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Stockholm, 19 August 2022 – The mining company Eurobattery Minerals AB (Nordic Growth Market: “BAT” and Börse Stuttgart: “EBM”; in short: “EBM”, “Eurobattery” or “the Company”), published its Half-Year Report for 2022 today.
“In the first half of the year, we have made great progress in our operational strategy for battery mineral mining in both Finland and Spain. The completion of the 40% stake acquisition of the Finnish Hautalampi project is an important step towards acquiring 100% from the current owner FinnCobalt Oy. In Spain, we have now received the independent NI 43-101 report. It gives a good overview of the mineral opportunities at Corcel, including the potential to extract several million car batteries with a capacity of 60 kWh,” said Roberto García Martínez, CEO of Eurobattery Minerals.
Strategic and operational highlights in the first half of 2022
- Eurobattery Minerals achieved exceptional exploration results for nickel, copper, and cobalt in the Spanish Corcel project: the deposit in Castriz comprises an estimated 60 million tonnes of mineralised rock with a nickel content of 0.25%. Accreditation of the resource by the responsible ALS Global laboratory will take place still in Q2 2022.
- Expansion of operations in Finland: FinnCobalt Oy received an exploration permit for the promising Varislahti project located approximately 10 kilometers from Hautalampi project. The prospect area contains cobalt, copper, and nickel, among other minerals, and is ideally connected to FinnCobalt’s infrastructure and current operating base.
- Initial assay results and sightings from phase 2 drilling campaign at Hautalampi provide concrete evidence that the two mineral resources Hautalampi and Mökkivaara are interconnected. A connection between the two deposits would make future mining operations at Hautalampi more efficient and economical.
- At the beginning of April, Eurobattery Minerals successfully carried out a directed issue of convertibles of SEK 18 million (EUR 1.7 million) to Formue Nord Fokus A/S. The objective of the directed issue is to finance the acquisition of additional shares in FinnCobalt in line with existing agreements, to finance additional value-creating investments, and to create flexibility in acquiring other projects or parts thereof.
- In May, the Company completed another step towards realising the Finnish Hautalampi battery mineral project as the environmental impact assessment (EIA) report was submitted. As soon as the environmental compatibility of the Hautalampi project is officially confirmed, one of the conditions for Eurobattery Minerals to start mining at Hautalampi will be fulfilled.
- On 31 May, Eurobattery Minerals took another critical step in realising a battery mineral mine in Finland as the Company purchased 40% of the Finnish Hautalampi battery mineral mine project from its current owner FinnCobalt. This was the first time that the Company had exercised its option to acquire 100% of the shares in FinnCobalt in a staged process. As announced about two years ago, Eurobattery Minerals plans to acquire 100% of the shares in FinnCobalt by 2024 at the latest.
- In June, Eurobattery Minerals received the independent NI 43-101 report for the Castriz deposit, which is one part of the Spanish Corcel project. The report covered 10% of the deposit and concluded that this part alone contains the amount of nickel needed for 500,000 car batteries. Considering that the Castriz deposit has a nickel grade of 0.23%, Eurobattery Minerals will be able to produce minerals for a few million car batteries with a capacity of 60 kWh in the future.
- In June, the Company was also appointed as the new Vice-President of the Swedish-Spanish Chamber of Commerce. The two-year Vice-Presidency is shared with the renowned Swedish car manufacturer Volvo Cars. Within its office, the Company will benefit from networking with professionals and representatives in economy and politics, among others. In addition, the Company will actively promote the green transition, which will see its battery mineral projects, also needed for zero-emission mobility, receive additional EU funding.
Key financial figures for Q2 2022
- Net sales amounted to SEK 0 (Q2 2021: SEK 0).
- Operating income after depreciation/amortisation and financial items totalled SEK -10,046 thousand (Q2 2021: SEK -4,121 thousand).
- Earnings per share after financial items before dilution amounted to SEK -0.64 (Q2 2021: SEK -0.26).
- Earnings per share after financial items after dilution amounted to SEK -0.59 (Q2 2021: SEK -0.26).
- Cash flow from operating activities was SEK -12,325 thousand (Q2 2021: SEK -3,150 thousand).
Key financial figures for the first half of 2022
- Net sales amounted to SEK 0 (6M 2021: SEK 0).
- Operating income after depreciation/amortisation and financial items totalled SEK -12,403 thousand (6M 2021: SEK -6,842 thousand).
- Earnings per share after financial items before dilution amounted to SEK -0.79 (6M 2021: SEK -0.44).
