Interim Report January - June 2013

Second quarter 2013

  • Net sales amounted to SEK 83.1 (13.6) million
  • Earnings per share amounted to SEK -4.45 (-7.31)
  • Cash flow was SEK 47.7 (-90.3) million
  • 158,000 tonnes of finished products were delivered
  • Investments made in the sorting plant have led to increases in weight recovery by an average of at least three percentage points
  • Unexpected pockets of waste rocks temporarily lowered the recovery in May. Since then the recovery has performed strongly
  • The rights issue raised SEK 211 million for the company before issuance costs

January- June 2013

  • Net sales amounted to SEK 171.8 (14.4) million
  • Earnings per share amounted to SEK -11.82 (-7.67)
  • Cash flow was SEK -56.1 (-333.3) million
  • 347,000 tonnes of finished products were delivered

Significant events after the end of the period

  • Stefan Månsson left the Board on 5 July
  • The company sought and was granted on 5 August, a temporary waiver from the terms of the bond agreement (ISIN NO 0010601198), which stipulates a minimum cash balance of SEK 50 million
  • Recovery growth has remained strong during the early part of the third quarter and hovered around 40 per cent
  • A new supply contract was concluded in August with voestalpine in Austria
  • The iron ore reference price has increased in the beginning of the third quarter and the spot price is at present about USD 137

For further information, please contact:

Ralf Nordén, President and  CEO
Telephone 46 709374891
ralf.norden@dannemoramineral.se

or

Niklas Kihl, CFO
Telephone 46295 - 24 44 20, 46730 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 also engages in exploration activities to increase the iron ore base locally and regionally 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) and Dannemora Iron Ore Development AB, where parts of the company’s future exploration will be operated.

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. 

The Company's independent qualified person is mining engineer Thomas Lindholm, Geovista AB, Luleå. 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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