Northland Resources SA (TSX:NAU, OSLO:NAUR, FRANKFURT:NPK) has released its unaudited annual report for 2012, which showed that for the 12 months that ended in December 31, 2012, it has garnered a net loss of USD 24.8 million, which is lower than the previous year’s net loss of USD 38.1 million.
As quoted in the press release:
The Company is now undergoing a challenging period, but I am convinced that we soon will be able to present a long term financial solution to ensure the Company a strong base for continued development of the Company and the Kaunisvaara project. It is important to remember that Northland has considerable assets consisting of ore reserves, a reliable infrastructure and a vital operation that is producing 3-4,000 tonnes of high grade concentrate per day. We also have a strong end-customer base to ship to, such as our first customer Tata Steel in the Netherlands.