Click here to close now.

Welcome!

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."


----------------------------------------------------------------------------
Selected                                                                    
 Quarterly                                                                  
 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)
----------------------------------------------------------------------------
Mineral                                                                     
 properties                                                                 
 expenditures,                                                              
 Sweden              0.9         0.7          1.9          2.2          2.7 
----------------------------------------------------------------------------
Mineral                                                                     
 properties                                                                 
 expenditures,                                                              
 Finland             3.2         5.8          9.8         14.9         20.1 
----------------------------------------------------------------------------
Mines under                                                                 
 construction                                                               
 expenditures,                                                              
 Sweden                                                                  
 and Norway        150.3        57.5        402.2         95.5        180.2 
----------------------------------------------------------------------------
Cash, end of                                                                
 period                                                                     
 balance           166.1       119.9        166.1        119.9         38.3 
----------------------------------------------------------------------------
Number of                                                                   
 Common                                                                     
 shares      514,178,899 225,483,899  514,178,899  225,548,899  226,628,899 
----------------------------------------------------------------------------

Outlook

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, http://www.northland.eu/en-us/investor-relations/financials today, November 14, 2012 and they will be available on www.sedar.com. 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.

FORWARD-LOOKING INFORMATION

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.

Contacts:
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
www.northland.eu

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
The enterprise market will drive IoT device adoption over the next five years. In his session at @ThingsExpo, John Greenough, an analyst at BI Intelligence, division of Business Insider, analyzed how companies will adopt IoT products and the associated cost of adopting those products. John Greenough is the lead analyst covering the Internet of Things for BI Intelligence- Business Insider’s paid research service. Numerous IoT companies have cited his analysis of the IoT. Prior to joining BI In...
DevOps Summit, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development...
Live Webinar with 451 Research Analyst Peter Christy. Join us on Wednesday July 22, 2015, at 10 am PT / 1 pm ET In a world where users are on the Internet and the applications are in the cloud, how do you maintain your historic SLA with your users? Peter Christy, Research Director, Networks at 451 Research, will discuss this new network paradigm, one in which there is no LAN and no WAN, and discuss what users and network administrators gain and give up when migrating to the agile world of clo...
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, it is now feasible to create a rich desktop and tuned mobile experience with a single codebase, without compromising performance or usability.
Containers are revolutionizing the way we deploy and maintain our infrastructures, but monitoring and troubleshooting in a containerized environment can still be painful and impractical. Understanding even basic resource usage is difficult – let alone tracking network connections or malicious activity. In his session at DevOps Summit, Gianluca Borello, Sr. Software Engineer at Sysdig, will cover the current state of the art for container monitoring and visibility, including pros / cons and liv...
SYS-CON Media announced today that CloudBees, the Jenkins Enterprise company, has launched ad campaigns on SYS-CON's DevOps Journal. CloudBees' campaigns focus on the business value of Continuous Delivery and how it has been recognized as a game changer for IT and is now a top priority for organizations, and the best ways to optimize Jenkins to ensure your continuous integration environment is optimally configured.
The 4th International Internet of @ThingsExpo, co-located with the 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - announces that its Call for Papers is open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than
SYS-CON Events announced today that ProfitBricks, the provider of painless cloud infrastructure, will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. ProfitBricks is the IaaS provider that offers a painless cloud experience for all IT users, with no learning curve. ProfitBricks boasts flexible cloud servers and networking, an integrated Data Center Designer tool for visual control over the...
"In the IoT space we are helping customers, mostly enterprises and industry verticals where time-to-value is critical, and we help them with the ability to do faster insights and actions using our platform so they can transform their business operations," explained Venkat Eswara, VP of Marketing at Vitria, in this SYS-CON.tv interview at @ThingsExpo, held June 9-11, 2015, at the Javits Center in New York City.
The most often asked question post-DevOps introduction is: “How do I get started?” There’s plenty of information on why DevOps is valid and important, but many managers still struggle with simple basics for how to initiate a DevOps program in their business. They struggle with issues related to current organizational inertia, the lack of experience on Continuous Integration/Delivery, understanding where DevOps will affect revenue and budget, etc. In their session at DevOps Summit, JP Morgenthal...
"We provide a web application framework for building really sophisticated web applications that run on a browser without any installation need so we get used for biotech, defense, and banking applications," noted Charles Kendrick, CTO and Chief Architect at Isomorphic Software, in this SYS-CON.tv interview at @DevOpsSummit (http://DevOpsSummit.SYS-CON.com), held June 9-11, 2015, at the Javits Center in New York
In his session at 16th Cloud Expo, Simone Brunozzi, VP and Chief Technologist of Cloud Services at VMware, reviewed the changes that the cloud computing industry has gone through over the last five years and shared insights into what the next five will bring. He also chronicled the challenges enterprise companies are facing as they move to the public cloud. He delved into the "Hybrid Cloud" space and explained why every CIO should consider ‘hybrid cloud' as part of their future strategy to achie...
"Plutora provides release and testing environment capabilities to the enterprise," explained Dalibor Siroky, Director and Co-founder of Plutora, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
DevOps tends to focus on the relationship between Dev and Ops, putting an emphasis on the ops and application infrastructure. But that’s changing with microservices architectures. In her session at DevOps Summit, Lori MacVittie, Evangelist for F5 Networks, will focus on how microservices are changing the underlying architectures needed to scale, secure and deliver applications based on highly distributed (micro) services and why that means an expansion into “the network” for DevOps.
"The idea of polyglot persistence is you have to apply the right database for the job - you always have to have many different databases in play. We offer that whole system as a service," explained Raj Singh, Developer Advocate for IBM Cloud Data Services, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.