- Earnings per share after financial items after dilution amounted to SEK -0.73 (6M 2021: SEK -0.44).
- Cash flow from operating activities was SEK -11,786 thousand (6M 2021: SEK -5,198 thousand).
Significant events after the reporting period
- On 1 July 2022, the Company announced the closing of the acquisition of the 40% stake in FinnCobalt Oy, the current owner of the ground and all mining rights of the Finnish Hautalampi nickel-cobalt-copper project. In conjunction with the transaction, the Board of Directors of Eurobattery Minerals completed a directed issue of 802,734 shares with a total value of EUR 1,000,002. In addition, EUR 250,000 in cash was paid to the three current owners of FinnCobalt.
Detailed financial information
The Half-Year Report 2022 of Eurobattery Minerals AB is available for download at the Company’s website and can be viewed in the attachment of the release (see below).
This information is of the kind that the Company is required to disclose in accordance with the EU’s Market Abuse Regulation. The information was issued for publication through the agency of Roberto García Martínez, CEO of Eurobattery Minerals AB, on 19 August 2022 at 07:30 CEST.
About Eurobattery Minerals
Eurobattery Minerals AB is a Swedish mining company listed on Swedish Nordic Growth Market (BAT) and German Börse Stuttgart (EBM). With the vision to make Europe self-sufficient in responsibly mined battery minerals, the company’s focus is to realize numerous nickel-cobalt-copper projects in Europe to supply critical raw materials and, as such, power a cleaner world.
Please visit www.eurobatteryminerals.com for more information. Feel free to follow us on LinkedIn and Twitter as well.
Contact Eurobattery Minerals AB
Roberto García Martínez – CEO
E-mail: info@eurobatteryminerals.com
Contact Investor Relations
Linda Lenz
Phone: +49 (0) 172 834 18 92
E-mail: ir@eurobatteryminerals.com
Mentor
Augment Partners AB is the mentor to Eurobattery Minerals AB: Phone: +46 (0) 86 042 255, e-mail: info@augment.se
Stockholm, 1 July 2022 – The mining company Eurobattery Minerals AB (Nordic Growth Market: BAT and Börse Stuttgart: EBM; in short: “EBM”, “Eurobattery” or “the company”), today announced the closing of the acquisition of a 40% stake in FinnCobalt Oy, the current owner of the ground and all mining rights of the Finnish Hautalampi nickel-cobalt-copper project. In consideration of the transaction, the Board of Directors of Eurobattery Minerals today completed a directed issue of 802,734 shares with a total value of EUR 1,000,002. Further to this, EUR 250,000 in cash was paid to the three current owners of FinnCobalt. Eurobattery Minerals has the option to acquire 100% of the shares in FinnCobalt by 2024 at the latest.
“Today’s closing marks an important milestone in the 100% takeover intention of the promising Hautalampi battery minerals project announced in 2020. Alongside the financial aspects of the project, we are constantly making important progress towards establishing a battery mineral mine in Finland to provide Europe with responsibly mined battery minerals from Europe,” said Roberto García Martínez, CEO of Eurobattery Minerals AB.
Transaction details
To finalize the transaction of the 40% stake in FinnCobalt Oy, the Board of Directors of Eurobattery Minerals today fulfilled the acquisition contract by paying a total of EUR 250,000 in cash to the three founders of FinnCobalt. Furthermore, the company completed a directed issue of 802,734 shares with a total value of EUR 1,000,002 to the three founders of FinnCobalt, issuing EUR 333,334 each. The terms of the deal finalized today are in line with the financial details of the acquisition agreed on in May 2020. Following the directed issue, Eurobattery Minerals’ total number of shares will increase from 15,719,503 to 16,522,237 and the share capital will increase from SEK 15,719,503 (EUR 1,465,004) to SEK 16,522,237 (EUR 1,539,817).
About the Hautalampi mine development project
Hautalampi is located at the same site as the well-known Outokumpu copper mine where approximately 28.5 million tons of rock with a copper content of 3.8% were mined from 1912–1989. The nickel-cobalt-copper orebody in Hautalampi is located parallel and above the exploited copper deposit. Existing surface and underground infrastructure, including a high voltage power line, concrete foundations, and roads, provide significant location advantages to the project. Approximately EUR 10 million – 15 million has been invested in Hautalampi by previous owners, including 26,000 meters of core drilling, a decline and additional underground mine development works (2,100 meters), mineral resource and reserve estimates, multiple mineral processing studies and a feasibility study.
