Click here to close now.


News Feed Item

Northland Resources Announces Third Quarter 2012 Results

LUXEMBOURG, LUXEMBOURG -- (Marketwire) -- 11/14/12 -- Northland Resources S.A. (TSX:NAU)(FRANKFURT:NPK)(OSLO:NAUR)(OMX:NAURo) ("Northland" or the "Company") announced today its financial results for the third quarter ended September 30, 2012.

The President and CEO of Northland Resources S.A., Karl-Axel Waplan, made the following comments on the report for the third quarter of 2012:

"The third quarter of 2012 was yet another period in which we were able to achieve a number of important milestones, and the Company is now very close to establishing itself as a producer of iron concentrate. At mid-October we blasted the first iron ore in our Tapuli mine and, within a few weeks, we expect to start the process plant and to begin loading the 90-tonne trucks for onward transport to Pitkajarvi and then by rail to the port in Narvik. The first shipments to customers are expected to be made in the first quarter 2013.

"During the quarter we executed two drawdowns of in total about USD 240 million from the bond loan facility. This will enable us to start production at the Kaunisvaara project.

"The logistics chain is very important for Northland and I am thus very pleased that we during the third quarter received the confirmation from the Swedish Transport Administration that they have allocated the four rail slots that we requested on the rail line from Pitkajarvi to Narvik. Also the road from the mine in Kaunisvaara to the trans-loading terminal in Pitkajarvi will be upgraded following the Swedish Governments decision to invest SEK 1.3 billion which will upgrade the road to ensure capacity for 90-tonne trucks. Following the initial upgrade and thorough test runs, Northland and the truck operator Cliffton Mining were awarded dispensation to use trucks with a gross weight of 90 tonnes instead of the Swedish standard of 60 tonnes. The heavier trucks will reduce the wear on the road as well as the environmental impact."

 and                  Q3          Q3        Q1-Q3        Q1-Q3              
Annual        (3 months)  (3 months)   (9 months)   (9 months)    12 months 
 Information       ended       ended        ended        ended        ended 
 USD             Sep 30,     Sep 30,      Sep 30,      Sep 30,      Dec 31, 
 millions           2012        2011         2012         2011         2011 
Net Profit /                                                                
 (Loss)              3.7        (3.9)       (19.2)        (3.7)       (38.1)
- per share,                                                                
 USD                0.01       (0.02)       (0.04)       (0.02)       (0.17)
 Sweden              0.9         0.7          1.9          2.2          2.7 
 Finland             3.2         5.8          9.8         14.9         20.1 
Mines under                                                                 
 and Norway        150.3        57.5        402.2         95.5        180.2 
Cash, end of                                                                
 balance           166.1       119.9        166.1        119.9         38.3 
Number of                                                                   
 shares      514,178,899 225,483,899  514,178,899  225,548,899  226,628,899 


Northland aims to accomplish the following during remainder of 2012:

1. Complete the first stage of the construction of the Kaunisvaara Project on time

2. Start production at Kaunisvaara

The Company has begun work at the Tapuli Mine and expects to start operation of its process plant in the fourth quarter of 2012, with the first concentrate shipments being made in early 2013. Northland expects to ramp up its capacity to 4 million dry metric tonnes per annum ("dmtpa") of concentrate in the beginning of the third quarter of 2014.

3. Complete the DFSs for the Hannukainen Project and the Pellivuoma deposit

The Hannukainen Project and Pellivuoma deposit DFSs are expected to be published in the beginning of first quarter 2013.

A full version of the third quarter 2012 Management's Discussion and Analysis ("MD&A") and the Unaudited Interim Financial Statements has been posted on the Company's website, today, November 14, 2012 and they will be available on Readers should be advised that the summarized communication presented in this press release is limited in its disclosure. It is not a suitable source of information for readers who are unfamiliar with the Northland Resources, and it is not in any way a substitute for reading the Unaudited Interim Financial Statements and MD&A because a reader relying on this summary alone might overlook decision critical information.

Coming Report Dates                                                         
February 12, 2013:   Financial Statement and MD&A for Q4 2012 and           
                     Full-Year 2012                                         
May 8, 2013:         Financial Statement and MD&A for Q1 2013               
August 8, 2013:      Financial Statement and MD&A for Q2 2013               
November 14, 2013:   Financial Statement and MD&A for Q3 2013               

Annual General Meeting

The 2013 Annual General Meeting of Northland S.A. will be held on Thursday, May 16, 2013 in Luxembourg.


Certain statements contained in this MD&A and elsewhere constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made, and readers are advised to consider such forward-looking statements in light of the risks set forth below.

Karl-Axel Waplan, President & CEO, Northland Resources S.A.

