Dannemora Mineral seeks waiver
As a result of discussions with bondholders holding a majority in the bonds, (ISIN NO 0010601198), Dannemora Mineral will be seeking a temporary waiver from the term of the bond concerning an interest payment of USD 7.05 million as of September 22, 2013. The company will also seek an extension of the previously granted waiver, granted in the beginning of August, which requires a minimum cash liquidity of SEK 50 million.
A majority of bondholders have indicated that they are inclined to accept the requests. Norsk Tillitsman (the Bond Trustee) will summon the bondholders to a bondholders’ meeting on or about October 2, 2013 to make a formal decision in respect of the requests.
Dannemora Mineral will continue the discussions with the bondholders and other stakeholders regarding the future financing of the company.
For further information, please contact:
Ralf Nordén, President and CEO
Telephone 46 709374891
ralf.norden@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 intends to engage in exploration activities to increase the iron ore base locally and regionally in several areas in Uppland where the potential for finding workable 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, Dannemora Iron Ore Development AB, responsible for the Group's exploration, 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 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.