The press release including tables can be downloaded from the following link: Press release (PDF) Due to current market conditions the board of Endomines has decided for the time being not to proceed with the directed issue of approximately 45 MSEK that the board was authorised to carry out at the time of the extraordinary shareholders' meeting on 9 June 2008. The goal was that the issue, directed to new institutional investors, would be finalized before the vacation period. The postponement affects the ability to accelerate the investments in the concentrating plant and the Pampalo mine. The board and the management group are reviewing the conditions to carry out parts of the key investments in the accelerated plan and thereby enabling a shorter time to production. The initial investment plan remains until further notice. It is described in the 2007 prospect and involves a rights issue to existing shareholders during the fourth quarter of 2008 and production start during 2010 at the latest. Stockholm 18 July 2008 Endomines AB (publ) The Board For further information, please contact: Timo Lindborg, CEO, tel +46 8 611 6645 This is Endomines Endomines AB (publ) prospects and develops mineral deposits in Finland. The company owns exploration rights or mining concessions for all known gold deposits along the Karelian Gold Line, among others it owns mining concessions in Pampalo mine in which the company has a goal of commencing production during the second half of 2009. Endomines also has exploration rights for a number of gold deposits in the Finnish Lapland. Further to gold the company also focuses on the industrial mineral ilmenite which is showing stable demand growth and price development. These ilmenite deposits are located in Central Ostrobothnia, Finland. Endomines applies SveMin's and FAERI's common reporting rules for public mining and exploration companies. Endomines has chosen to show mineral resources according to the JORC or NI 43101 code, both accepted internationally. Endomines also applies International Financial Reporting Standard (IFRS) as reporting standards for account principles and practice. This thereby increases the possibility to compare the company to international mining and exploration companies. Read more of Endomines' press releases at http://www.endomines.com/news.php
Endomines postpones the planned directed issue of approximately 45 MSEK
| Source: Endomines AB