Several steps closer to production as Eurobattery Minerals publishes its Interim Report January – September 2021

Stockholm, 18th of November 2021 – With a new drilling campaign in its Spanish Corcel project, mineral resource calculations and drilling under way in its Finnish Hautalampi project, as well as investigations of several battery mineral opportunities in Germany, Eurobattery Minerals has during the third quarter taken several important steps in delivering on its business strategy to provide the automotive industry with sustainable battery minerals mined exclusively in Europe. The target for the company is to produce and deliver battery minerals by 2023.

Third quarter 2021 (corresponding period last year)

• Net sales amounted to SEK 0 thousand (SEK 0 thousand).
• Operating income after depreciation/amortisation and financial items totalled SEK -5,621 thousand (SEK -3,510 thousand).
• Earnings per share after depreciation/amortisation and financial items amounted to SEK -0.36 (SEK -0.25).
• Cash flow from operating activities was SEK -5,406 thousand (SEK -4,777 thousand).

First nine months of 2021 (corresponding period last year)

• Net sales amounted to SEK 0 thousand (SEK 0 thousand).
• Operating income after depreciation/amortisation and financial items totalled SEK -2,463 thousand (SEK -8,692 thousand).
• Earnings per share after depreciation/amortisation and financial items amounted to SEK -0.79 (SEK -0.74).
• Cash flow from operating activities was SEK -10,604 thousand (SEK -8,423 thousand).

Significant events during the third quarter (July–September 2021)

• Eurobattery Minerals announced the availability of the mineral resource report from the Hautalampi project in Finland. The Mineral Resource Report provides an update for the Hautalampi deposit and adjoining Mökkivaara deposit resources. Eurobattery Minerals has the option to acquire 100% of FinnCobalt Oy in a staged acquisition.
• Eurobattery Minerals presented a new survey on end consumer perspectives on electric cars and sustainability. The survey was conducted in Sweden and Germany by the research company YouGov in August 2021 targeting Swedes and Germans who currently own or lease, or are interested in buying or leasing, an electric or hybrid car. 

Significant events after the period

• Eurobattery Minerals announced the start of a new drilling campaign at its Finnish battery mineral project targeting the Hautalampi project resource increase. The campaign will cover the previously non-drilled gap area between the Hautalampi deposit and the north-eastern extension of the Mökkivaara deposits, and aims to verify resources between these already established deposits. An earlier drilling campaign in 2020 confirmed a resource increase of approximately 100%. With a target of approximately 5,000 metres of new drilling, the campaign will be finalised in early 2022.

Summary of comments from Eurobattery Minerals CEO Roberto García Martínez:

“With the Q3 report in hand, I can conclude that we have taken several important steps in delivering on our business model to provide the automotive and battery industry with clean and sustainable battery minerals from Europe. Our solid and experienced team across Sweden, Germany, Finland and Spain aims to produce and deliver battery minerals by 2023, with our first sales the same year. 

Since our dual listing in Germany earlier this year, we have been busy investigating different battery mineral opportunities with representatives from several key German vehicle component manufacturers. We are looking at various opportunities in Germany, in the country that is the key automotive producer in Europe. With the need to source locally and sustainably, the mining industry and politicians in Germany are showing solid support for such initiatives.

We recently started a new drilling campaign at our Hautalampi project in Finland. With this drilling campaign, we aim to investigate the intersection between Hautalampi and the Mökkivaara deposit. We hope that the two ore bodies are connected. We hope to verify that the two ore bodies are connected, which would increase the exploration target whilst at the same time render economies of scale with one single larger ore body.

In combination with our Spanish Castriz project, where drilling is progressing according to plan, I can conclude that Eurobattery Minerals is in a good position, and we are running our operations according to our time plan”.

Eurobattery Minerals AB’s Interim Report January – September 2021 is attached to this press release and is available to download from the Company’s website: https://investors.eurobatteryminerals.com/en/economic-reports/.

For more information, please contact:

Roberto García Martínez, CEO of Eurobattery Minerals

press@eurobatteryminerals.com

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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 the contact person set out above on 18th of November 2021 at 08:00 CEST.

About Eurobattery Minerals

Eurobattery Minerals AB is a Swedish mining company listed on NGM Nordic SME (BAT) and Börse Stuttgart (EBM). As the foundation of the battery value chain, the company’s vision is to help Europe become self-sufficient in ethical and fully traceable battery minerals for the electric vehicle industry. The company is focused on exploration and development of several nickel-cobalt-copper projects in Europe to supply sustainably mined raw materials critical to the rapidly growing battery market.

Visit www.eurobatteryminerals.com for more information.

Augment Partners AB, e-mail: info@augment.se, phone: +46 8-604 22 55, is the company’s Mentor.