 807 831 60% 794 769 >50% 50% 655 40% 600 500 30% 400 300 200 100 95 222 152 182 101 109 115 124 129 273 356 421 490 512 577 637 683 717 775 795 20% 10% 0% - 2013 August month & YTD figures are annualized Century Iron Mines Corporation _ 3
    • A stabilizing spot market is driving higher long-term price forecasts on record high iron ore import to China @ 74.6Mt in Sept 2013 with low port inventory @ 73.3Mt … 250 30/09/13 31/08/13 31/07/13 30/06/13 31/05/13 30/04/13 31/03/13 28/02/13 31/01/13 31/12/12 30/11/12 31/10/12 30/09/12 31/08/12 31/07/12 30/06/12 31/05/12 30/04/12 31/03/12 29/02/12 31/01/12 31/12/11 30/11/11 31/10/11 30/09/11 31/08/11 31/07/11 30/06/11 31/05/11 30/04/11 31/03/11 28/02/11 31/01/11 31/12/10 30/11/10 31/10/10 30/09/10 31/08/10 31/07/10 30/06/10 31/05/10 30/04/10 31/03/10 28/02/10 29/01/10 29/12/09 29/11/09 29/10/09 29/09/09 29/08/09 29/07/09 29/06/09 29/05/09 0 $133.6 150 4 Century Iron Mines Corporation Brazil FOB TSI FE 62% Spot C3(Brazil-China) Closing Price @October 14, 2013 TSI Fe 62% Daily Spot Price CFR China VS Brazil Daily FOB US $ 200 $26.7 100 $106.09 50
    • … Large valuation gap – trading below working capital & JV cash … Financial highlights (Sept. 30, 2013 except otherwise stated) Cash and cash equivalents Total working capital $33.7M $54.0M Cash in JV for project development not included above Cash received from WISCO per JV agreement on September 19, 2013 $ 2.9M $20.0M Capital structure (Nov. 13, 2013) Shares outstanding 94,187,071 Options (@$2.92 - $4.00) outstanding 9,870,000 Fully diluted 104,175,571 Share Price $0.485 Market Capitalization (approximately) $46 million Share structure Founding shareholders and directors (excluding management) Management (Note 1) (Note 1) 32.0% 22.7% WISCO (approx. 24.6% & 60% Off take) and Minmetals (4.9%) – Strategic Partners 29.5% Public Shareholders 15.8% Total Century Iron Mines Corporation 100.0% (Note 1: Approx. 52.9% subject to voluntary min. lockup of 3 yrs from May 2011 to production) 5
    • Strategic Partnerships – A Proxy for China Iron Ore Projects WISCO International Resources Development & Investment Ltd (PRC) Approx. 25% 5% Century Interest +60% off-take Joint Venture (in Billions or million of tonnes) Exploration & Development (Luxembourg) Limited S.à.r.l Corporation (TSX: FER) 60% NSR Hayot 2 Four projects acquired from Altius Minerals Inc. (TSX: ALS) (Note 3) 4 35% Note 2 Sunny Lake Project 2 3 Joyce DSO 100% 65% 100% 100% (Note 1) (Note 2) Attikamagen Project Full Moon Minmetals Iron Mines 40% Champion Iron Mines Ltd. (TSX: CHM) Multi Bt resources under management Approx. Augyva Mining Resources Inc. (TSXV: AUV) 4 Duncan Lake Project 1 3 Hayot Joyce (DSO) Full Moon Duncan Total Measured & indicated - 10.0 Mt 7.3 Bt 1.1 Bt 8.4 Bt Inferred 1.7 Bt 5.6 Mt 8.7 Bt 0.6 Bt James Bay Area 11.0 Bt NI 43-101 Resources 1 Duncan Lake Note 1: Currently a 65% interest under an option and joint venture agreement with Augyva Mining Resources Inc. Note 2: Entered into an agreement with Champion to acquire all its remaining interest in Attikamagen on Sept 30, 2013 for 2M shares plus warrants & NSR Note 3: A portion of the Astray has been spun out to Northern Star which will assume the exploration obligations while Century maintains a 20% therein 6
