NORDIC MINES AB (publ): Interim report third quarter 2016
(Thomson Reuters ONE) -
Third quarter of 2016
* Revenues were SEK 0.0 million (SEK 0.0 million) as the Laiva Mine is on care
and maintenance and not in production.
* The Company reported an operating loss of SEK -3.1 million (SEK -12.6
million).
* Loss after tax for the period amounted to SEK -2.9 million (SEK -15.6
million), corresponding to SEK -0.01 (SEK -0.29) per share.
* Cash and cash equivalents were SEK 3.5 million (SEK 6.7 million, 30 June
2016) at the end of the period.
* Equity was SEK 501.9 million (SEK 504.4 million, 30 June 2016) at the end of
the period.
* Nasdaq Stockholm imposed a fine of 7 times the annual listing fee
(approximately SEK 1.5 million)
* Secured shareholder loans of SEK 4.3 million to fund the running costs of
the Company
* Nasdaq Stockholm put the Company on observation status on the basis that the
Company does not have adequate cash reserves for the next three months
* Undertook a positive 70 ton optical ore sorting test at the Björkdal mine,
Sweden
January - September 2016
* Revenues were SEK 0.0 million (SEK 0.0 million) due to the production stop
at the Laiva mine.
* The Company reported an operating loss of SEK -24.9 million (SEK -67.3
million).
* Loss after tax for the period amounted to SEK -24.7 million (SEK -76.1
million), corresponding to SEK -0.04 (SEK -1.41) per share.
* Comprehensive income for the period was SEK -23.0 million (SEK -76.8
million).
Significant events after September 30, 2016
* The Company secured a further SEK 2,3 million in shareholder loans
* The Company made several changes to management in October to strengthen the
team.
* The Company secured USD 2.0 million in funding from Lau Su Holding AB in a
combination of shareholder loan, new equity and preferential shares which
will be subject to shareholder approval. It will also convert its existing
shareholder loan of USD 0.25 million into preferential shares. For more
information please read the press release about financial remodelling,
released 30(th) November 2016.
* Lao Tzu Investments AB has agreed to convert its shareholder loan of USD
0.25 million into preferential shares on the same terms as Lau Su Holding
AB, subject to shareholder approval.
For further information, please contact:
D. Saradhi Rajan, +44 743 271 1564
info(at)nordicmines.se
NORDIC MINES AB (publ): Interim report third quarter 2016:
http://hugin.info/138647/R/2060449/772471.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Nordic Mines AB via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 30.11.2016 - 09:06 Uhr
Sprache: Deutsch
News-ID 509924
Anzahl Zeichen: 3259
contact information:
Town:
Stockholm
Kategorie:
Business News
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