Nordic Mines publishes its 2014 Annual Report and an update regarding funding
(Thomson Reuters ONE) -
The English text is an unofficial translation of the Swedish original, and in
the event of any discrepancies between the Swedish text and the English
translation, the Swedish text shall prevail. This is not a legal document.
PRESS RELEASE 26 May 2015
The 2014 Annual Report for Nordic Mines AB (publ) is now available at the
Swedish company's website, www.nordicmines.com. The Annual Report is only
available in Swedish.
Update regarding funding
During 2015, as previously communicated, Nordic Mines has evaluated several
different alternatives for strengthening its liquidity in conjunction with a
restart of the Laiva mine. The Company currently has made the assessment that an
additional EUR 7 million in working capital is needed for the mine to be self-
funding. In addition, EUR 3 million will be needed for seasonal investments and
EUR 2 million for a liquidity reserve. In total, there is an additional capital
need of EUR 12 million in order to restart operations at the Laiva mine in a
reliable manner. Liquidity-strengthening measures can include, for example, the
pre-sale of gold production and gold deliveries, renegotiation of supplier
terms, other types of bridge financing for working capital, a share issue or
collaborations with strategic or financial partners.
For further information, please contact:
Eva Kaijser, MD, +46 (0)70 932 09 01
Jonatan Forsberg, CFO, +46 (0)76 105 13 10
For more information about Nordic Mines, please visit www.nordicmines.se.
The information presented above has been disclosed pursuant to the Securities
Markets Act and/or the Financial Instruments Trading Act. This information was
published on 26 May 2015 at 8:00 a.m.
Nordic Mines is a Nordic mining and exploration company. Gold was produced
during the years 2011 and 2014 at the Laiva mine in Finland. The deposit is
among the largest in the Nordic region. Nordic Mines is a member of Svemin and
applies its reporting regulations for public mining and exploration companies.
The Nordic Mines share has been admitted for trading on the Nasdaq Stockholm's
Small Cap list. Also refer to www.nordicmines.se.
Nordic Mines Annual Report 2014 (Swedish):
http://hugin.info/138647/R/1923767/689912.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Nordic Mines AB via GlobeNewswire
[HUG#1923767]
Unternehmensinformation / Kurzprofil:
Datum: 26.05.2015 - 08:00 Uhr
Sprache: Deutsch
News-ID 395617
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"Nordic Mines publishes its 2014 Annual Report and an update regarding funding"
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