    • Credit Suisse Analysis  Century is the top six largest attributable contained iron ore resource in the world (without Vale)  Century is trading at the lowest EV per contained Fe tonne  Century has more equity interest in DSO and taconite projects with a production target of 2015 Century Iron Mines Corporation Source: Company data, Credit Suisse estimates 7
    • Two Prong Strategy: Short-Term Low Capital Intensity DSO & Long-Term High Volume Project Development Approach to Maximize Economic & Strategic Value to China … 30 Taconite 7.3 Bt (M&I) 8.7 Bt (Inferred) 4 25 Full Moon High Volume 4 20 10.0 Mt (M&I) 5.6 Mt (Inferred) 15 DSO 10 2 DSO 1.7Bt (Inferred) 18km DSO Labrador Trough Production Mtpa Target DSO 3 Taconite (conceptual illustration only. Does not represent Company’s current actual assessment of its resource(1) TSH & QNSL Rail to Sept Iles Century Iron Mines Corporation 1 5 Closest distance Target 2 Mtpa On capex <$100M 0 2015 Joyce DSO 1 2016 DSO (1) Please 2 2017 3 DSO 2018 2019 Taconite see cautionary disclaimer statement on page 2 8
    • Progressive DSO Project Development Low capital intensity, short development cycle … Joyce Lake Schefferville W. Lac Le Fer Other DSOs Ownership   60% WISCO – 40%  100%   60% WISCO – 40%   Resource    M+I: 10Mt Inf: 5.6Mt Continued drilling to expand/upgrade resource    Geophysics Orientation drilling Resource drill ready    Geophysics Orientation drilling Resource drill ready  Exploration PEA  BFS  Target completion 2014 EIS  In progress  Target completion 2014 Production  2Mtpa (target)  Targeting 2015-16 Infrastructure  Joyce Lake spur rail / road infrastructure will benefit subsequent DSO projects  Existing capacity can accommodate Off take  60% WISCO Century Iron Mines Corporation 100% 60% Succeeding DSO projects to sustain a continuous DSO operation with movable equipment designed for possible minimal capex  100% available  60% WISCO  60% WISCO 9
    • Joyce Lake DSO Deposit NI 43-101 Resource Estimate SGS Mineral Resource Estimate Summary (at 50% Fe cutoff – March 7, 2013) Resource Category Million Tonnes Grade Tfe% Measured 5.0 60.44 Indicated 5.0 58.44 Total M & I 10.0 59.45 Inferred 5.6 55.78 Resource Highlights      Century Iron Mines Corporation Resource model based on 118 holes Assay coverage contains 3,854 assay intervals totaling 11,739 metres Covering an area of 1.1Km along strike & 600m width The mineralization remains open to the south Continuing exploration to expand resource 10
    • Joyce Lake DSO Deposit Preliminary Economic Assessment (March 25, 2013) Pre-tax Payback IRR NPV @8% Post-tax 2.5 years 2.6 years 37% 27% $90.4M $51.8M Based on 100% ownership of the project  Note: The PEA is preliminary in nature. It may incorporate inferred mineral resources which are considered too geologically speculative to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There can be no certainty that the estimates contained in the PEA will be realized. In additional, mineral resources that are not mineral reserves do not have demonstrated economic viability. Century Iron Mines Corporation 2 Mtpa of lump (35%) and sinter fines (65%) production at 62.2% Fe with a mine life of 4 years (first year: 1Mt) as a first stage  Total estimated capital costs (excluding sustaining capital) of C$96.6 million  Total estimated operating costs (loaded in a ship at Port of Sept-Iles) of C$62.8 per tonne of lump and sinter fines 11