Hietajärvi and Varislahti add additional potential to Hautalampi battery mineral project
The Hautalampi mine project is located in the historical mining area of Outokumpu, eastern Finland. Through the acquisition, Eurobattery Minerals has also obtained two additional reservation notifications for highly prospective grounds in Hietajärvi and Varislahti. Both prospective areas are located in close proximity to the mining centre in Hautalampi, and both have been found to contain similar rock formations as in Hautalampi, containing nickel, copper and cobalt.
The conversion from SEK to EUR was done on 30 June 2022: SEK 1 = EUR 0.09320, EUR 1 = SEK 10.73.
About Eurobattery Minerals
Eurobattery Minerals AB is a Swedish mining company listed on Swedish Nordic Growth Market (BAT) and German Börse Stuttgart (EBM). With the vision to make Europe self-sufficient in responsibly mined battery minerals, the company’s focus is to realize numerous nickel-cobalt-copper projects in Europe to supply critical raw materials and, as such, power a cleaner world.
Please visit www.eurobatteryminerals.com for more information. Feel free to follow us on LinkedIn and Twitter as well.
Contact Eurobattery Minerals AB
Roberto García Martínez – CEO
E-mail: info@eurobatteryminerals.com
Contact Investor Relations
Linda Lenz
Phone: +49 (0) 172 834 18 92
E-mail: ir@eurobatteryminerals.com
Mentor
Augment Partners AB is the mentor to Eurobattery Minerals AB: Phone: +46 (0) 86 042 255, e-mail: info@augment.se
Stockholm, 22 June 2022 – The Swedish mining company Eurobattery Minerals AB (Nordic Growth Market: BAT and Börse Stuttgart: EBM; in short: “EBM”, “Eurobattery” or “the Company”) held its Annual General Meeting (AGM) today. The following main resolutions were passed by the AGM:
Balance sheet and income statement
The AGM adopted the balance sheet and the income statement as well as the consolidated balance sheet and consolidated income statement for 2021.
Proposed appropriation of the company’s profit
The AGM resolved in accordance with the Board’s proposal that no dividend will be paid for the 2021 financial year and that profit for the year will be carried forward.
Discharge from liability
The AGM resolved to discharge the Board members and CEO from liability for their administration of the company for the 2021 financial year.
Election of Board members, Chairman and auditors
The AGM resolved to re-elect Board members Henrik Johannesson, Jan Olof Arnbom and Roberto García Martínez for the period until the end of the next AGM. The AGM resolved to re-elect Henrik Johannesson as Chairman of the Board.
The AGM re-elected Stein Karlsen as auditor for the period until the end of the next AGM.
Fees to the Board and auditors
The AGM resolved that fees of SEK 80,000 will be paid to the Board members except for the Chairman, and that SEK 250,000 will be paid to the Chairman.
It was resolved that fees to the auditor will be paid according to approved invoices.
Authorisation for issues by the Board
The AGM resolved to authorise the Board, on one or more occasions before the next AGM, applying or disapplying the preferential rights of shareholders, to resolve on new issues of shares, convertibles or warrants. Such new issues may take place in exchange for a cash payment, and with or without a provision on an issue in kind, offset or other conditions. Issues resolved on the basis of this authorisation are, as a maximum, to entail an increase in the number of shares of not more than 20% of the outstanding number of shares on the decision date increased by the number of shares that could be added by virtue of the convertibles and warrants outstanding on the decision date, but always within the limits for the share capital and number of shares applicable on the decision date. Market-based conditions are to apply to issues resolved on the basis of this authorisation.
Other
For more detailed information about the resolutions passed, refer to the complete proposals available on the company’s website.
About Eurobattery Minerals
Eurobattery Minerals AB is a Swedish mining company listed on Swedish Nordic Growth Market (BAT) and German Börse Stuttgart (EBM). With the vision to make Europe self-sufficient in responsibly mined battery minerals, the company’s focus is to realize numerous nickel-cobalt-copper projects in Europe to supply critical raw materials and, as such, power a cleaner world.
Please visit www.eurobatteryminerals.com for more information. Feel free to follow us on LinkedIn and Twitter as well.
