Nickel Mountain Group AB: Interim financial report for the six month period January 1 – June 30, 2015 and for the quarter April – June 2015 (Q2)

STOCKHOLM--()--Regulatory News:

Highlights during the second quarter of 2015

  • The administrative court (Förvaltningsdomstolen) in Luleå, Sweden, has in the middle of May repealed the extension of one of the exploration permits granted to NMG.
  • A desk study on the iron oxide (magnetite by-product) concluded that the by-product cannot be sold without NMG integrating forward in to production of merchant pig iron (“MPI”). This information, in combination with depressed nickel prices, resulted in NMG temporarily stopping the Rönnbäcken nickel project investment program and booking an MSEK 82 impairment charge.
  • The June 2015 AGM decided to enable NMG to conduct other business than minerals, and the company is actively reviewing new business opportunities.

Major events after end of the report period

  • In early July 2015 the Swedish public prosecutor filed criminal charges against two of the four former NMG Board Directors in office during first half of 2013 and responsible for the Ghana Gold-transaction.  This is beneficial to NMG in the sense that is increases the likelihood of NMG winning the ongoing civil court case against the same Board Directors.

Financial results for the six-month period January – June 2015 and for the quarter April – June 2015

  • The net result after tax for the 6-month period January – June 2015 amounted to MSEK –85.1 (MSEK –10.2). This corresponds to earnings per share (EPS) of SEK –0.94 (SEK –0.49 including discontinued operations and SEK -0.26 excluding discontinued operations).
  • The total comprehensive result for first six months of 2015 was MSEK –85.1 (MSEK –11.3).
  • The net result after tax for the last quarter April – June 2015 amounted to MSEK –84.1 (MSEK –3.3). This corresponds to earnings per share (EPS) of SEK –0.93 (SEK –0.15 including discontinued operations and SEK -0.10 excluding discontinued operations).
  • The total comprehensive result for the second quarter of 2015 was MSEK –84.1 (MSEK -4.4).

Torbjörn Ranta

Managing Director

Tel: 46 8 402 28 00

Mobile: 46 708 855504

E-mail: torbjorn.ranta@nickelmountain.se

This information was brought to you by Cision http://news.cision.com

Contacts

Nickel Mountain Group AB
Torbjörn Ranta, 46 8 402 28 00 (T) or 46 708 855504 (M)
Managing Director
torbjorn.ranta@nickelmountain.se

Contacts

Nickel Mountain Group AB
Torbjörn Ranta, 46 8 402 28 00 (T) or 46 708 855504 (M)
Managing Director
torbjorn.ranta@nickelmountain.se