06:47 AM EDT, 04/24/2024 (MT Newswires) -- Champion Iron ( CIAFF ) overnight Tuesday reported production results and mining operation expenditures for its financial fourth quarter ended March 31. Detailed operational and audited financial results are to be released prior to the company's conference call and webcast scheduled for May 31.

Among highlights from the Q4 update, the company cited quarterly production of 3.3 million wet metric tonnes, sales of 3.0 million dry metric tonne and cash cost of approximately $77/dmt.

"We followed our strategy to push Bloom Lake beyond its nameplate capacity in the previous quarter, resulting in short-term production volatility, but enabling us to identify and confirm bottlenecks within our facilities," Champion's Chief Executive David Cataford said in a statement. "Our technical team is now analyzing the investments required to structurally increase production at Bloom Lake beyond 15 Mtpa over time."