Contact Eurobattery Minerals AB
Roberto García Martínez – CEO
E-mail: info@eurobatteryminerals.com
Contact Investor Relations
Linda Lenz
Phone: +49 (0) 172 834 18 92
E-mail: ir@eurobatteryminerals.com
Mentor
Augment Partners AB is the mentor to Eurobattery Minerals AB: Phone: +46 (0) 86 042 255, e-mail: info@augment.se
Stockholm, 17 June 2022 – The Swedish mining company Eurobattery Minerals AB (Nordic Growth Market: BAT and Börse Stuttgart: EBM; in short: “EBM”, “Eurobattery” or “the Company”), was appointed as the new Vice-President of the Swedish-Spanish Chamber of Commerce (Cámara de Comercio Hispano Sueca) at its Annual General Meeting in Madrid yesterday. The two-year presidency is shared with the renowned Swedish car manufacturer Volvo Cars, which acts as the new President. As part of its vice-presidency, EBM benefits from networking with professionals and representatives of the economy and politics among others. In addition, the company actively promotes the green transition when its battery mineral projects, needed also for zero-emission mobility, receive additional EU funding.
“We want to thank the Swedish-Spanish Chamber of Commerce for their trust and for appointing us as their Vice-President. We look forward to working hand in hand with other Swedish and internationally successful technology companies such as Volvo, Ericsson and Fagerhult to help shape the Spanish-Swedish economic environment,” says Roberto García Martínez, CEO of Eurobattery Minerals AB. “For both the Chamber and us, sustainability is a key value and driver in our daily work. Our vision is to make Europe self-sufficient in responsibly mined battery minerals. Such battery minerals are used, for example, in electric cars, which make a substantial contribution to the decarbonisation of our world. The European Union is supporting us and other small and medium-sized Spanish companies with a total of EUR 70 billion to help us drive the ecological transition. We are already using all the capacity at our disposal to start mining battery minerals as soon as possible. Just recently, we were able to define that we can mine minerals for a few million car batteries within our Corcel project.”
The Swedish-Spanish Chamber of Commerce aims to promote economic and cultural relations between Spain and Sweden. It is made up of more than 220 members and links Swedish and Spanish economies, politics, and institutions as well as private partners and young professionals.
About Eurobattery Minerals
Eurobattery Minerals AB is a Swedish mining company listed on Swedish Nordic Growth Market (BAT) and German Börse Stuttgart (EBM). With the vision to make Europe self-sufficient in responsibly mined battery minerals, the company’s focus is to realize numerous nickel-cobalt-copper projects in Europe to supply critical raw materials and, as such, power a cleaner world.
Please visit www.eurobatteryminerals.com for more information. Feel free to follow us on LinkedIn and Twitter as well.
Contact Eurobattery Minerals AB
Roberto García Martínez – CEO
E-mail: info@eurobatteryminerals.com
Contact Investor Relations
Linda Lenz
Phone: +49 (0) 172 834 18 92
E-mail: ir@eurobatteryminerals.com
Mentor
Augment Partners AB is the mentor to Eurobattery Minerals AB: Phone: +46 (0) 86 042 255, e-mail: info@augment.se
Stockholm, 15 June 2022 – The mining company Eurobattery Minerals AB (Nordic Growth Market: BAT and Börse Stuttgart: EBM; in short: “EBM”, “Eurobattery” or “the Company”) just received its independent NI 43-101 technical report for the Spanish Ni-Co-Cu project Corcel. Considering a Nickel grade of 0.23% of the Castriz deposit only, Eurobattery Minerals can produce minerals for a few million car batteries with a capacity of 60 kWh in the future.
Key information and findings
- The independent technical report has been set up in accordance with CIM (Canadian Institute of Mining, Metallurgy and Petroleum) guidelines and the regulatory requirements set out in National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”)
- The report indicates that the Corcel project contains a large Ni Deposit. Only with the mineral evaluation of Castriz zone indicated in the technical report (i.e. about 5.6 million tons of rock with a 0.23% Ni grade), EBM would be able to manufacture 500,000 car batteries with a capacity of 60 kWh. Everything indicates that EBM is dealing with a large Ni deposit, which could easily reach 60 million tons with 0.25 % Ni
- With the underlying mineral evaluation carried out in 2021, the report is covering results from the Castriz prospect zone, on the so-called “West Anomaly” area, defined in 2019, which is one of three primary prospect zones in the Corcel project that also includes Monte Mayor and Monte Castello
Outlook
“We are very happy that we were finally able to finalize and publish the report. With the report in hand we can now concretely predict that with only one tenth of the entire volume of the Corcel deposit we will be able to mine nickel for about half a million car batteries,” said Roberto García Martínez, CEO of Eurobattery Minerals AB.
