Bli medlem
Bli medlem

Du är här


Nordic Mines AB: Nordic Mines informs about the ongoing work with the updated business plan for the Laiva mine

The English version of this press release is an unofficial translation of the
Swedish original. In the event of any discrepancies between the Swedish text
and the English translation, the Swedish text shall take precedence. This is
not a legal document.

As previously announced, Nordic Mines has delivered an indicative updated
business plan and an updated financial model for the Laiva mine to the
Company's lenders for approval. Nordic Mines is now discussing the re-start
of the Laiva mine with the Company's lenders as well as a number of
alternatives for strengthening the project structurally, operationally and
financially. Nordic Mines' original goal, which was previously announced, was
to present an approved updated business plan during March 2015. Due to the
ongoing discussions, the Company has now made the assessment that approval
will not be granted before the end of March 2015. The Company's revised goal
is therefore to conclude the ongoing discussions and through a press release
present in April 2015, or at the latest May 2015, a final, updated business
plan for the Laiva mine that has been approved by the Company's lenders.

With the aim of achieving the Company's overall goal of restarting operations
at the Laiva mine in a manner that creates conditions for profitable mining,
Nordic Mines is now moving forward in its planning with the evaluation of a
number of alternatives to strengthen the Laiva project structurally,
operationally and financially. The Company is evaluating various partnerships
for the refinement process and possible structural transactions within the
Nordic gold mining industry. Nordic Mines is also evaluating different
alternatives for creating more financial flexibility once operations have
been restarted, for example through the pre-sale of gold production and gold
deliveries, renegotiated supplier terms or other types of bridge financing
for working capital.

The updated business plan for the Laiva mine was prepared in collaboration
with the well-respected international mining consulting company, SRK
Consulting (UK) Limited (SRK). SRK also prepared the updated mineral reserve
and the mineral resource for the Laiva mine, which the Company presented in a
press release on 26 February 2015.
For more information, please contact:

Thomas Cederborg, CEO, +46 (0)70 848 0521
Jonatan Forsberg, CFO, +46 (0)76 105 1310

For more information about Nordic Mines, please visit

The information presented above has been disclosed pursuant to the Securities
Markets Act and/or the Financial Instruments Trading Act. The information was
published on 26 March 2015 at 8:00 a.m.

Nordic Mines is a Nordic mining and exploration company. Gold production began
in the Laiva mine in Finland at the end of 2011. 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

Nordic Mines informs regarding the updated plan for the Laiva mine


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX 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


Författare Hugin

Tala om vad ni tycker

Tala om vad ni tycker

Ni är just nu inne på en betaversion av nya aktiespararna. Lämna gärna feedback på vad ni tycker i formuläret nedan.