Interim Report 1 January - 30 June 2014

Second quarter 2014

  • Net sales amounted to SEK 136.0 (83.1) million

  • EBITDA amounted to SEK -28.3 (-52.0) million

  • Earnings per share amounted to SEK -3.68 (-4.45)

  • Cash flow was SEK -4.2 (47.7) million

  • Production of finished products remained high, amounting to 292 (196) thousand tonnes

  • Average recovery rate was 41 (34) percent

  • The company filed for and was granted company reorganization


January - June 2014

  • Net sales amounted to SEK 281.9 (171.8) million

  • Earnings per share amounted to SEK -6.13 (-11.82)

  • Cash flow was SEK 2.9 (-56.1) million

  • Production of finished products amounting to 587 (367) thousand tonnes


Significant events after the end of the period

  • On August 12, Dannemora Mineral applied for extension of the company reorganisation of Dannemora Mineral AB and Dannemora Magnetit AB to 13 November 2014. Uppsala District Court approved the application.

  • Dannemora Mineral signed a letter of intent with the Austrian steel group voestalpine for deliveries of about 300,000 tonnes of fines annually.


For further information, please contact:

Ralf Nordén, President and  CEO
Telephone +46 70 937 48 91
ralf.norden@dannemoramineral.se

or

Niklas Kihl, CFO
Telephone +46 730 797 363
niklas.kihl@dannemoramineral.se

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 at present.

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.

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.

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