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Stockholm, 11 May 2026 – The mining company Eurobattery Minerals AB (Nordic Growth Market: “BAT” and Börse Stuttgart: “EBM”); hereinafter “Eurobattery Minerals” or the “Company”, announces today that it has entered into a convertible bond issuance agreement (the “Agreement”) with Loft Capital Limited (“Loft Capital”), for a total committed facility of up to SEK 60,000,000 (the “Facility”). Simultaneously, the Company has submitted a drawdown notice for the first sub-tranche of SEK 10,000,000.
The Facility
Under the terms of the Agreement, Loft Capital has committed to subscribe to up to 600 convertible bonds, each with a par value of SEK 100,000, for an aggregate amount of up to SEK 60,000,000, structured in four tranches of SEK 15,000,000 each over a commitment period of 24 months.
The first tranche is composed of two sub-tranches: a first sub-tranche of SEK 10,000,000 available at closing, and a second sub-tranche of SEK 5,000,000 available 40 trading days thereafter.
The key terms of the Facility are as follows:
- Total Commitment: SEK 60,000,000 in four tranches of SEK 15,000,000 each
- Commitment Period: 24 months from the date of the Agreement
- Maturity: 12 months from the date of subscription of each tranche
- Subscription Price: 95% of par value
- Interest: The Bonds bear no interest
- Conversion Price: The higher of A) the lower of (i) SEK 0.35 per share (the “Fixed Conversion Price”), subject to customary anti-dilution adjustments, and (ii) 100% of the lowest volume-weighted average price (VWAP) of the Company’s shares over the 15 trading days preceding the relevant conversion date, and B) 106% of the quota value
The maximum number of shares issuable under the Facility shall not exceed 25% of the Company’s total issued share capital at any time.
In consideration for the Facility, the Company shall pay to Loft Capital a commitment fee equal to two and a half (2.5) percent of the principal amount of each tranche, in cash by way of set-off against the subscription price of such tranche.
The bonds are not listed on any financial market.
First drawdown of SEK 10 million
Simultaneously with the execution of the Agreement, the Company has submitted a drawdown notice for the first sub-tranche of SEK 10,000,000. Net proceeds to the Company, after deduction of the commitment fee and legal fees, amount to SEK 9,150,000.
Use of proceeds
The net proceeds from the Facility will be applied to fund the continued development of the Company’s projects, including the San Juan tungsten project in Galicia, Spain, and the Hautalampi nickel-cobalt-copper project in Finland, as well as for general corporate and working capital purposes.
CEO statement
Roberto García Martínez, CEO of Eurobattery Minerals AB, comments:
“The closing of this convertible bond facility is a transformational milestone for Eurobattery Minerals. With up to SEK 60 million of committed capital now secured, we have the financial foundation to bring the San Juan tungsten project into production. We are targeting first production in Q1 2027, at a time when European tungsten prices have reached record levels and demand for responsibly sourced European supply has never been stronger. This financing also allows us to advance our battery mineral project Hautalampi in Finland, where we continue to make progress towards our environmental permit. We are drawing the first tranche of SEK 10 million today and we are ready to execute.”
Statement from Loft Capital
Peter Harrison, Director of Loft Capital, comments:
“We are pleased to support Eurobattery Minerals as it advances its European critical minerals portfolio towards production. We see strong fundamental value in responsibly sourced European tungsten and battery metals supply, and we look forward to supporting the Company through this next phase of development.”
About Loft Capital
Loft Capital is an alternative investment firm focused on structured PIPE and convertible investments in publicly listed small-cap companies. Loft Capital targets companies undergoing transformational or capital-intensive periods, including growth initiatives, acquisitions, refinancing transactions, and other strategic corporate situations.
Dilution
The maximum number of new shares that may be issued upon conversion of the bonds under the Facility shall not exceed 25% of the Company’s total issued share capital at any time. As at the date of this announcement, the Company has 976,258,262 shares outstanding. The full conversion of the Facility at the Fixed Conversion Price of SEK 0.35 would result in the issuance of a maximum of approximately 171,428,571 new shares, representing approximately 14.9% of the current share capital on a fully diluted basis. Conversion at market prices below SEK 0.35 would result in a higher number of shares being issued.
