Interim report January - September 2010

Wednesday, 27. October 2010 08:28
EVENTS DURING THE PERIOD

    ·         During the period, Dannemora Mineral signed a second trial
delivery agreement with Arcelor Mittal. The new agreement, which was signed in
October, covers approx. 10,000 tonnes and means that Dannemora will deliver a
total of approx. 25,000 tonnes of ore to Arcelor Mittal, which will include both
lump ore and sintered fines.

    ·         ThyssenKrup received a trial delivery, while Salzgitter and SSAB
conducted full-scale testing. The test results matched the customers'
expectations and negotiations on long-term supply contracts were initiated.

    ·         Negotiations on terms and conditions for bank financing were
launched in parallel with the customer agreement negotiations.

    ·         Renovation of the railway line between Örbyhus and Hargshamn is
proceeding according to plan and is expected to be completed by December 2010.
Other ongoing investments in ramp development and permanent water-pumping
systems are also on schedule.

    ·         The process to recruit seven key personnel before the operational
start-up of the Dannemora mine began.

    ·         Net sales for the period January - September 2010 amounted to SEK
20.8 million. Profit/loss after net financial items during the same period
amounted to SEK -41.6 million. Net sales for Q3 2010 amounted to SEK 13.4
million, while profit/loss after net financial items was SEK -12.7 million.


    ·         Total cash flow for the period January - September 2010 amounted
to SEK 196.8 million. Cash flow for Q3 2010 was SEK -23.3 million.
    ·         Investments in the period January - September 2010 amounted to SEK
20.8 million. Investments during Q3 2010 totalled SEK 13.1 million.

    ·         Cash & cash equivalents at 31 September 2010 amounted to SEK
257.3 million.



    The complete interim report can be downloaded from the link below:







[HUG#1455765]





Interim report January - September 2010 Dannemora Mineral:
http://hugin.info/137553/R/1455765/395671.pdf




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Source: Dannemora Mineral AB via Thomson Reuters ONE
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Author:
Hugin
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