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Northland resource resumed trading

Thursday, 22 August 2013
The ailing Northland resources whose trading was halted in Oslo on Thursday morning, is said to have resumed trading, after share were halted from trading for three hours.

This spring the mining company was close to bankruptcy, and two weeks ago it reported a loss of Skr400 million for the second quarter. Acting CEO Peter Pernlöf after the report nevertheless remained optimistic and believed that they had made it through the most critical period.

Just before lunch, the Oslo stock market announced that trade would resume at 12 o'clock. The stock exchange also noted that the conversion of bonds into shares for the company had not been finally completed. The Exchange also pointed out that it is not allowed to trade with the converted shares before the entire process is completed.

After trading resumed at 12 noon, shares picked up the share price by 12:30am had decline by 5.97 percent.

Scancomark.com Team

Trade in Northland Resources shares halted on the Oslo stock exchange

Thursday, 22 August 2013
Trade in the shares of the mining company, Northland Resources on the Oslo Stock Exchange was halted this morning.
According to reports the mining company' shares has been halted on the Oslo Stock Exchange as suspicion that Northland Resources could be playing the market because rife given suspicious  movements in its share.

Image/ Northland Resources
The company has to establish whether there has been illegal short selling. The company's shares had fallen by more than 22 per cent to Nkr26 per share when trading was suspended.

Shares in the mining company, which in the spring was about to go bankrupt, fell before the trading halt to its lowest level ever.

The company announced August 14, 2013 that it would usher in a share reverse split, which meant that one hundred shares were sucked into one.  Northland Resource's market capitalization has fallen by 96 percent since January. The company, which deplete iron ore outside Pajala in Norrbotten, in the summer came up with new owners, a new board and new management.
Scancomark.com Team

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