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Interim Report January-March

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First quarter 2013

  • Net sales amounted to SEK 88.6 (0.8) million
  • Earnings per share amounted to SEK -8.71 (-0.03)
  • Cash flow was SEK -103.8 (-243.0) million
  • 189 kt of finished products were delivered
  • A rights issue of SEK 211 million was adopted at the EGM on 13 March
  • An update of the mineral reserve showed a total reserve of 34.0 mt
  • Ralf Nordén was appointed ordinary CEO from 15 June 2013
  • Exploration activities and exploration permits are grouped in the subsidiary Dannemora Iron Ore Development

Significant events after the end of the period

  • The subscription period for the rights issue ended on 10 April, with the issue fully subscribed.
  • Implemented measures have resulted in an increase in the yield from 30 percent in the first quarter to approx. 40 percent.

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.

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