Inactive Instrument

Northland Resources SE

NRSRF

LU0488722801

Northland Resources S.A. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014 and Production Results for the Second Quarter Ended June 30, 2014; Reports Impairment of Assets for the Second Quarter Ended June 30, 2014

August 14, 2014 at 10:13 pm

Northland Resources S.A. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014 and production results for the second quarter ended June 30, 2014. For the quarter, the company's net sales for the quarter were USD 31.062 million compared to USD 40.7 million in the first quarter of 2014, and USD 18.571 million for the quarter ended June 30, 2013. Operating loss was USD 178.770 million against USD 38.136 million a year ago. Loss before tax was USD 200.024 million against USD 75.545 million a year ago. Loss for the period from continuing operations was USD 197.885 million or USD 1.98 per diluted share against USD 75.685 million or USD 14.72 per diluted share a year ago. Loss for the period was USD 250.055 million or USD 2.50 per diluted share against USD 76.141 million or USD 14.81 per diluted share a year ago. LBITDA was USD 8.2 million against USD 24.6 million a year ago.

For the six months, the company reported sales of USD 71.803 million against USD 24.315 million a year ago. Operating loss was USD 218.935 million against USD 77.783 million a year ago. Loss before tax was USD 231.853 million against USD 114.412 million a year ago. Loss for the period from continuing operations was USD 229.704 million or USD 2.29 per diluted share against USD 114.552 million or USD 22.28 per diluted share a year ago. Loss for the period was USD 282.331 million or USD 2.82 per diluted share against USD 115.547 million or USD 22.47 per diluted share a year ago. LBITDA was USD 18.9 million against USD 57.1 million a year ago. Net cash from operating activities was USD 16.541 million against USD 55.290 million a year ago. Investment in exploration and evaluation assets was USD 1.319 million against USD 6.347 million a year ago. Acquisition of Property, plant and equipment including mines under construction was USD 119.864 million against USD 120.389 million a year ago.

For the quarter, the company's total concentrate produced in the quarter was approximately 442,000 dry metric tones (DMT) compared to 256,000 dry metric tones produced a year ago.

For the quarter, the company reported impairment of assets of USD 140.263 million.

Latest news about Northland Resources SE

A group of investors acquired a majority stake in Northland Resources AB from Northland Resources SE (OB:NAUR).	30/08/16	CI
Tapojärvi Oy acquired Hannukainen Iron Ore Mine in Kolari from Northland Resources S.A.	06/05/15	CI
A group of investors cancelled the acquisition of Northland Resources AB from Northland Resources SE (OB:NAUR)	04/12/14	CI
Northland Resources S.A. Reports Consolidated Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014	28/11/14	CI
A group of investors bid to acquire Northland Resources AB from Northland Resources SE (OB:NAUR).	20/11/14	CI
Northland Resources SE Continues Reorganization for its Subsidiaries	03/11/14	CI
Northland Resources SE Announces Board Changes	17/10/14	CI
Northland Resources to Terminate 240 Employees	14/10/14	CI
Olli Vaartimo to Leave Northland Resources SE as Director and Chairman of the Audit Committee	14/10/14	CI
Northland Resources SE Finalizes Organizational Changes with Labor Unions	13/10/14	CI
Northland Resources SE to Halt its Operations	07/10/14	CI
Northland Resources SE Provides Production Guidance for the Third Quarter of 2014	30/09/14	CI
Northland Resources S.A. will Change its Name to Northland Resources SE	17/09/14	CI
Northland Resources S.A. Announces Changes in the Corporate Management	18/08/14	CI
Northland Announces Changes in the Corporate Management	18/08/14	CI
Northland Resources S.A. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014 and Production Results for the Second Quarter Ended June 30, 2014; Reports Impairment of Assets for the Second Quarter Ended June 30, 2014	14/08/14	CI
Northland Resources S.A. Announces Reductions of Employees Within Administrative Staff of Swedish Subsidiaries; Announces Resignation of Willy Sundling as Vice President of Environment, Health and Safety	21/07/14	CI
Northland Resources S.A. Announces Executive Changes	16/07/14	CI
Northland Resources S.A. and Labor Union Reach an Understanding Concerning Employees with Collective Agreement	15/07/14	CI
Northland Resources S.A. Announces Change in Board of Directors	19/06/14	CI
Northland Resources S.A.'s Board Recommends to Relocate its Registered Seat from Luxembourg to Sweden	14/05/14	CI
Northland Resources S.A. Reports Consolidated Unaudited Earnings and Operating Results for the First Quarter Ended March 31, 2014; Provides Operating Guidance for the Year 2014	14/05/14	CI
Northland Resources S.A. Announces Executive Changes	14/05/14	CI
Northland Resources S.A. Receives Positive DFS on Hannukainen IOCG Project	25/03/14	CI
Northland Resources S.A. Reports Consolidated Earnings Results for the Fourth Quarter and Year Ended Dec. 31, 2013	28/02/14	CI

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Company Profile

Northland Resources SE, formerly Northland Resources SA (Northland) is a development-stage mining company, with two principal projects in northern Sweden and Finland, which filed for bankruptcy. It is engaged exploration and development. The Kaunisvaara project is located in Northern Sweden, while the Hannukainen project is located across the border in northern Finland. The Kaunisvaara project consists of the two iron ore deposits Sahavaara and Tapuli, located approximately 100 kilometers north of the Arctic Circle in Norrbotten County, Sweden. Hannukainen is located in the Kolari district of northern Finland. The deposit in Hannukainen also contains copper and gold. Marjarova is an iron ore exploration target.

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Iron & Steel

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