First quarter 2014
Net sales amounted to SEK 145.8 (88.6) million
EBITDA amounted to SEK -11.2 (-78.6) million
Earnings per share amounted to SEK -2.45 (-8.71)
Cash flow was SEK 7.2 (-103.8) million
Production of finished products remained high, amounting to 295 (171) thousand
Average recovery rate was 40 (30) %
The company’s financial position remained very strained
Significant events after the end of the period
The company was granted further extensions of the due date for its bridge
financing and deferrals of its interest payments.
An update of the mineral reserve showed a fall in tonnage from 34.0 million
tonnes to 29.1 million tonnes.
Dannemora Mineral published its plans for a long-term solution to finance the
investments required for profitable mining operations and to repay its bridge
For further information, please contact:
Ralf Nordén, President and CEO
Telephone 46 709374891
Niklas Kihl, CFO
Telephone 46295 - 24 44 20, 46730 797 363
Dannemora Mineral AB is a mining and exploration company of which the primary
activity is mining operations in the Dannemora iron ore mine. The Company
intends to engage in exploration activities to increase the iron ore base
locally and regionally.The Company’s most important asset is the iron deposit in
the Dannemora Mine, and activity is focused mainly on the mining of this deposit
The Company is listed on NASDAQ OMX First North, Stockholm, and Oslo Axess. The
Company's Certified Advisor on First North is Remium Nordic AB.
The Company's independent qualified person is mining engineer Thomas Lindholm,
Geovista AB, Luleå. Thomas Lindholm is qualified as a Competent Person, as
defined in the JORC Code, based on education and experience in exploration,
mining and estimation of mineral resources of iron, base and precious metals.
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