    • .. A bite-size project within reach of balance sheet & market cap Joyce Lake Preliminary Economic Assessment FOB Operating Cost (Note 1) $/tonne Mine Crushing & Screening Plant General and Administration Product Hauling Rail Yard Operation Rail Transportation Port Handling 21.40 4.35 6.85 2.82 0.86 22.36 4.16 Total Opex FOB, Sept Iles 62.80 Highlights: Joyce Lake Mine 10.8 Crushing & Screening Plant 10.5 Railroad and Yard Rail Cars Haulage Road and Infrastructure Trucks (1) (2) (1) (2) Total Direct Cost 10.3 20.4 24.3 6.7 83.0 Indirect Cost at 10% of Direct 5.6 Contingency 10% of Direct Cost 8.0 Total Project Cost 96.6 Highlights: $ 108/t $ 93/t Note 1: Opex is estimated on FOB Sept Iles basis Note 2: Based on 100% ownership of the project Century Iron Mines Corporation $ millions (excluding mobile equipment) 2.0 Mtpa of lump (35%) and sinter fines (65%) production at 62.2% Fe with a mine life of 4 years (first year: 1Mt) as a first stage PEA FOB price assumptions: Lump Sinter fines Capital Cost Infrastructure benefiting future operation Trucks & Ore Cars (leasable) (1) (2) 34.3 27.0 12
    • Post-PEA Drilling Update on Joyce Potentially expanding & upgrading resource ... Century Iron Mines Corporation 13
    • .. Recent positive post PEA drilling results suggest potential expansion of resource ..    Post-PEA drilling results announced Oct 7, 2013 reporting expected high grade mineralization & new high grade intercepts (some within 70m from PEA pit limits) Potential expansion and upgrade of current resource estimate An addition drilling program to further test the potential of the extension of Joyce commenced September Joy 13-140: 3-39 m at 60.27% TFe Section 1N Joy 13-130: 132-159 m @61.30%; : Joy 13-143: 126-168 m 63.93% Fe ; Joy 13-145: 3-48m @ 57.40% and 108-126 m 66.12% Fe Century Iron Mines Corporation Joy 13-120, 134, 138 and 147 14
    • Joyce Lake Development Roadmap 2013 2014 2015 2016 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Environmental Studies Feasibility (BFS) Permitting & IBA Construction & Overburden removal / Mining & Pre-Production Commercial Production & Shipping Century Iron Mines Corporation 15
    • DSO Beyond Joyce Lake A number of DSO targets under exploration P8 DSO Target P2 DSO Target Helluva DSO Target P3 DSO Target P1 DSO Target P9 DSO Target Hayot North DSO Target Joyce LK DSO Deposit Joyce South DSO Target Prudhomme DSO Target Wishart No. 4 DSO Target Red Dragon DSO Target
    • Additional DSO Targets Sunny Lake – Lac Le Fer Section Prospect #2 Sample Fe % 5376 48.6 5377 41.1 5378 46.9 5379 46.6 5380 48.5 5381 Mn % 0.05 0.06 0.11 0.05 0.69 59.7 0.14 Prospect #3 SiO2 Mn SiO2 % Sample Fe % % % 31.82 5383 56.4 0.36 15.1 35.92 5384 59 0.08 15.42 22.28 5385 59.5 0.11 13.9 31.78 5386 41.4 0.25 37.48 31.68 5387 67.1 0.22 1.88 2.76 5388 58.4 0.11 10.65 50.8 0.55 23.4 63.8 0.22 5.91 Prospect #4 9957 66.8 2.06 5391 5392 9958 55.8 0.06 18.54 5394 57.7 0.17 14.08 59.4 58.8 63.3 62.1 0.3 Prospect #5 9759 9760 9761 43.3 0.21 34.9 43.5 0.03 35.61 60.2 0.06 11.52 5395 5396 5397 5398 9762 58.8 0.24 13.87 5399 57.6 0.28 14.24 5400 9751 9752 9753 42.8 61.2 67.4 66.6 9961 63.1 0.28 7.72 Prospect #6 9763 9764 9765 44.9 2.88 34.02 61.5 0.12 7.93 23.8 0.24 59.9 9766 9767 38.3 0.12 40.51 61.5 0.21 2.67 9768 56.7 0.09 10.09 0.11 0.22 0.17 1.83 4.32 2.67 0.1 0.23 13.12 4.03 6.06 5.34 28.43 6.98 2.27 3.46 Fe samples > 55%* * Assay results from 1951 exploration program (M. Tremblay) Century Iron Mines Corporation 17
