Interim Report First Quarter
(Thomson Reuters ONE) -
Significant events during the period
* Dannemora Mineral implemented a private placement which raised SEK
103,500,000 before issue costs. This is considered to have secured the
remaining capital requirement until a positive cash flow is achieved.
* An update of the Company's mineral reserve reported 35.1 million tonnes of
probable mineral reserves grading 35.3 percent iron, which is is an increase
of 6.9 million tonnes.
* A new ramp connection to the surface was completed. This is a crucial
component for significantly improved logistics in the mine and an early
production start.
* Dannemora Mineral signed a ten-year terminal services agreement with Hargs
Hamn AB, which means that Dannemora has now resolved the entire supply chain
from mine to ship loading.
* The Court confirmed that King Carl XVI Gustaf will perform the official
opening of the Dannemora iron ore mine on 13 June 2012.
* Net sales for the period January - March 2012 amounted to SEK 0.8 (0.8)
million. Profit/loss after net financial items during the same period
amounted to SEK -0.4 (-8.0) million.
* The total cash flow for the period January - March was SEK -243.0 (767.1)
million.
* Cash & cash equivalents at 31 March 2012 were SEK 383.3 (979.2) million.
Significant events after the end of the period
* The Company's production started on 2 April, when the sorting plant began
operations, which means that the year's production plan has been adhered to.
* Dannemora Mineral has decided to resume the process of getting its shares
admitted to trading on the NASDAQ OMX Main List.
Read the Report below
Interim Report 1 2012:
http://hugin.info/137553/R/1606097/508918.pdf
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originality of the information contained therein.
Source: Dannemora Mineral AB via Thomson Reuters ONE
[HUG#1606097]
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Datum: 26.04.2012 - 02:01 Uhr
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