STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
In the context of continuing discussions and negotiations regarding the terms of a potential long-term financing solution for the Dannemora group (STO: DMAB), a short extension to the maturity date of the 21 MSEK bridge financing obtained by Dannemora Magnetit AB, a subsidiary of Dannemora Mineral AB, from 19 February 2014 to 28 February 2014 has been agreed. Dannemora Magnetit AB has requested the bondholders to approve further drawdowns under the bridge financing and a formal approval is expected to be taken in the bondholders' meeting scheduled for 25 February 2014.
Dannemora Mineral AB is a mining and exploration company of which the primary activity is mining operations in the Dannemora iron ore mine. The Company also intends to engage in exploration activities to increase the iron ore base locally and regionally in several areas in Uppland where the potential for finding workable deposits is considered good.
Dannemora Mineral comprises the parent company Dannemora Mineral AB and the wholly-owned subsidiaries Dannemora Magnetit AB, responsible for operation of the Dannemora mine, Dannemora Iron Ore Development AB, responsible for the Group's exploration, and Dannemora Förvaltnings AB, responsible for the property portfolio.
The Company’s most important asset is the iron deposit in the Dannemora Mine, and activity is focused mainly on the mining of this deposit at present.
The Company is listed on NASDAQ OMX First North, Stockholm, and Oslo Axess. The Company's Certified Advisor on First North is Remium Nordic AB.
The Company's independent qualified person is mining engineer Thomas Lindholm, Geovista AB, Luleå. Thomas Lindholm is qualified as a Competent Person as defined in the JORC Code based on education and experience in exploration, mining and estimation of mineral resources of iron, base and precious metals.
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