Aktuellt
SENASTE
The ongoing preparations for the DFS of Dannemora has now yielded its second upwards revision, a 16% increase in mineral reserves to 30.8 Mt with 32.2% Iron, and over a year’s extension of the life of mine. The >4Mt reserves increase is based on recovering the 21% iron which is in the tailings deposited underground during the last production period, 2012-2015. After a revision of our estimates for production profile, FX, life of mine and an increase in power expenses we find only a slight net effect on our fair value, now at SEK 96-165 (98-168) per share in 12-24 months. This leaves room for a considerable revaluation where we see accelerating structural demand for green CO2-free steel, a prolonged supply crisis following Russia’s cut off from Europe and progress with GRANGEX’s DFSs and environmental permits for the two projects as the main catalysts.
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