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: