Interim Report January - June 2010

EVENTS DURING THE PERIOD 

·         Dannemora Mineral signed iron ore trial delivery agreements with Arcelor Mittal (15,000 tonnes) and SSAB (5,000 tonnes). This means the Company has now signed trial delivery agreements with six European steel companies.

·         A second private placement targeting Norwegian investors brought approx. SEK 87 million.

·         Dannemora's B share was listed on the Oslo Stock Exchange and a diversification issue was implemented prior to commencement of trading which brought approx. SEK 6 million.

·         Renovation of the railway line to Hargshamn began.

·         Net sales for the period January - June 2010 amounted to SEK 14.6 (1.6) million. Profit/loss after net financial items during the same period amounted to SEK -28.9 (-11.6) million. Net sales for Q2 2010 amounted to SEK 13.9 (0.7) million, while profit/loss after net financial items was SEK -15.0 (-5.8) million.

·         Total cash flow for the period January - June 2010 amounted to SEK 220.2 (-63.7) million. Cash flow for Q2 2010 was SEK 64.3 (-37.6) million.

·         Investments in the period January - June 2010 amounted to SEK 7.8 (46.0) million. Investments during Q2 totalled SEK 4.4 (19.6) million.

·         Cash & cash equivalents at 30 June 2010 amounted to SEK 280.6 (82.6) million.

EVENTS AFTER THE END OF THE REPORTING PERIOD

·         Yvonne Gille has taken up her position as Dannemora Mineral's Head of Human Resources and Information, and has joined the Company's management group.

The Interim Report including tables can be downloaded from the link below.