Advisors
Advokatfirman Foyen acted as legal advisor to Eurobattery Minerals AB in connection with this transaction. Advokatfirman Lindahl acted as legal advisor to Loft Capital.
Important information
This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities. The bonds described herein have not been and will not be registered under any securities laws and may not be offered or sold except pursuant to an applicable exemption from registration requirements.
Language versions
Eurobattery Minerals AB publishes information in English, Swedish, and German for the convenience of our shareholders and stakeholders. In the event of any discrepancies or inconsistencies between the language versions, the English version shall prevail.
Stockholm, 2 April 2026 – The mining company Eurobattery Minerals AB (Nordic Growth Market: “BAT” and Börse Stuttgart: “EBM”; in short: “Eurobattery Minerals” or the “Company”) today announces that its wholly owned subsidiary FinnCobalt Oy (“FinnCobalt”) has received a supplementary information request from the Finnish Supervisory Agency (Lupa- ja valvontavirasto) in relation to the Environmental Permit Application (EPA) for the Hautalampi battery mineral project in Finland.
Such requests are a standard and expected part of the permitting process, reflecting the thorough and transparent regulatory framework governing mining projects in Finland and across the EU. Similar clarification rounds are a natural continuation of the review process following the submission of the EPA in April 2024 and the supplementary documentation provided in July 2025.
The Company has initiated an internal review of the request and is working closely with its specialized technical consultants and engineering advisors to assess the scope of the additional information required. Eurobattery Minerals will provide the requested clarifications and any supporting documentation in due course, following a thorough assessment of the authority’s request.
The permitting process is advancing in accordance with the regulatory procedure applicable to major mining projects in Finland, and the Company remains fully committed to providing comprehensive and high-quality responses to the authority’s requests.
The Hautalampi project, located in the historic Outokumpu mining region in Finland, is being developed as a future European source of responsibly produced nickel, cobalt and copper—critical raw materials for the sustainability transition. FinnCobalt has applied for Strategic Project designation under the EU Critical Raw Materials Act (CRMA), underscoring the project’s European strategic relevance.
Language versions
Eurobattery Minerals AB publishes information in English, Swedish, and German for the convenience of our shareholders and stakeholders. In the event of any discrepancies or inconsistencies between the language versions, the English version shall prevail.
Stockholm 21 August 2024 – The mining company Eurobattery Minerals AB (Nordic Growth Market: “BAT” and Börse Stuttgart: “EBM”; in short: “Eurobattery Minerals” or the “Company”) is pleased to announce that it has now submitted the application for its Hautalampi battery mineral project to become a Strategic Project under the EU’s Critical Raw Materials Act (CRMA). The European Commission (EC) is expected to announce the first list of Strategic Projects in December 2024.
In May this year, the Company announced in a press release its intention to apply for Hautalampi to become a Strategic Project under the CRMA. The CRMA was approved in record time as the EC aims to bolster the bloc’s strategic autonomy by reducing reliance on external suppliers for critical raw materials (CRMs). These materials are essential for the production of batteries, renewable energy technologies, and other various high-tech applications.
The Hautalampi nickel, cobalt, and copper mining project has been under development for several years, with significant advancements made in resource estimation, environmental management, and community engagement. Our commitment to minimising the environmental footprint is evidenced through our plan to focus on responsible mining practices and state-of-the-art processing techniques that will indeed contribute to EU
circular economy-related provisions in the CRMA. Eurobattery Minerals has for example signed a Memorandum of Understanding with a local energy company for the development of photovoltaic energy to support carbon-zero production of CRMs. The project is also aligned with the EU’s stringent environmental, social, and governance (ESG) criteria and continuous balance of increasing CRMs extraction. All this while also maintaining proof that such growth is conducted sustainably, responsibly, with the interests of local community at the forefront.
Roberto García-Martínez, CEO of Eurobattery Minerals, comments: “Achieving Strategic Project status for our Hautalampi project would be a pivotal milestone, driving forward our contribution to the EU’s ambition for a secure, resilient, and sustainable supply chain of critical raw materials. With the rising demand for nickel, cobalt, and copper—key elements in energy storage, electric vehicles, and renewable energy technologies—our project is strategically positioned to support the green transition and reduce the EU’s strategic dependencies on external sources”
The relevance of Hautalampi to the EU
The Hautalampi battery mineral project is critical for the EU’s strategic interests. It has the potential to be a significant source of nickel, cobalt, and copper, all considered Strategic raw materials as listed in Annex I of the CRMA. It will support Europe’s efforts to achieve self-sufficiency and reduce dependency on non-EU sources, particularly in the context of the green and digital transitions, thereby supporting the goal of CRMA which states that the EU should not be dependent on any single third country for more than 65% of imports of each strategic raw material.