About the technical report
The report has been prepared in accordance with the disclosure and reporting requirements set forth in the Canadian Securities Administrators’ National Instrument 43-101 (“NI 43-101”), Companion Policy 43-101CP, and Form 43-101F1, as well as with the CIM Definition Standards for Mineral Resources and Mineral Reserves adopted by the CIM Council in May 2014, and the CIM Estimation of Mineral Resources & Mineral Reserves Best Practice Guidelines prepared by the CIM MRMR Committee in November 2019.
Firstly, a compilation of all historical data and data from the 2019 and 2021 campaigns was carried out and a visit was made to the work area to verify the work procedures. According to the Technical Report, the work procedures comply with the established standards and requirements and the high competence of the technical staff of Corcel Minerals stands out.
With the data collected, a mineral resource model of the Castriz area has been developed by means of a three-dimensional Block Model using Datamine Studio RM software, with a block size of 125 cubic metres.
Once the mineralised zone was modelled, a mineral evaluations was made for different Ni grades.
According to the tonnage-grade table for different Ni grades included in the technical report and the graph represented in figure 2 (see appendix), it can be said that only with the drilling campaign carried out during the year 2021 (which is the area evaluated in the technical report), in the Corcel project, have been evaluated: 5,595,580 tons with 0.23% Ni grade (Ni grade 0.16%).
As indicated in the technical report, the current target area is small but open with good potential to define additional Ni resources. Several of the nickel geochemical anomalies have not been tested and additional mineral resources may be added in these areas.
The report can be downloaded at the following link.
All the tables and figures can be viewed in the appendix of the release (see below).
Qualified persons
The technical report was prepared by Alan C. Noble, P.E. of Ore Reserves Engineering, Lakewood, CO, USA, and by Monica Barrero Bouza, EurGeol. Mr. Noble is a qualified person for resource estimation based on having received a B.S. Degree in Mining Engineering from the Colorado School of Mines, registration as a Professional Engineer in the State of Colorado, USA, and over 50 years of experience with resource estimation on over 156 mineral deposits throughout the world. Mr. Noble is independent of Corcel Minerals, using all the tests of NI 43-101. Ms. Barrero Bouza is a qualified person based on having received a BS Degree in Geology from the University of Oviedo (Spain), registered member of the Official Association of Professional Geologist of Spain (ICOG), registered Eurogeologist, and 25 years of diverse experience in the geology of precious and base metal projects. Ms. Barrero Bouza is independent of Corcel Minerals, using all the tests of NI 43-101.
The works carried out during the year 2021 in the Corcel Project were directed and supervised by Mr. Felipe Antonio Casillas Castañón, Geologist member No. 7572 of the Official Association of Geologists of Spain and European Geologist, No. 1816 with more than 40 years of experience in the investigation of metallic deposits. Felipe also holds degrees in Mining Engineering and Geological Engineering. His extensive experience includes the discovery of two wolfram deposits, a Pb-Zn deposit and an Antimony deposit, all of them in the northwest of Spain. Felipe has already led the geochemical and geophysical prospecting campaigns of the Corcel project in 2019.
This information is of the kind that the Company is required to disclose in accordance with the EU’s Market Abuse Regulation. The information was issued for publication through the agency of Roberto García Martínez, CEO of Eurobattery Minerals AB, on 15 June 2022 at 07:30 CEST.
About Eurobattery Minerals
Eurobattery Minerals AB is a Swedish mining company listed on Swedish Nordic Growth Market (BAT) and German Börse Stuttgart (EBM). With the vision to make Europe self-sufficient in responsibly mined battery minerals, the company’s focus is to realize numerous nickel-cobalt-copper projects in Europe to supply critical raw materials and, as such, power a cleaner world.
Please visit www.eurobatteryminerals.com for more information. Feel free to follow us on LinkedIn and Twitter as well.
Contact Eurobattery Minerals AB
Roberto García Martínez – CEO
E-mail: info@eurobatteryminerals.com
Contact Investor Relations
Linda Lenz
Phone: +49 (0) 172 834 18 92
E-mail: ir@eurobatteryminerals.com
Mentor
Augment Partners AB is the mentor to Eurobattery Minerals AB: Phone: +46 (0) 86 042 255, e-mail: info@augment.se.
Stockholm, 2nd of June 2022 – The mining company Eurobattery Minerals AB (Nordic Growth Market: “BAT” and Börse Stuttgart: “EBM”; in short: “EBM”, “Eurobattery” or “the Company”), today published its 2021 Annual Report.
