Eurobattery Minerals discontinues Corcel Minerals project and sharpens strategic focus on core assets

The Board of Directors has conducted a comprehensive review of the Company’s project portfolio and concluded that Eurobattery Minerals’ human, technical, and financial resources must be concentrated on the two assets with the greatest value-creation potential for shareholders: the San Juan tungsten project, located in A Gudiña, Galicia (Spain), and the Hautalampi battery mineral project which lies in Outokumpu, North Karelia (Finland).

In this context, the Company has decided not to proceed with the development of the Corcel Minerals project (located in northwestern Spain). Following a thorough assessment, the Board considers that current market conditions and the Company’s strategic priorities do not justify the allocation of further resources to this project at this time. As part of the strategic portfolio review, the Company will update the valuation of its assets in the relevant financial statements accordingly.

The financial impact of this decision on the Company’s balance sheet is expected to be limited. Any accounting adjustments will be reflected in the Company’s financial statements in accordance with applicable accounting standards.

“This decision reflects a disciplined approach to capital and resource allocation. By concentrating our efforts on our two core assets, we are positioning Eurobattery Minerals to deliver maximum value for our shareholders,” says Roberto García Martínez, CEO of Eurobattery Minerals AB

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