Dannemora introduces measures amid financing difficulties

Sweden-based mining and exploration company Dannemora Mineral has announced that its normal activities of drilling and construction of tunnels for future mining has ceased as of Monday, September 15 amid measures related to financing difficulties.
 
As previously announced, Dannemora is in need of a bridge financing during the latter part of the extended period of company reorganization, from August 13 to November 13, to meet liquidity needs throughout this period. According to Dannemora, as these are forward-oriented measures, the company's ability to produce and deliver iron ore during the reorganization period is not affected. Delivery capability to customers is therefore unchanged.