The development of the project is based on sustainable resource management practices and has gained the support of private investors and government agencies such as the Finnish Funding Agency for Innovation (TEKES) and The Centres for Economic Development, Transport and the Environment (ELY).
Finally, the Hautalampi battery mineral project is located 345km from Helsinki, in well-known Outokumpu Mining Camp Area. This is an excellent location for mine development since there is strong local support for mining and the municipality is ideally positioned for the burgeoning EV battery manufacturing market in northern Europe. This strategic location will facilitate the seamless supply of processed materials to key industries across Europe, particularly in sectors related to renewable energy and electric mobility.
About the Hautalampi Battery Mineral Project
The Hautalampi project is located in the same region as the well-renowned Keretti mine where approximately 28.5 million tonnes of copper ore were mined between 1912–1989. The project consists of one mining concession covering 277 hectares with exposure towards cobalt, nickel, and copper. There are strong technical fundaments for the processing and production of commercial Co-Ni concentrate and Cu concentrate.
The target operational figures, as they appear in the pre-feasibility study from March 2023, indicate that Eurobattery Minerals will produce around 500,000 tonnes of ore per annum, with an expected mine life of +12 years. The total capital expenditure is estimated at EUR 65 million, and the payback period is 4.6 years. The mining project is expected to have a concentrate production of Cu-conc. 25% of 5,000 tonnes per annum and Ni/Co-conc. Ni 7%/Co 1.9% of 21,000 tonnes per annum.
The Finnish project has a pre-feasibility study from March 2023 and the Hautalampi ore reserves and minerals resources reserves have been classified in the highest categories as viable mining projects in the United Nations Framework Classification for Resources (UNFC). The Hautalampi mining permit (K7802) was registered in June 2023 and the Environmental Permit Application was submitted to the Finnish Authorities at the end of April 2024.
The Critical Raw Materials Act – a short background
The Critical Raw Materials Act (CRMA) entered into force on the 23 May 2024, establishing a framework to secure and sustainably supply critical raw materials across the EU. The CRMA introduces clear timelines for permit procedures for EU extracting projects, allows for the designation of strategic projects, and mandates comprehensive supply-chain risk assessments.
The act underscores the importance of critical raw materials for the EU’s green and digital transitions, as well as the resilience of its defence and aerospace sectors. A call for Strategic Projects under the CRMA was launched at the end of May 2024 aiming to boost the EU’s capacity for extraction, processing, and recycling of these materials while diversifying supply sources.
Our Hautalampi battery mineral project aligns perfectly with the objectives of the CRMA and represents a significant step toward ensuring the EU’s long-term supply security for critical raw materials. We look forward to the opportunity to contribute to Europe’s strategic goals and to play a key role in the continent’s sustainable industrial future.
During the process of application and adoption of the CRMA, the global strategic public affairs consultancy, Kreab Worldwide, acted as advisors to Eurobattery Minerals.
Stockholm, 13 July 2023 – The mining company Eurobattery Minerals AB (Nordic Growth Market: “BAT” and Börse Stuttgart: “EBM”; in short: “EBM”, “Eurobattery” or “the Company”) today announces that the Board of Directors resolved to issue 2 855 856 shares with the support of the authorization by the shareholders meeting on 13 June 2023. The share issue constitutes part of the Company’s acquisition of an additional 30 per cent of the shares of FinnCobalt Oy (”FinnCobalt”), the owner of the ground and mining rights to the nickel-cobalt-copper project Hautalampi. Following the closing, Eurobattery Minerals owns 70 per cent of FinnCobalt Oy and the Hautalampi project.