Northland is set to become a producer of iron ore, with a portfolio of production, development and exploration mines and projects in northern Sweden and Finland. The first construction phase of the Kaunisvaara Project is near completion and production is expected to start in November 2012. The Company will produce high-grade, high-quality magnetite iron concentrate in Kaunisvaara, Sweden, where the Company will exploit two magnetite iron ore deposits, Tapuli and Sahavaara. Northland has entered into off-take contracts with three partners for the entire production from the Kaunisvaara Project over the next seven to ten years. The Company is also preparing a Definitive Feasibility Study ("DFS") for its Hannukainen Iron Oxide Copper Gold ("IOCG") project in Kolari, northern Finland and for the Pellivuoma deposit, which is located 15 km from the Kaunisvaara processing plant.

Northland Resources S.A.
Karl-Axel Waplan
President and CEO
+46 705 104 239

Northland Resources S.A.
Peder Zetterberg
Acting CFO
+46 708 652 120

Northland Resources S.A.
Anders Antonsson
Vice President - Investor Relations
+46 709 994 970

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"eFolder does a lot of different things but we protect data and we are focused on protecting data no matter where it resides," explained Carlo Tapia, Product Marketing Manager at eFolder, in this interview at Cloud Expo, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data...
Cloud computing is unquestionably one of the driving forces of DevOps, as the automation of operations transforms enterprise software development. DevOps, however, is more than a technology trend, as it represents a move toward silo-busting, self-organizing horizontal teams that drive business velocity. At the same time, enterprise Digital Transformation represents an upheaval across the enterprise, as customer preferences and behavior drive enterprise technology decisions. This transformation ...
Most of the IoT Gateway scenarios involve collecting data from machines/processing and pushing data upstream to cloud for further analytics. The gateway hardware varies from Raspberry Pi to Industrial PCs. The document states the process of allowing deploying polyglot data pipelining software with the clear notion of supporting immutability. In his session at @ThingsExpo, Shashank Jain, a development architect for SAP Labs, discussed the objective, which is to automate the IoT deployment proces...
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
In demand-intensive mobile and web applications, an emerging pattern is to host the Systems of Engagement in the cloud (for maximum responsiveness) but keep the Systems of Record with the other important business systems in the company datacenter, often on a tightly secured mainframe. But what about the space in between? In this IBM Redpaper publication, we show that the IBM Bluemix cloud platform offers technologies that make it easy for cloud-based SoEs to securely connect to on-premises IBM...
DevOps is about increasing efficiency, but nothing is more inefficient than building the same application twice. However, this is a routine occurrence with enterprise applications that need both a rich desktop web interface and strong mobile support. With recent technological advances from Isomorphic Software and others, rich desktop and tuned mobile experiences can now be created with a single codebase – without compromising functionality, performance or usability. In his session at DevOps Su...
As organizations realize the scope of the Internet of Things, gaining key insights from Big Data, through the use of advanced analytics, becomes crucial. However, IoT also creates the need for petabyte scale storage of data from millions of devices. A new type of Storage is required which seamlessly integrates robust data analytics with massive scale. These storage systems will act as “smart systems” provide in-place analytics that speed discovery and enable businesses to quickly derive meaningf...
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
In his General Session at 17th Cloud Expo, Bruce Swann, Senior Product Marketing Manager for Adobe Campaign, explored the key ingredients of cross-channel marketing in a digital world. Learn how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects).
OpsHub, Inc. has announced enhanced support for DevOps and Migration for both Team Foundation Server and Visual Studio On-line in a heterogeneous environment. With added support for build and release entities in OpsHub Integration Manager (OIM) Microsoft customers can now leverage Visual Studio build and release services to manage DevOps processes in a heterogeneous environment. With the enhanced support customers can manage the DevOps process in Team Foundation Server while undertaking activit...
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
SYS-CON Events announced today that Catchpoint, a global leader in monitoring, and testing the performance of online applications, has been named "Silver Sponsor" of DevOps Summit New York, which will take place on June 7-9, 2016 at the Javits Center in New York City. Catchpoint radically transforms the way businesses manage, monitor, and test the performance of online applications. Truly understand and improve user experience with clear visibility into complex, distributed online systems.Founde...
In recent years, at least 40% of companies using cloud applications have experienced data loss. One of the best prevention against cloud data loss is backing up your cloud data. In his General Session at 17th Cloud Expo, Sam McIntyre, Partner Enablement Specialist at eFolder, presented how organizations can use eFolder Cloudfinder to automate backups of cloud application data. He also demonstrated how easy it is to search and restore cloud application data using Cloudfinder.
With all the incredible momentum behind the Internet of Things (IoT) industry, it is easy to forget that not a single CEO wakes up and wonders if “my IoT is broken.” What they wonder is if they are making the right decisions to do all they can to increase revenue, decrease costs, and improve customer experience – effectively the same challenges they have always had in growing their business. The exciting thing about the IoT industry is now these decisions can be better, faster, and smarter. Now ...