    • LLF P3 DSO Target, Mag and Gravity LLF P3 DSOLLF-P3-004 Assay result Length Sample From to TFe % ID (m) 502509 3 9 6 9.48 502510 9 12 3 52.5 502511 12 15 3 56.3 502513 15 18 3 58.5 502514 18 21 3 60.5 502515 21 24 3 60.8 502516 24 27 3 64.5 502517 27 30 3 64.7 502518 30 33 3 64.6 502519 33 36 3 65.3 502520 36 39 3 64.6 502521 39 42 3 64.7 502522 42 45 3 66.2 502523 45 48 3 65.5 502524 48 51 3 67.1 502526 51 54 3 Naturally enriched >62% grade & good thickness 58.3 LLF-P3-004 62.3% FeT/45.0m (ended in IF) Proposed Holes Completed Holes Century Iron Mines Corporation Completed Holes 18
    • Schefferville West: Red Dragon DSO target  Redmount    Three gravity anomalous belts are delineated, length at 5 – 12 km long; corresponding to leached BIF; Two correlated to magnetic low; High grade mineralized ore exposed; Two RC holes encountered 12-15 m >60% TFe zone. Re-trenching and exploratory drilling Century Iron Mines Corporation 19
    • Drill Section SWI 12-1203 9-54 m: 54.33% Incld: 9-24 m: 65.82% Century Iron Mines Corporation 20
    • Full Moon Taconite Deposit, Rainy Lake First Resource Estimate by SRK Mineral Resource Estimate* (at 20% Fe cutoff – December 6, 2012) Resource category Billion tonnes Grade TFe% Indicated 7.260 30.18 Inferred 8.694 29.86 Resource Highlights     Resource model based on 124 diamond holes on 22,900 meters (out of total 2010-12 total drilling of 30,941 meters over 148 diamond holes; An update resource estimate to come upon complete results on all holes modeled & analyzed 11km strike length (open both to the north & south of the Deposit) & up to 4km across Combined true thickness of iron ore units often exceeds 200m * Mineral Resource Evaluation, Full Moon Taconite Iron Deposit SRK Consulting,, Jean-Francois Couture, December 6, 2012 Century Iron Mines Corporation 21
    • Full Moon Taconite Deposit Thicker than usual, better economics 2.75km 31.3% 152m 30.4% 272m 30.2% 224m 28.4% 341m 27.9% 242m Usual taconite thickness 100m 100m Iron Ore Units 29.1% 234m Iron Ore Units Iron Ore Units 29.0% 115m Section Line 0 Century Iron Mines Corporation 22
    • Transportation – Iron Projects in Labrador Trough Full Moon Lac Le Fer Adriana (WISCO) Sunny Lake Attikamagen Schefferville Joyce & Hayot Altius Projects Ross Bay Junction Labrador City  QNS&L (Common Carrier) runs 573km from Schefferville to Sept-Iles  Attikamagen to Schefferville: 15km (from the closest point)  Joyce Lake targets 1-3Mtpa DSO • Using existing Railroad infrastructures: QNS&L & TSR  Rainy Lake (Full Moon) targets 20Mtpa+ Mont-Wright Sept-Iles Pointe-Noire Port-Cartier Railway Distance: Schefferville to Ross Bay Junction: 217 km Ross Bay Junction to Sept-Iles: 356 km 0 50 100 km Labrador City to Ross Bay Jct: 58 km Mont-Wright to Port Cartier: 400 km Century Iron Mines Corporation 23
    • Port of Sept-Iles: 50Mtpa Expansion IOC Port Multi user Berth By Port of Sept-Iles  Main port is over 23.2 m in depth Alumina Plant  Accommodates Capesize or larger vessels  Fully equipped, can be operated yearround 0 500 m • Natural shelters, deep water for year-round access by iron ore ships • Ability to expand as required Century Iron Mines Corporation  50Mtpa $220M expansion plan to be completed in 2014 with more than $100M in commitments from miners and governments, $55M from federal government 24