Strategic and operational highlights 2021
- Listing: EBM successfully expanded its listing on Swedish Nordic Growth Market to German Börse Stuttgart.
- Rich mineral resources: Finnish nickel-copper-cobalt project “Hautalampi” exceeded estimations as it contains metals totalling approximately 50% in the mine lease area.
- On time and budget: Completion of drilling campaigns in the two nickel-copper-cobalt projects “Hautalampi”, eastern Finland, and “Corcel”, north-western Spain.
“In the past year, we have made significant progress in delivering on our strategy of providing responsibly mined battery minerals – from Europe, for Europe. We are using 2022 to build the stable foundation we need to realize this strategy,” said Roberto García Martínez, CEO of Eurobattery Minerals.
Detailed financial information
The 2021 Annual Report of Eurobattery Minerals AB is available for download at the company’s website and can be viewed in the attachment of the release (see below).
About Eurobattery Minerals
Eurobattery Minerals AB is a Swedish mining company listed on Swedish Nordic Growth Market (BAT) and German Börse Stuttgart (EBM). With the vision to make Europe self-sufficient in responsibly mined battery minerals, the company’s focus is to realize numerous nickel-cobalt-copper projects in Europe to supply critical raw materials and, as such, power a cleaner world.
Please visit www.eurobatteryminerals.com for more information. Feel free to follow us on LinkedIn and Twitter as well.
Contact Eurobattery Minerals AB
Roberto García Martínez – CEO
E-mail: info@eurobatteryminerals.com
Contact Investor Relations
Linda Lenz
Phone: +49 (0) 172 834 18 92
E-mail: ir@eurobatteryminerals.com
Mentor
Augment Partners AB is the mentor to Eurobattery Minerals AB: Phone: +46 (0) 86 042 255, e-mail: info@augment.se.
Stockholm, 31 May 2022 – The mining company Eurobattery Minerals AB (Nordic Growth Market: BAT and Börse Stuttgart: EBM; in short: “EBM”, “Eurobattery” or “the company”), today announced the purchase of a 40% stake in FinnCobalt Oy, which owns the ground and all mining rights of the Finnish Hautalampi nickel-cobalt-copper project. This is the first time Eurobattery Minerals has exercised its option to acquire 100% of the shares in FinnCobalt Oy in a staged process. The acquisition plays a significant role in the development of the company and in achieving its goal to establish a battery mineral mine followed by production and sales of critical battery minerals starting in 2023. As announced about two years ago, Eurobattery Minerals plans to acquire 100% of the shares in FinnCobalt by 2024 at the latest.
“I am proud and pleased to share the news about our first step in achieving our goal of acquiring 100% of the battery mineral mine project in Hautalampi. Today we are one big step closer to our goal of providing responsibly mined battery minerals from Europe to the European automotive and clean energy markets,” said Roberto García Martínez, CEO of Eurobattery Minerals AB.
Financial details of acquisition
The board of directors of Eurobattery Minerals has informed the founders of FinnCobalt Oy that they will exercise the first option to the contract that became effective on 27 May 2020, so that in the next 60 days before 27 July 2022 Eurobattery Minerals would make said option effective by paying in corresponding cash: EUR 250,000 as stipulated in the contract and a subscription of EUR 1,000,000 in EBM shares to the three founders. These two actions will be taken parallelly and simultaneously.
Hautalampi will be built on already existing mining infrastructure
Hautalampi is situated at the same site as the well-known Outokumpu copper mine where approximately 28.5m tons of rock with a copper content of 3.8% copper were mined from 1912–1989. The nickel-cobalt-copper orebody in Hautalampi is located parallel and above the exploited copper deposit. Existing surface and underground infrastructure, including a high voltage power line, concrete foundations, and roads, provide significant location advantages to the project. Approximately EUR10m–15m has been invested in Hautalampi by previous owners, including 26,000 m of core drilling, a decline and additional underground mine development works (2,100 m), mineral resource and reserve estimates, multiple mineral processing studies and a feasibility study. The previous investments will enable FinnCobalt Oy and Eurobattery Minerals to push the project forward quickly.
Acquisition opens up additional potential
The Hautalampi mine project is located in the historical mining area of Outokumpu, eastern Finland (see figure 1, appendix). Through the acquisition, Eurobattery Minerals has also obtained two additional reservation notifications for highly prospective grounds in Hietajärvi and Varislahti (see figure 2, appendix). Both prospective areas are located in close proximity to the mining centre in Hautalampi, and both have been found to contain similar rock formations as in Hautalampi, containing nickel, copper and cobalt.