“In 2020, we announced our intention to acquire 100 per cent of the Hautalampi battery mineral mine project. Following the closing of the directed issue announced today, we have acquired an additional 30 per cent stake, thus continuing to deliver on our target. Alongside the financial aspects of the project, we have made significant advancements in our work to open a battery mineral mine and supply responsible minerals to Europe, powering the green transition,” said Roberto García Martínez, CEO of Eurobattery Minerals AB.
The Board of Directors of Eurobattery has today resolved to carry out a directed share issue of a maximum of 2 855 856 new shares. In the event that the share issue is fully subscribed, the aggregate number of shares and votes in the Company increase from 33 738 202 to 36 594 058. The subscription price in the share issue has been determined pursuant to applicable terms for the acquisition of the shares of FinnCobalt and corresponds to the volume weighted average price for the Company’s shares on NGM Nordic SME during the 10 trading days immediately prior to the day of the issue resolution.
The issued shares constitute part of the consideration for the shares in FinnCobalt that the Company acquires through the exercise of the second option pursuant to the Investment and Shareholders Agreement, which included an option to successively acquire FinnCobalt and which was entered into on 11 May 2020 and became effective on 27 May 2020. Pursuant to the terms of the second option, Eurobattery shall no later than 27 July 2023 pay an aggregate cash consideration of EUR 250 002 and issue shares in Eurobattery with a value of an aggregate of EUR 1 000 002 to the three founders of FinnCobalt. The payment of cash consideration and the delivery of the issued shares will be made simultaneously.
Stockholm, 21 June 2023 – The mining company Eurobattery Minerals AB (Nordic Growth Market: “BAT” and Börse Stuttgart: “EBM”; in short: “EBM”, “Eurobattery” or “the Company”), is pleased to announce that the Outokumpu town Urban Development Board initiated the zoning and site plan change for the Hautalampi mine project. Eurobattery Minerals owns 40 % of FinnCobalt Oy and Hautalampi project and has decided to acquire additional 30 %.
“I am very pleased with how work progresses in our Finnish battery mineral mine project. Yesterday we got the official listing in the Finnish mining right register, and today, the authorities announced the start of the zoning and site plan change. It is encouraging to see how our team in Finland work in close co-operation with the local authorities to move the project forward,” said Roberto García Martínez, CEO of Eurobattery Minerals.
The land zoning is according to the Land-use and Building Act in Finland and intends to support the site construction of the area in the near future. This includes building permits and supervision by authorities.
Outokumpu town structural services tendered the preparation of the zoning for the area of the Hautalampi mine. Sweco Finland Oy was selected by Outokumpu town as a zoning developer of the site plan for the Hautalampi mine area.
“We are very pleased with the progress made for the zoning by Outokumpu town, and we are looking forward to future co-operations with stakeholders, including landowners and city councils,” says Ilari Kinnunen, Managing Director of FinnCobalt Oy.
Stockholm, 19 June 2023 – The mining company Eurobattery Minerals AB (Nordic Growth Market: “BAT” and Börse Stuttgart: “EBM”; in short: “EBM”, “Eurobattery” or “the Company”) has received an additional report from the scientists in the research partnership with Uppsala University in collaboration with AGH University of Science and Technology in Krakow, Poland.
The new report further confirms the viability of the new method for large-scale extraction of rare earth elements in Eurobattery Minerals Fetsjön project in Sweden. The method allows recovery of rare earth elements through chemical treatment at low temperatures, thus avoiding costly and time-consuming mechanical treatment. Low-temperature treatment allows for the circular use of the chemicals. In addition, the scientists conclude that the method, patented in Poland, can also be used to extract these critical raw materials from other geological formations.
“To mine rare earth elements from Europe is a key priority for the region. It would secure our supply of these critical minerals for the green transition and release us from our unhealthy dependency on conflict minerals. This new method for very effective extraction allows for exploration of European minerals deposits, such as our project in Fetsjön”, said Roberto García Martínez, CEO of Eurobattery Minerals.
The research project Eurobattery Minerals is supporting is conducted by Prof. Jaroslaw Majka at Uppsala University and Prof. Maciej Manecki at AGH University of Science and Technology in Krakow, supported by Ph. D. candidate Julia Sordyl representing both universities. The parties are investigating the opportunity for a large-scale pilot.
More information about the project: https://investors.eurobatteryminerals.com/en/press-releases/new-ground-breaking-method-allows-nearly-100-recovery-of-rees-in-fetsjoen/.