    • Management Gearing up for 2015-6 production & beyond SVP, Mine Development & Logistics Robert Girardin, Logistics Ivan Wong, SVP Corp Finance & Project Sandy Chim Rebecca Ng, CFO President & CEO Development Ricky Chan, VP, Planning & Operations Claude Britt, Chief Geologist Michael Skutezky, General Counsel & Corporate Secretary Core competence, expertise and experience Ghislain Arel, Mining Hubert Vallee Bob Leshchyshen, VP, IR & Corporate Development New iron ore mine development Iron ore mining & logistic operations Century Iron Mines Corporation Resource discovery & development China steel mill & iron ore trading Capital market & building materials 25
    • Summary  Low capital intensity 2Mtpa DSO production Joyce Lake Project within reach of balance sheet and market cap  Global Fortune 500 Strategic Partners (WISCO & Minmetals) / Off-takers from China – A proxy for China  Top 10 iron resource company in the world providing economic and strategic value for China … second phase longer term development on high volume taconite projects  Management with track record of performance – managed through the last part of cycle well to put company in a strong cash position in a very tough market  Trading below working capital / cash in JV – large valuation gap Century Iron Mines Corporation 26
    • What sets Century Iron Mines apart Projects Products Competitiveness • Labrador Trough • Long history as mining camp with operating infrastructure • Joyce Lake (DSO) • PEA  BFS • ~20km to Schefferville / rail • EIS  permit 2014 • Targets 2Mtpa on >$100M capex – bite size • Other DSO targets & high volume deposits along strike • Global Fortune 500 Strategic partners: WISCO & Minmetals • DSO (Direct Shipping Ore) – • One of most popular products for blast furnaces • Off-take: 60% WISCO, with balance available to other strategic partners (Minmetals) & traders • Concentrate & pellet products over the long term • Bite-size DSO projects • Low capital intensity • Quick to production • Reasonable cost • 2Mtpa – existing infrastructure can accommodate Century Iron Mines Corporation Capital • $>$100M capex • $50M working capital on balance sheet • Received an additional $20M (Sept) from WISCO by JV 27
    • Appendices Century Iron Mines Corporation 28
    • Comparable Table (based on total resources) Companies in the Labrador Trough Stock (Mils) tonnes Symbol ADI Adriana Resources Inc. (1) NML New Millennium Capital Corp. (2) CEV Cap-Ex Ventures Ltd. CHM Champion Iron Mines Ltd. FEO Oceanic Iron Ore ADV Alderon Resource Corp. (7) LIM Labrador Iron Mines Holdings Limited MT CLF RIO Major Iron Companies ArcelorMittal (including Baffinland) Cliffs Natural Resources (3) Rio Tinto plc (IOC) (5) FER Century Iron Mines Corp. (4) Duncan Lake Joyce Lake Hayot Lake Rainy Lake Total FER Total all companies Century Iron Mines Corporation NI43-101 Resources Disclosed Proven & Measure Probable & Indicated Inferred 0 5,750 0 0 1,359 669 0 20,640 14,016 0 858 1,268 1,275 44.6 6,840 4,405 7,200 3,997 193 523 5.2 Total 27,480 24,171 7,200 4,854 2,821 2,466 49.8 2,340 649 1,374 4,903 1,976 1,091 1,510 711 1,372 8,753 3,336 3,837 0 0 0 0 0 1,051 10.0 0 7,260 8,321 563 5.6 1,723 8,694 10,985 1,614 15.6 1,723 15,953 19,306 12,141 54,391 37,741 (1) Adriana: Wisco has 60% interest in the property (2) New Millennium: Tata Steel has 80% interest in all the properties except Lac Ritchie (3) Cliffs: WISCO has a 25% interest in Bloom Lake (4) Century: Auguyva has 35% in Duncan Lake and WISCO has 40% interest in all of the other properties. 104,273 (5) Rio Tinto plc has a 58.72% in IOC, Mistibishi has 26.18% interest and Labrador Iron Ore Royalty Corp. has a 15.1% interest. (6) Alderon: Hebei Iron & Steel Group Co. Ltd has a 25% interest in Kami iron project Prepared by: Bob Leshchyshen, MBA, CFA . 29
