Yes great results and the Company had a working capital surplus of $17mil at 31Dec.
Finland produced 30,000 ozs in 2016 and this could increase to 40,000 ozs this year with the start up of their third operating mine. Drilling results are also due from that project.Finland produced a pre-tax profit of $8.1mil in 2016 and so should do better this year and there is still $20mil in tax losses to be utilised in Finland. Sweden has $10mil in tax losses to be utilised.
The County Administration Board(CAB) have told them that a decision will be made by the end of this month as regards the Trial Mining permit for the Faboliden project.
In a note to the accounts it was stated that the CAB had granted them a permit in June, 2016 to fill the Svartliden open pit with tailings from the Faboliden project - that's a double win as it decreases the cost of eventual rehabilitation at Svartliden and allows disposal of the Faboliden tailings without the need to build a separate storage pond.
The yearly Mineral Resources and Reserves statement should be released early next week.
Altus Capital Ltd has been appointed as Sponsor for the HK listing - I would expect a detailed announcement on the HK listing in the second half of March.
DRA Price at posting:
34.0¢ Sentiment: Buy Disclosure: Held
