Nordic Mining

Nordic Mining reported Q2 2026 production of 1,262 tonnes of rutile and 10,127 tonnes of garnet, but recorded no sales revenues due to a quality dispute with customer Barton, which rejected a shipment. The company reported an operating loss of NOK 154m and a net loss of NOK 223m, while cash fell from NOK 360m at the end of March to NOK 150m on June 30. Nordic Mining says it immediately needs USD 10–15m by September 2026 and expects total financing needs through 2027 of about NOK 475m. Additional regulatory uncertainty stems from an appeals court ruling that declared disposal permits for the Førdefjord invalid, weighing on the company’s short-term viability. » Más en de.investing.com

Nordic Mining recorded no revenue in the second quarter of 2026 because the Engebø mine has not yet ramped up to commercial production. Mill throughput was 77% of capacity, but garnet and rutile production were only 20% and 14% respectively, and cash flow was strongly negative at -210 million NOK. Liquidity at the end of the quarter stood at 150 million NOK, sufficient only until early September, and management is seeking an additional 10–15 million USD; a comprehensive balance-sheet restructuring and further financings are considered necessary. » Más en de.investing.com

Nordic Mining reports operational progress in Q1 2026 with higher availability and increased throughput at Engebø, resulting in higher rutile and garnet production. Despite the ramp-up, the company generated only NOK 4.3 million in revenue and recorded an operating loss of NOK 156 million, while operating costs rose sharply. The liquidity position is NOK 360 million after a private placement, but management sees uncertainty about the runway and plans cost optimisation, a follow-on offering and other financing options; the Nordic Quartz project with semiconductor-quality quartz is also being advanced. » Más en de.investing.com