Summary: The Nunaminerals A/S Supervisory Board today reviewed and approved the
financial statements for the first six months of 2008.
The company suffered a net loss of DKK 1.9 million for the six-month period
after capitalisation of exploration costs. This financial result is in
accordance with the announced plans.
Activity level has increased 25% compared to 2007.
In the first six months of 2008, NunaMinerals has invested DKK 9.7 million in
exploration, following the plans most recently announced in its 2 June 2008
prospectus.
The company's listing has been moved from Dansk Autoriseret Markedsplads to the
main Nasdaq OMX Nordic Exchange Copenhagen list.
The company issued new shares in June 2008, increasing its share capital from
DKK 80.9 million to DKK 106.6 million. This share offering netted NunaMinerals
DKK 97.4 million in proceeds.
This new capital will ensure continuation of exploration activities until the
end of 2009.
At the beginning of 2008, NunaMinerals entered into an option agreement with
the worlds second largest platinum producer Impala Platinum Holding Ltd.
(Implats) regarding the Amikoq prospect in the Fiskefjord concession.
Cooperation is good and progress is according to plans.
Visible gold matching auriferous structures on the surface has been found in
drillings in the Qussuk prospect all in accordance with the expected geological
model. Due to the positive results the drill programme will be expanded.
In the Vagar project successful georadar measurements have taken place. Due to
the positive results drilling at selected locations will take place during the
winter.
Two new exclusive concessions were granted in the first half of 2008, and three
existing concessions expanded. The company has also applied for a new exclusive
concession in northern Greenland.
The projection for the 2008 financial year continues to be an operating loss of
DKK 34 million before capitalisation of exploration costs and an operating loss
of DKK 4 million before financial items and after capitalisation of exploration
costs.
Announcement is given in attached file