About Eurobattery Minerals
Eurobattery Minerals AB is a Swedish mining company listed on Swedish Nordic Growth Market (BAT) and German Börse Stuttgart (EBM). With the vision to make Europe self-sufficient in responsibly mined battery minerals, the company’s focus is to realize numerous nickel-cobalt-copper projects in Europe to supply critical raw materials and, as such, power a cleaner world.
Please visit www.eurobatteryminerals.com for more information. Feel free to follow us on LinkedIn and Twitter as well.
Contact Eurobattery Minerals AB
Roberto García Martínez – CEO
E-mail: info@eurobatteryminerals.com
Contact Investor Relations
Linda Lenz
Phone: +49 (0) 172 834 18 92
E-mail: ir@eurobatteryminerals.com
Mentor
Augment Partners AB is the mentor to Eurobattery Minerals AB: Phone: +46 (0) 86 042 255, e-mail: info@augment.se.
Stockholm, 24 May 2022 – The mining company Eurobattery Minerals AB (Nordic Growth Market: BAT and Börse Stuttgart: EBM; in short: “EBM”, “Eurobattery” or “the Company”), today announces that FinnCobalt Oy, current owner of the Hautalampi project, has submitted the Hautalampi project Environmental Impact Assessment (EIA) Report to the North Karelia Centre for Economic Development, Transport and the Environment (“ELY-centre“) for official review. The EIA report will present the current status of the environment of the Hautalampi mine project, the environmental impact of the assessed options as well as their significance. As soon as the environmental compatibility of the Hautalampi project is officially confirmed, one of the conditions for Eurobattery Minerals to start mining at Hautalampi will be fulfilled.
“We are very pleased that we have now completed this important step. The environmental impact assessment is a key part in our business strategy to establish a battery mineral mine and provide responsible mined European minerals. The report is comprehensive and includes all the environmental aspects of the Hautalampi project,” comments Roberto García Martínez, CEO of Eurobattery Minerals AB.
The report comprises two different options for the Tailings Storage Facility and two options for the discharge waters and has been drafted based on the EIA-programme and the competent authority’s official conclusion on the programme. The official conclusion of the Environmental Impact Assessment report is expected on 22 September 2022. FinnCobalt Oy will commence the preparation of the Environmental Permit Application immediately and will submit the application in due course.
The report has been compiled by Envineer Oy together with FinnCobalt Oy own personnel and other consultants and is available (in Finnish) at the following links:
About Eurobattery Minerals
Eurobattery Minerals AB is a Swedish mining company listed on Swedish Nordic Growth Market (BAT) and German Börse Stuttgart (EBM). With the vision to make Europe self-sufficient in responsibly mined battery minerals, the company’s focus is to realize numerous nickel-cobalt-copper projects in Europe to supply critical raw materials and, as such, power a cleaner world.
Please visit www.eurobatteryminerals.com for more information. Feel free to follow us on LinkedIn and Twitter as well.
Contact Eurobattery Minerals AB
Roberto García Martínez – CEO
E-mail: info@eurobatteryminerals.com
Contact Investor Relations
Linda Lenz
Phone: +49 (0) 172 834 18 92
E-mail: ir@eurobatteryminerals.com
Mentor
Augment Partners AB is the mentor to Eurobattery Minerals AB: Phone: +46 (0) 86 042 255, e-mail: info@augment.se.
Stockholm, 20th of May 2022 – The mining company Eurobattery Minerals AB (Nordic Growth Market: “BAT” and Börse Stuttgart: “EBM”; in short: “EBM”, “Eurobattery” or “the Company”), published its figures for the first quarter of 2022 today.
“We are proud and happy about the in every sense strongest quarter in our company’s history. Backed by our directed issue of convertibles, we received SEK 18 million right at the beginning of this year’s second quarter. We will use this funding to acquire additional shares in FinnCobalt Oy, the current owner of the ‘Hautalampi’ mine, and for other potentially value-creating investments and projects. We have laid the foundation for the first mineral sales in 2023. Nothing can stop us from achieving that,” said Roberto García Martínez, CEO of Eurobattery Minerals.
Strategic and operational highlights Q1 2022
- EBM achieved exceptional exploration results for nickel, copper, and cobalt in the Spanish “Corcel” project: the deposit in Castriz comprises an estimated 60 million tonnes of mineralised rock with a nickel content of 0.25%. Accreditation of the resource by the responsible ALS Global laboratory will take place still in Q2 2022.
