Dannemora Mineral posts negative SEK 11.2 million first-quarter EBITDA

By Caroline Salls

Pittsburgh, April 28 - Dannemora Mineral AB reported negative SEK 11.2 million of first-quarter EBITDA on SEK 145.8 million of net sales, according to a news release.

Earnings per share for the quarter were negative SEK 2.45, and cash flow was SEK 7.2 million.

The company said its financial position remained very strained.

As previously reported, Dannemora was granted further extensions of the due date for its bridge financing and deferrals of its interest payments after the quarter ended.

In addition, the company published its plans for a long-term solution to finance the investments required for profitable mining operations and to repay its bridge financing.

Dannemora Mineral is an iron ore producer based in Danderyd, Sweden.

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