Nordic Mines Full Year Report 2010
(Thomson Reuters ONE) -
Laiva-project according to plan
Gold production in Laivamine in Finland is approaching. The preparation work is
proceeding according to plan and overall budget. Mining of ore will commence in
June and gold production start in late August 2011.
CEO Michael Nilsson comments on progress in Nordic Mines Full Year Report for
2010 presented today, February 17, 2011.
"After a year of intensive preparations and work on getting the financing in
place, there are just months to go until production starts at the Laiva mine.
The latest contracts signed since the turn of the year mean that the investment
has essentially been completed and has been kept within the project's budget."
Nordic Mines aims to become one of the leading gold producers in Europe.
Exploration work is therefore continuing in Finland and Sweden alongside
development of the Laiva mine.
"The continued drilling in Laiva and its immediate vicinity Oltava, as well as
in Fjälltuna in Sweden, has brought positive results. The MSEK 87.2 new share
issue directed at institutional investors will provide us with the resources to
continue the exploration during the construction period", says Michael Nilsson,
CEO Nordic Mines.
Earnings after financial items for the quarter was MSEK -9.3 (MSEK -2.5) and
after deferred tax MSEK -3.9 (MSEK -2.5). A new share issue directed at
institutional investors in November 2010 injected MSEK 87.2 into the Group after
issue costs.
Earnings after financial items for the full year was MSEK -25.7 (MSEK -11.7)
and after deferred tax MSEK -4.9 (MSEK -11.7).
Investments for the quarter amounted to MSEK 76.2 (MSEK 5.1) and for the full
year to MSEK 337.7 (MSEK 48.4).
Uppsala, February 17, 2011
Nordic Mines AB (publ)
Zoon the complete report is available on the Nordic Mine website
http://www.nordicmines.se/
For further information, please contact:
Michael Nilsson, CEO, Nordic Mines, phone 46 (0)18 84 34 501, mobile +46 (0)70
567 64 10, mille(at)nordicmines.se
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Source: Nordic Mines AB via Thomson Reuters ONE
[HUG#1490264]
Unternehmensinformation / Kurzprofil:
Datum: 17.02.2011 - 17:15 Uhr
Sprache: Deutsch
News-ID 51649
Anzahl Zeichen: 2798
contact information:
Town:
Uppsala
Kategorie:
Business News
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