Brief: Nordic Mining Q1 Operating Loss Widens To NOK 17.0 Million

Nordic Mining ASA

05/05/2020 07:11

May 5 (Reuters) - Nordic Mining ASA  NOMIN.OL :
    * Q1 OPERATING  LOSS NOK 17.0 MILLION VERSUS LOSS NOK 15.2
MILLION
YEAR AGO
    * COMPANY WILL ADJUST PROGRESS PLANS AND REVIEW ENGEBØ
PROJECT
FURTHER
    * COMPANY ASSUMES THAT ECONOMIC RECOVERY FROM PANDEMIC
CRISIS WILL
BE SLOW AND THAT ECONOMIC AFTERMATH MAY BE MORE SUBSTANTIAL THAN
PREVIOUSLY EXPERIENCED
    * REGARDLESS OF CORONAVIRUS PANDEMIC, GLOBAL LITHIUM MARKET
HAS
SOFTENED DUE TO WEAK SPOT PRICES
    * IS DIFFICULT TO FORESEE HOW LITHIUM MARKET WILL DEVELOP IN
NEXT
COUPLE OF YEARS
    * COMPANY'S ADJUSTMENTS IMPLY THAT FEED AND PROJECT
FINANCING
ACTIVITIES WILL BE DELAYED AND NOT IMPLEMENTED AS INITIALLY
PLANNED

Source text for Eikon:  ID:nObi0w08Ya 
Further company coverage:  NOMIN.OL 

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