    • Comparable Table (based on attributable resources) Companies in the Labrador Trough Stock (Mils) tonnes Symbol NI43-101 Resource Estimates ADI Adriana Resources Inc. (1) NML New Millennium Capital Corp. (2) CEV Cap-Ex Ventures Ltd. CHM Champion Iron Mines Ltd. FEO Oceanic Iron Ore ADV Alderon Resource Corp. (7) LIM Labrador Iron Mines Holdings Limited MT CLF RIO FER Major Iron Companies ArcelorMittal (including Baffinland) Cliffs Natural Resources (3) Rio Tinto plc (IOC) (5) Century Iron Mines Corp. (4) Duncan Lake Joyce Lake Hayot Lake Rainy Lake Total FER Total all companies Century Iron Mines Corporation Attributable Tonnes Contained FE tonnes Fe% Fe% Fe% Proven & Measure Proven & Measure Proven & Measure Probable & Indicated Inferred Probable & Indicated Inferred Probable & Indicated Inferred 0 1,757 0 0 438 197 0.0 6,145 4,121 0 172 410 378 25.2 2,038 1,303 2,102 1,670 64 154 2.9 0 30.55% 0 0 32.21% 29.52% 0 28.94% 29.63% 0 30.58% 32.36% 29.68% 56.45% 30.40% 30.31% 29.20% 28.49% 32.90% 29.45% 55.42% 0 351 0 0 438 148 0.0 2,402 2,493 0 277 410 284 25.2 832 813 2,102 1,105 64 115 2.9 Total 3,234 3,657 2,102 1,382 912 547 28.0 809 198 522 1,471 595 417 603 20 521 34.56% 30.55% 38.00% 30.00% 30.11% 38.21% 39.94% 28.60% 38.00% 809 155 307 1,471 534 245 603 20 306 2,883 709 858 0 0 0 0 256 5.9 0 2,191 2,453 139 3.1 538 2,596 3,277 0 0 0 0 0 24.39% 59.45% 0 30.18% 29.45% 24.70% 55.78% 31.25% 29.86% 29.81% 0 0.0 0 0 0 167 3.6 0 1,315 1,485 90 1.9 323 1,558 1,973 257 5.4 323 2,872 3,458 3,921 16,189 11,755 32.30% 29.76% 31.15% 2,207 9,625 7,937 19,769 Prepared by: Bob Leshchyshen, MBA, CFA 30
    • Comparable Table (based on attributable resources) Stock symbol NML ADI CEV CHM FEO ADV FER New Millennium Capital Corp. Adriana Resources Inc. Cap-Ex Ventures Ltd. Champion Iron Mines Ltd. Oceanic Iron Ore Corp. Alderon Resource Corp. Close 13-Nov 2013 $0.71 $0.19 $0.055 $0.22 $0.095 $1.77 52 week Shares Low High O/S (mils) $0.60 $1.63 180.0 $0.175 $0.495 157.6 $0.055 $0.50 97.8 $0.155 $0.81 137.4 $0.08 $0.20 196.6 $0.88 $2.23 130.1 Century Iron Mines Corp. $0.485 $0.30 Name $1.05 94.2 Market Cap $mils $127.8 $29.9 $5.4 $30.2 $18.7 $230.4 $442.4 Cash ($mils) $47.2 $50.9 $1.7 $3.1 $4.2 $113.8 $221.0 $45.7 $33.7 EV Enterprise Value ($mils) $85.4 ($21.0) $3.9 $27.1 $17.6 $116.5 $229.5 FE P&P M&I mils tonnes 2,844.0 2,401.9 0.0 276.7 848.2 431.7 6,802.6 $12.0 1,484.8 EV/ FE tonne $0.030 ($0.009) n/a $0.098 $0.021 $0.270 $0.034 FE Total* mils tonnes 3,657.2 3,233.6 2,102.4 1,381.7 911.9 547.2 11,834.0 EV/ FE tonne $0.023 ($0.006) $0.002 $0.020 $0.019 $0.213 $0.019 $0.008 3,457.6 $0.003 * Total includes Proven and Probable, Measure and Indicated and Inferred Resources. Century Iron Mines Corporation Prepared by: Bob Leshchyshen, MBA, CFA 31
    • Contact Information Century Iron Mines Corporation Bob Leshchyshen VP, Corporate Development and IR (416) 977-3188 Ext. 109 bob.leshchyshen@centuryiron.com CHF Investor Relations Robin Cook Senior Account Manager (416) 868-1079 Ext. 228 robin@chfir.com Century Iron Mines Corporation 32