Dannemora Mineral AB: Interim Report January - September 2009

  • Steel companies in Europe are gradually increasing their capacity utilisation now that the global economy is continuing to show signs of recovery. The World Steel Association is predicting that steel use in the world will increase by more than nine percent in 2010.
  • The draining of the mine is continuing according to plan. More than 2 million m3 of water has been pumped out and the main level of 350 metres has now been passed.
  • The production of ore products for trial deliveries started in September. 40,000 tonnes of iron ore are currently being processed in a mobile plant and negotiations are underway with several European steel companies.
  • Geophysical surveys of the measured ores in the northern section of the Dannemora field have shown extensions down to a depth of several hundred metres, and in some cases with the potential of going down to one thousand metres. 
  • Profit/loss after net financial items for the period January - September 2009 amounted to SEK -17.3 (-13.3) million.
  • Cash flow from operations in the period January - September 2009 was SEK -17.2 (-18.9) million.
  • Investments in the period January - September 2009 amounted to SEK 49.4 (44.2) million.
  • Cash & cash equivalents at 30 September 2009 amounted to SEK 72.9 (167.9) million.
 
The full report with tables can be downloaded from the following link:

About Us

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 also engages in exploration activities to increase the iron ore base locally and regionally, and to explore for base and precious metals in several areas in Uppland where the potential for finding mineable deposits is considered good. Dannemora Mineral comprises the Parent Company Dannemora Mineral AB and the wholly-owned subsidiaries Dannemora Magnetit AB (responsible for operation of the Dannemora mine and the Group’s exploration activities) and Dannemora Förvaltnings AB (responsible for the property portfolio). 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 at present. The Company is listed on NASDAQ OMX First North, Stockholm, and Oslo Axess. The Company's Certified Adviser on First North is Remium AB.