English

Arctic Gold AB (ARCT): Interim report for January - June 2012

Report this content

Second Quarter (April – June 2012)

  • Capitalized exploration costs for the second quarter amounted to 1.1 (2.7) mkr
  • P/L after tax for the second quarter totaled -1.4 (-1.4) mkr
  • P/L per share for the second quarter totaled -0.13 (-0.18) kr

First quarter (January – March 2012)

  • Capitalized exploration costs for the first half year amounted to 3.2 (3.7) mkr
  • P/L after tax for the first half year totaled -2.4 (-2.9) mkr
  • P/L per share for the first quarter totaled -0.22 (-0.38) kr

Important events during the second quarter

  • Changes in the Board of Directors
  • The municipality of Kautokeino rejects the processing of Arctic Gold's Planprogram.
  • Arctic Gold modifies the Planprogram and re-submits
  • No new decision from the Kautokeino Municipal Government
  • Arctic Gold stops all activites in Bidjovagge for the time being after the political treatment in Kautekeino
  • Several politicians open the door for re-processing of our case in Kautokeino

Important events after the end of the reporting period

  • New plan for continued work decided upon by the Board of Directors
  • Work with activities directed at the poolitical sector started along with expanded activities within sectors of the Norwegian mining industry
  • Arctic Gold's modified application for Planprogram to be processed at the Kautokeino municipal goverment meeting on October 3, 2012

For further information, please contact the company's CEO and Qualified Person as per SweMin as well as Europe Geologist.

Lars-Åke Claesson
CEO
Arctic Gold AB
 46 18 156423
 46 70 6733294
claesson@arcticgold.se
www.arcticgold.se

Arctic Gold's business concept is to engage in exploration activities to discover and demonstrate commercially extractable gold and base metal deposits in Scandinavia. The strategy is primarily to carry out exploration work and either sell the project within a few years or to establish mining activities under the company's own control or through a partnership with other companies. Arctic Gold focuses mainly on the Bidjovagge project in northern Norway and current gold and base metal permits in Västerbotten and Norrbotten. Arctic Gold's shares are listed on NASDAQ OMX First North under the ticker ARCT. Certified Adviser is Erik Penser Bankaktiebolag. More information about company is available at www.arcticgold.se.

Tags:

Arctic Gold

Documents & Links