Stockholm, 22 February 2023 – The mining company Eurobattery Minerals AB (Nordic Growth Market: “BAT” and Börse Stuttgart: “EBM”; in short: “EBM”, “Eurobattery” or “the Company”), today published its year-end report for 2022.
"Having received the full right to exploit the complete Hautalampi mineral resource and announcing Ilari Kinnunen as the new managing director, we are set on fast forward in Finland. Meanwhile, in Spain, the metallurgical study for Corcel concludes that we can extract the minerals with recoveries as high as 50% using proven technologies. Furthermore, it confirms the presence of a high level of nickel worth EUR 113.9 million for just a small part of the project. That's also a strong signal from our battery mineral project on the Iberia peninsula," Roberto García Martínez, CEO of Eurobattery Minerals, comments the fourth quarter 2022.
Strategic and operational highlights for the fourth quarter 2022
- Eurobattery Minerals received the complete JORC-compliant report for Hautalampi – almost 40% increase in the contained metals confirmed.
- The Swedish Mining Inspectorate decided that all Eurobattery Minerals exploration permits in Sweden should automatically be extended by one year.
- Eurobattery Minerals received the final verdict of the Hautalampi mining concession proceeding.
- The company announced that Ilari Kinnunen had been appointed the new Managing Director of FinnCobalt Oy in Finland.
- German SRH AlsterResearch’s analysts initiated coverage of the company.
- The metallurgical study in Corcel confirmed high level of Nickel worth EUR 113.9 million.
- The company announced a new research collaboration with the University of Uppsala on mining for REE in its Swedish Fetsjön project.
- The rights issue received subscriptions for approx. 56% and the company will receive approx. SEK 27.5 million before the deduction of issue costs.
Key financial figures for Q4 2022
- Net sales amounted to SEK 0 (Q4 2021: SEK 0).
- Operating income after depreciation/amortisation and financial items totalled SEK -3,881 thousand (Q4 2021: SEK -4,160 thousand).
- Earnings per share after financial items before dilution amounted to SEK -0.25 (Q4 2021: SEK -0.26).
- Earnings per share after financial items after dilution amounted to SEK -0.23 (Q4 2021: SEK -0.26).
- Cash flow from operating activities was SEK -5,751 thousand (Q4 2021: SEK -5,392 thousand).
Key financial figures for the full year 2022
- Net sales amounted to SEK 0 (FY 2021: SEK 0).
- Operating income after depreciation/amortisation and financial items totalled SEK -20,141 thousand (FY 2021: SEK -16,776 thousand).
- Earnings per share after financial items before dilution amounted to SEK -1.28 (FY 2021: SEK -1.06).
- Earnings per share after financial items after dilution amounted to SEK -1.22 (FY 2021: SEK -1.06).
- Cash flow from operating activities was SEK -15,696 thousand (FY 2021: SEK -22,235 thousand).
- The Board of Directors does not intend to propose any dividend to the upcoming Annual General Meeting.
Detailed financial information
The year-end 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 22 February 2023 at 07:30 CET.
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
Contact Investor Relations
Phone: +49 (0) 89-1250903-35
Augment Partners AB is the mentor to Eurobattery Minerals AB
Phone: +46 (0) 86 042 255
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