Nordic Iron Ore AB OMXSTO:NIO:
SAID ON THURSDAY ONGOING PRELIMINARY FEASIBILITY STUDY HAS SHOWN BOTH SIGNIFICANT IMPROVEMENTS TO THE PROJECT AND SOME REMAINING CHALLENGES
THE IMPROVEMENTS RELATE TO THE MINERAL RESOURCES AND THE POSSIBLE CONCENTRATE PRODUCTION
THE CHALLENGES RELATE TO THE ANNUAL ORE EXTRACTION RATE AND MINING COSTS DUE TO THE GEOMETRY AND DEPTH OF THE MINERALIZATION
AS THE FINANCIAL RESULTS OF THE ONGOING PRELIMINARY FEASIBILITY STUDY ARE NOT YET CONSIDERED SUFFICIENT, THE COMPANY HAS DECIDED TO EXTEND AND EXPAND THE PRELIMINARY FEASIBILITY STUDY, WHICH IS EXPECTED TO BE COMPLETED IN Q3
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