Endomines AB (publ): Press Release - Summary of Interim Report for
the 3rd quarter ending September
(Thomson Reuters ONE) - The press release can be downloaded from the following link:Press release (PDF)During 2009, Endomines has completed several important steps todevelop the business from exploration to full-scale gold production.By the end if 2010, the company will commence production at thePampalo Mine, with a projected output of 900-1 000 kg of gold perannum.Further deposits along the Karelian Gold Line will be exploitedsubsequently. Endomines has additional claims and mining concessionsin Finnish Lappland (gold), Ostrobothnia (ilmenite) and SouthernFinland (limestone/wollastonite).Summary of events since last Interim Report * Markus Ekberg appointed new CEO (Aug. 2009) * Endomines Oy received a loan guarantee of 6 MEUR from Finnvera * In order to finance the gold production, the Board of Directors have decided to launch a rights issue of 179 MSEK, subject to approval by the shareholders' meeting, and have signed a project financing facility with Nordea Bank Finland. The rights issue is fully underwritten * Endomines has called an extraordinary shareholders' meeting for Nov. 12, 2009, with a view to seeking approval for the proposed rights issue and setting up a employee share options program * Endomines Oy acquired 292 ha of land a the Pampalo Mine * Gold processing and production equipment investments were concluded in October, in line with the construction schedule."As a result of carefully planned work over several years, Endominesis now ready to commence the extraction and production of gold atPampalo, along the Karelian Gold Line. The commencement of productionat Pampalo is an important milestone in Endomines' as well asFinland's mining history of mining. Although we are a relativelysmall company, we have raised project financing from Nordea, togetherwith credit guarantees from Finnvera, as well as investment subsidiesfrom the Finnish State. Together with the support of our shareholdersthis will enable the commencement of gold production along theKarelian Gold Line." - Karl-Axel Waplan, Chairman of the Board"All the employees of Endomines now have the exciting task ofbuilding the necessary infrastructure, to start and maintain goldmining operations, and to produce gold concentrate as well asdeveloping Endomines other concessions along the Karelian GoldLine." - Markus Ekberg, CEOSummary of key financial figures: * Earnings per share amounted to -0,67 SEK (-0,44), of which 3rd quarter -0,31 SEK (-0,15) * Earnings after tax amounted to -12 321 KSEK (-8 000), of which 3rd quarter - 5 768 KSEK (-2 832) * Cash Flow -20 965 KSEK (-29 748) of which 3rd quarter -6 298 KSEK (-7 539)Full interim report (in Swedish) is available at Endomines.comEndomines applies SveMin's & FinnMin's mutual rules for reporting(public mining & exploration companies). Endomines has chosen toreport resources and reserves according to JORC-code or to NI 43-101which are internationally accepted.Endomines applies the International Financial Reporting Standards(IFRS), as approved by the European Union.This increases thepossibilities to compare the Company with other internationalexploration- & mining companies. The Endomines share is quoted on theOMX First North Premier list in Stockholm: [ENDO.ST].Home page: www.endomines.comFor further information:Please contact: CEO Markus Ekberg, cell phone: +358-40-706 48 50.http://hugin.info/138043/R/1352910/327569.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 05.11.2009 - 11:59 Uhr
Sprache: Deutsch
News-ID 7970
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"Endomines AB (publ): Press Release - Summary of Interim Report for
the 3rd quarter ending September "
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