Interim report April-June 2015

(This is a translation of the Swedish version. If any differences, the Swedish is the valid one.)

Second quarter-April to June

  • Operating income totaled -1 174 (-2 107) KSEK
  • Profit after tax was for the period amounted to -1 465 (-2 107) KSEK
  • Earnings per share were -0.02 (-0.05) SEK
  • Equity per share amounted to 0.14 (0.32) SEK

The period from January to June

  • Operating income totaled -2 641 (-3 635) KSEK
  • The result after tax was -2 138 (-3 654) KSEK
  • Earnings per share were -0.03 (-0.10) SEK
  • Equity per share amounted to 0.14 (0.32) SEK

Significant events after the end of the reporting period

The company has entered into a framework agreement with the Golden Kingdom Holding regarding sales of magnetite to China and the focus is now to begin these deliveries.

Delta Minerals

Delta Minerals AB is a public Swedish limited company listed on AktieTorget with rights to carry out environmental projects in the Philippines with the support of regional/local authorities. The company's goal is to begin operations in estuaries of Northwestern Philippines for the extraction of minerals and sand.

The company's operations

Delta Minerals during the period signed a Memorandum of Understanding (MOU) with CHAHAYA SHIPPING AND TRADING co. PTY LTD for the initially sale of 500,000 tons of sand per year and with an objective to reach 1.5 million tons per year. Deliveries will begin, once the logistics is in place, such as loading and anchoring.

After the end of the reporting period, the company has signed a so-called framework agreement with Golden Kingdom Holding (GKH) for the sale of magnetite to China. GKH is a Singaporean trading company.

This agreement complements the previously signed agreement with SunGlobe Mining and Resources Corporation.

The successful development of Cagayan and the sales agreements with Chahaya, SunGlobe Mining and Resources Corporation and now Golden Kingdom Holding are important foundations for the production of magnetite and sand. We have also built up inventory for delivery and it has yet to be shipped. It is our expectation to begin shipments at year end.

It has taken longer than expected to get sales ongoing and hence the financial situation is strained. The company board works on funding to ensure the future of the business.

The company focus is above all to get the sale going.

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