IGE announces final 2010 results
IGE Resources AB (OSE: IGE) today announced its final financial results for 2010. The final year-end results are slightly adjusted from the preliminary results announced on 22 February 2011.
IGE Resources AB’s net result for 2010 ended at SEK -477.3 million, adjusted from the SEK -455.7 million previously announced. The change is mainly caused by the difficulties in valuating and recovering IGE’s exploration and mining equipment in the Luxinge diamond mine, Angola. IGE withdrew from the mine in December 2010. The Company has now made a full write-off of this equipment.
IGE has also changed the accounting principles for the results contribution from its subsidiary Nickel Mountain Resources AB. An updated year-end report is attached to this press release.
For additional information, please contact:
CFO and acting CEO, IGE Resources AB
Telephone +46 8 402 28 0 5 / +46 70 552 26 22
IGE Resources AB (publ) is a Scandinavian company focusing on diamonds exploration and production in Southern Africa and the development of Scandinavia’s largest nickel deposit. IGE is headquartered in Stockholm and its shares are listed on the Oslo Stock Exchange (ticker: IGE). Please refer to www.ige.se for more detailed information.