- Expansion of operations in Finland: FinnCobalt Oy received an exploration permit for the promising “Varislahti” project located approximately 10 kilometers from “Hautalampi” project. The prospect area contains cobalt, copper, and nickel, among other minerals, and is ideally connected to FinnCobalt’s infrastructure and current operating base.
- Initial assay results and sightings from phase 2 drilling campaign at Hautalampi provide concrete evidence that the two mineral resources “Hautalampi” and “Mökkivaara” are interconnected. A connection between the two deposits would make future mining operations at Hautalampi more efficient and economical. Accreditation also of this resource by the responsible ALS Global laboratory will take place still in Q2 2022, along with the mineral resource update according to the JORC code.
Key financial figures Q1 2022
- Net sales amounted to SEK 0 thousand (Q1 2021: SEK 0 thousand).
- Operating profit/loss after financial items totalled SEK -2,357 thousand (Q1 2021: SEK -2,721 thousand).
- Earnings per share after financial items amounted to SEK -0.15 (Q1 2021: SEK -0.17).
- Cash flow from operating activities was SEK 540 thousand (Q1 2021: SEK -2,048 thousand).
Significant events after the period (January–March 2022)
- At the beginning of April, the company decided to carry out a directed issue of convertibles of SEK 18 million to Formue Nord Fokus A/S. The objective of the directed issue, which is based on the Annual General Meeting’s authorization of 1 June 2021, is to finance the acquisition of additional shares in FinnCobalt Oy in line with existing agreements, and to finance additional value- creating investments as well as to create flexibility in acquiring other projects or parts thereof.
Detailed financial information
The Q1 2022 report of Eurobattery Minerals AB is available for download at the company’s website and can be viewed in the attachment of the release (see below).
This information is of the kind that the Company is required to disclose in accordance with the EU’s Market Abuse Regulation. The information was issued for publication through the agency of Roberto García Martínez, CEO of Eurobattery Minerals AB, on 20th of May 2022 at 07:30 CEST.
About Eurobattery Minerals
Eurobattery Minerals AB is a Swedish mining company listed on Swedish Nordic Growth Market (BAT) and German Börse Stuttgart (EBM). With the vision to make Europe self-sufficient in responsibly mined battery minerals, the company’s focus is to realize numerous nickel-cobalt-copper projects in Europe to supply critical raw materials and, as such, power a cleaner world.
Please visit www.eurobatteryminerals.com for more information. Feel free to follow us on LinkedIn and Twitter as well.
Contact Eurobattery Minerals AB
Roberto García Martínez – CEO
E-mail: info@eurobatteryminerals.com
Contact Investor Relations
Linda Lenz
Phone: +49 (0) 172 834 18 92
E-mail: ir@eurobatteryminerals.com
Mentor
Augment Partners AB is the mentor to Eurobattery Minerals AB: Phone: +46 (0) 86 042 255, e-mail: info@augment.se.
Stockholm, 16th of May 2022 – The Board of Directors of Eurobattery Minerals AB (Nordic Growth Market: “BAT” and Börse Stuttgart: “EBM”; in short: “EBM”, “Eurobattery” or “the Company”) has decided that the Company’s Annual General Meeting, which was scheduled for Wednesday, 8th of June 2022, will be postponed. The reason for the decision is delays in the audit of the 2021 Annual Report by the auditor. The Board will shortly convene the Annual General Meeting again.
About Eurobattery Minerals
Eurobattery Minerals AB is a Swedish mining company listed on Swedish Nordic Growth Market (BAT) and German Börse Stuttgart (EBM). With the vision to make Europe self-sufficient in responsibly mined battery minerals, the company’s focus is to realize numerous nickel-cobalt-copper projects in Europe to supply critical raw materials and, as such, power a cleaner world.
Please visit www.eurobatteryminerals.com for more information. Feel free to follow us on LinkedIn and Twitter as well.
Contact Eurobattery Minerals AB
Roberto García Martínez – CEO
E-mail: info@eurobatteryminerals.com
Contact Investor Relations
Linda Lenz
Phone: +49 (0) 172 834 18 92
E-mail: ir@eurobatteryminerals.com
Mentor
Augment Partners AB is the mentor to Eurobattery Minerals AB: Phone: +46 (0) 86 042 255, e-mail: info@augment.se.