Stockholm, 15 May 2023 – The mining company Eurobattery Minerals AB (Nordic Growth Market: “BAT” and Börse Stuttgart: “EBM”; in short: “EBM”, “Eurobattery” or “the Company”), is pleased to announce that the FinnCobalt Oy’s Hautalampi ore reserves and minerals resources reserves have been classified in the highest categories as viable mining projects in the United Nations Framework Classification for Resources (UNFC). Eurobattery Minerals owns 40 % of FinnCobalt Oy and Hautalampi project and has decided to acquire additional 30 %.
“Achieving the highest UN classification is a very significant proof of the potential of our Hautalampi project to supply the European market with responsibly mined battery minerals”, said Roberto García Martínez, CEO of Eurobattery Minerals.
UNFC is an international scheme for the classification, management and reporting of energy, mineral, and raw material resources. The UNFC classification complies with the European Commission’s Raw Materials Proposal: The Critical Raw Materials Act published by the European Commission on 16th of March 2023. The proposal suggests that each EU country should classify its minerals reserves according to the United Nations Framework Classification for Resources. The Hautalampi UNFC actual classification was originally done by Geological Survey of Finland (GTK).
The information in the report “Hautalampi Ore Reserves and Mineral Resources classification according to UNFC-2019 and bridging to the JORC 2012-Code” refers to ore reserves and mineral resources statement prepared by AFRY Finland Oy (7th of March 2023) transferred to the UNFC-classification.
The report is prepared by Dr. Hannu Makkonen (EurGeol), Suomen Malmitutkimus Oy who has also been team member preparing the guidance documentation (180212_A_guidance_for_the_application_of_the_UNFC) for UNFC. Dr. Makkonen owns no shares in FinnCobalt Oy or Eurobattery Minerals AB.
The complete Hautalampi UNFC report is available in Eurobattery Minerals website: https://eurobatteryminerals.com/en/projects/hautalampi/.
Stockholm, 20 March 2023 – The mining company Eurobattery Minerals AB (Nordic Growth Market: “BAT” and Börse Stuttgart: “EBM”; in short: “EBM”, “Eurobattery” or “the Company”), is pleased to announce that FinnCobalt Oy together with AFRY Finland Oy has completed the Hautalampi mining project pre-feasibility study. Eurobattery Minerals owns 40% of the FinnCobalt Oy and Hautalampi project.
Key points from the pre-feasibility study:
- With a conservative metal price, and a total capital expenditure of 65.1 million euro (excluding contingency) the payback period is 4.6 years.
- Mining will commence after a one-year construction period including rehabilitation of the underground mine, construction of the surface crushing and processing plants, and a new tailings storage facility. The project implementation requires valid environmental permit.
- Total metal production during the anticipated 12 years mining operations will be 11,400 tonnes of nickel and 2,900 tonnes of cobalt in the nickel-cobalt concentrate and 9,600 tonnes of copper in the copper concentrate.
- The pre-feasibility study is based on the underground mining operation with total mining of 4.6 Mt of ore reserves with the grades of Ni 0.3%, Co 0.08% and Cu 0.24%.
- Eurobattery Minerals expects that the investment cost will decrease, and the project economics improve when the actual detailed engineering commences and cost uncertainties due to the current Russo – Ukrainian war will clarify.
“I am excited about the outcome of the pre-feasibility study cementing the strong economic outlook for our Finnish battery mineral mine. With the study at hand and the environmental impact assessment that we expect to be filed soon followed by the environmental permit application, we will now elevate our conversations with several potential off-take partners. Furthermore, we will commence the optimisation of the project and see how we could push the investment costs down and increase the project viability further,” said Roberto García Martínez, CEO of Eurobattery Minerals.
Summary of the pre-feasibility study
The pre-feasibility study is based on the underground mining operations with total mining of 4.6 Mt of ore reserves with the grades of Ni 0.3%, Co 0.08% and Cu 0.24%. Additional 369 kt of inferred mineral resource were also used to create the Life of mine plan and financial model.
