Axactor SE

Earnings Release • Feb 27, 2014

NMG: Fourth Quarter 2013 Report

NMG: Fourth Quarter 2013 Report

Nickel Mountain Group AB has published Interim financial report for the

4th quarter and for the full 12-month period of 2013.The report is

attached, and also available at our web site www.nickelmountain.se

Highlights during the 4th quarter 2013

· In total some 12.9 million SEK ("MSEK") of short-term interest free

mainly promissory note loans were granted during the 4th quarter of

2013. All in all, during the second half of 2013 some MSEK17 of short

term loans were secured including nearly MSEK 4 of interest bearing

loans from main shareholder Altro Invest.

· An EGM held in November 2013 approved of the new company name Nickel

Mountain Group AB (publ).

· At the same EGM the shareholders gave authority to initiate a civil

court process to claim compensation from previous Board members in

respect of the damage in connection with the contested Ghana Gold

-transaction earlier in 2013.

· The November 2013 EGM in addition approved a decision in principle

to separate all the remaining Africa assets of the group and to offer

the shareholders pre-emptive rights to receive said assets.

· The same EGM also decided to reduce the share capital by MSEK 36.3

and to transfer the funds to a free reserve. This reduction will take

effect as from end of March 2014 after expiry of a notice period. A

mandate was also given to the Board of Directors to decide on new share

issues with a deviation from the shareholders' preferential rights.

· At end of 2013 the Board of Directors approved of the 2014 work

programme for the Company's key nickel project in Rönnbäcken in Northern

Sweden. The approved work program is part of the ongoing preparations to

submit a Pre-Feasibility Study (PFS) in respect of the nickel project as

well as to submit an application for an associated environmental permit

to the Swedish Authorities.

· At the end of December 2013, Nickel Mountain Group AB acquired a

Swedish partnership containing primarily a residual cash amount. As a

result, a revenue component of MSEK 9.7 arose on consolidation, which

also equals the cash flow effect on group level.

· For prudence reasons, the MSEK 50 claim on Alluvia Mining was

written down by MSEK 20.

· Net result after tax for the quarter October - December 2013

amounted to MSEK -20.1 (MSEK -101.1). It includes non-cash flow

effecting impairment and depreciation of fixed assets of MSEK 21.2 (MSEK

124.4). This corresponds to earnings per share (EPS) of SEK -1.11 (SEK

-5.56).

· The total comprehensive loss for the last quarter of 2013 was MSEK

-20.8 (MSEK -101.8).

(Complete report enclosed for the fourth quarter)