The underground mining will commence after a one-year construction period which includes rehabilitation of the underground mine, construction of the surface crushing and processing plants and a new tailings storage facility. The underground mining rate will be some 450,000 – 480,000 tonnes per annum and mining operations will continue for 12 years. Total metal production will be 11,400 tonnes nickel and 2,900 tonnes cobalt in the nickel-cobalt concentrate and 9,600 tonnes copper in the copper concentrate. Based on the extensive metallurgical test work, concentrates are of very good quality, without any deleterious elements and should be easily marketable either for Finland’s domestic metallurgical industry or internationally.
| Hautalampi Ore Reserves as of 7th March 2023 @30€/t NSR Cut-off. | ||||||||
| Ore Reserve | Grade | Contained Metals | ||||||
| Tonnes | Ni | Cu | Co | Ni (t) | Cu (t) | Co (t) | ||
| Proven | 1,871,000 | 0.36% | 0.30% | 0.09% | 6,800 | 5,700 | 1,600 | |
| Probable | 2,693,000 | 0.25% | 0.19% | 0.07% | 6,900 | 5,300 | 1,900 | |
| Total | 4,564,000 | 0.30% | 0.24% | 0.08% | 13,700 | 11,000 | 3,500 | |
(1) The ore reserve estimate has an effective date of 7thMarch 2023. (2) The estimate has been prepared and reported in accordance with the recommendations of the 2012 Australasian Code for Reporting of Mineral Resources and Ore Reserves (JORC 2012). (3) Exchange rate used: USD/EUR 1.00. (4) NSR cut-off value for the estimate is 30€/t. (5) NSR = net smelter return. NSR is calculated using (USD prices of) nickel USD 20,000 /t, copper USD 9,000 /t and cobalt USD 60,000 /t. Recoveries for Ni 82%, Cu 86.5% and 82% for Co. Payment to concentrate percent for Ni 70%, Cu 90% and Co 50% were used. (6) Mining recovery of 95% was assumed in reserve conversion and mining dilution ranging from 10-15% was applied. (7) No inferred mineral resource was converted to ore reserves.
Additional mineral resources of the Hautalampi project are as follows. The additional resources estimation has an effective date of 7th March 2023. The estimation is prepared by removing the mining reserve and unmineable areas from the Resource Statement reported on 18th October 2022.
| Addtitional resources | Tonnes | Grade | Contained metals | ||||
| Ni | Cu | Co | Ni(t) | Cu(t) | Co(t) | ||
| 4,707,000 | 0.22% | 0.11% | 0.05% | 10,331 | 5,316 | 2,158 |
The additional resource of 4,7Mt mineralization is a remarkable asset for the future development and extension of the Hautalampi Mine life span if and when the future metal prices are favorable.
The total investment capital cost has been estimated to be around EUR 65 million excluding the proposed 15% contingency, which brings the total Capital Expenditure to EUR 74.8 million. The total turnover for the mine is some EUR 420 million and the payback period is 4.6 years. The Internal Rate of Return is 20% assuming EUR 10 million grant. Metal prices used in the financial study are Copper 9,750 USD/t, Nickel 20,000 USD/t and Cobalt 70,000 USD/t which are relevant long-term consensus forecast prices. All financial figures are based on the current high-level capital investment cost and assuming EUR 10 million investment grant. The company expects that the investment cost will decrease and the project economics improve when the actual detailed engineering commences and recent construction material price increases due to the uncertainties due to the ongoing Russo – Ukrainian war will disappear.
The complete pre-feasibility report is available from Eurobattery Minerals website https://eurobatteryminerals.com/en/projects/hautalampi/.
Competent Person’s Statement
The information in this release that relates to Mineral Resources and ore reserves is based on information compiled by Mr Ville-Matti Seppä, a Competent Person who has a EurGeol qualification. Mr Seppä is a full-time employee of AFRY Finland Oy. Mr Seppä has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources, and Ore Reserves”. Mr Seppä has reviewed, verified, and approved the contents of this news release as they relate to the mineral resource estimate. Mr Seppä owns no shares in FinnCobalt Oy or Eurobattery Minerals AB.
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 March 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
E-mail: info@eurobatteryminerals.com
Contact Investor Relations
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, 29 September 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 it has received an updated resource estimate on the Hautalampi project. The independent JORC-compliant estimate prepared by AFRY Finland Oy concludes that compared to previous analysis in 2021, the available mineral resources in the mine project has almost doubled with almost 40% more metals. Eurobattery Minerals owns 40% of the Hautalampi project and have the option to acquire 100% from its current majority owner FinnCobalt.
“I am extremely pleased! The new estimate exceeds our previous expectations and confirms that the Hautalampi mine project has more than 1/3 more battery minerals available than what was thought. It’s a significant discovery and sends a strong message – our Finnish mine project have all the prerequisites to be an important source for responsible mined battery minerals powering the European automotive and clean energy sector,” said Roberto García Martínez, CEO of Eurobattery Minerals.
Key information and findings
New area covered: The new resource estimate prepared by AFRY Finland Oy includes newly estimated Hautalampi area and its North-Eastern extension known as the Mökkivaara area. Both areas have been the target of the year 2021 core drilling campaign, which was completed in December 2021.
Significant tonnage increase: Compared to the estimate by AFRY Finland Oy in 2021, the total tonnage in the measured, indicated, and inferred resource categories tonnage has almost doubled and contained metal increased approximately 39% in the mine lease area.
JORC-code compliant: The estimate has been prepared and reported in accordance with the recommendations of the 2012 Australasian Code for Reporting of Exploration Results, Mineral Resources, and Ore Reserves (JORC-code). The mineral resource is estimated using a database containing approximately 86,500 meters of diamond core drilling including 4,600 meters drilled during the 2021 campaign.
Next steps: With the resource update in hand, Eurobattery Minerals will now conduct further technical and economical evaluations of the project viability. This includes investigate different downstream processing and off-take options to receive maximum revenue especially from the Nickel-Cobalt concentrate
Details about the Hautalampi and Mökkivaara deposit measured and indicated mineral resource
- 9.3 million tonnes (Mt) at an average grade of Ni 0.28%, Cu 0.19% Cu and Co 0.07%
- Contained metal Ni 26,100 tonnes, Cu 17,700 tonnes and Co 6,200 tonnes in the measured and indicated category
- Additional inferred resources at Hautalampi area 0.2 Mt at an average grade of Ni 0.21%, Cu 0.12% and Co 0.02%.
The north-east extension of the mineralization, Mökkivaara deposit, with following inferred resource:
- 3.2 Mt at an average grade of Ni 0.22%, Cu 0.13% and Co 0.05%
- Contained metal: Ni 7,000 tonnes, Cu 4,100 tonnes and Co 1,600 tonnes
The mineral resource is estimated using a database containing approximately 86,500 meters of diamond core drilling including 4,600 meters drilled during the 2021 campaign.
Competent person’s statement
The information in this release that relates to mineral resources is based on information compiled by Mr. Ville-Matti Seppä, a Competent Person who has an EurGeol qualification.
Mr. Seppä is a full-time employee of AFRY Finland Oy. He has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources, and Ore Reserves”. Mr. Seppä has reviewed, verified, and approved the contents of this news release as they relate to the mineral resource estimate. Mr. Seppä owns no shares in FinnCobalt Oy or Eurobattery Minerals AB.
Report availability
The complete report on Hautalampi and Mökkivaara deposit project mineral resources estimate will be published on the Eurobattery Minerals AB and FinnCobalt Oy web pages as soon as the companies will receive the report. This is expected in October 2022.
In the attached appendix detailed information about resource estimates and estimations principles can be found along with maps of the Hautalampi project.
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 29 September 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
Sara Pinto
Phone: +49 (0) 89-1250903-35
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, 26 September 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, the majority owner of the Hautalampi project, has received a request for additional information for the Hautalampi project Environmental Impact Assessment (EIA) Report from the North Karelia Centre for Economic Development, Transport and the Environment (“ELY-centre“). Eurobattery Minerals owns 40% of FinnCobalt and has an option to increase the ownership to 100%.
The complex nature of the former copper mine site requires more information on the current environmental situation to be submitted as a part of the Environmental Impact Assessment. The authorities also require some more detailed technical information, especially about the proposed Tailings Storage Facilities.
“Our view is that these requirements will help and speed up the process of the final environmental permit application. The work to complete the EIA and preparation of the final environmental permit application will now commence simultaneously,” comments Roberto García Martínez, CEO of Eurobattery Minerals AB.
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
Sara Pinto
Phone: +49 (0) 89-1250903-35
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