Eurobattery Minerals publishes Q1 report for 2024 with the subscription
period for warrant series TO4 ongoing
EQS-Media / 14.05.2024 / 07:35 CET/CEST
Stockholm, 14 May 2024 - The mining company Eurobattery Minerals AB (Nordic
Growth Market: " BAT" and Börse Stuttgart: " EBM"; in short: "Eurobattery
Minerals" or the "Company") today published its report for the first quarter
2024.
"During Q1 Eurobattery Minerals have been working, among other things, on
the Environmental Permit Application for the Hautalampi battery mineral mine
project in Finland. The application was submitted to the Finnish authorities
at the end of April and by this we took a major step towards starting the
mining operations at the Hautalampi project ", comments Roberto García
Martínez, CEO of Eurobattery Minerals, regarding the first quarter 2024.
Strategic and operational highlights Q1 2024
* In January, the Company announced the process design for the
concentration plant at its battery mineral mine project Hautalampi. The
designed capacity of the plant is 500,000 tonnes per annum and is
expected to produce annually 21,000 tonnes of Ni 7%/Co 1.9% concentrate
and 5,000 tonnes of Cu 25% concentrate during the anticipated 12 years
of mining at the site.
* Also, in January, Eurobattery Minerals published the preliminary and
final outcomes for the rights issue. It showed that 28,288,738 units
were subscribed for, corresponding to a subscription rate of
approximately 77.3 per cent. The Company thereby received total issue
proceeds of approximately SEK 22.6 million.
* On 18 March 2024 Eurobattery Minerals announced positive results on
research proving that the bedrock conditions in its Finnish Hautalampi
battery minerals mine project are ideal for future mining operations.
Key financial figures for Q1 2024
* Net sales amounted to SEK 0 thousand (Q1 2023: SEK 0 thousand).
* Operating profit/loss after financial items totalled SEK -4,551 thousand
(Q1 2023: SEK -3,288 thousand).
* Earnings per share after financial items before dilution amounted to SEK
-0.11 (Q1 2023: SEK -0.20).
* Earnings per share after financial items after dilution amounted to SEK
-0.04 (Q1 2023: SEK -0.12).
* Cash flow from operating activities was SEK -7,960 thousand (Q1 2023:
SEK 1,388 thousand).
Significant events after the period
* At the end of April, Eurobattery Minerals submitted the environmental
permit application for the battery mineral mine project Hautalampi in
Finland. Filing the application for the environmental permit means that
the Company has now taken a major step towards mining operations in
Finland.
* At the beginning of May 2024, Eurobattery Minerals AB signed a Letter of
Intent to invest a majority stake in Spanish company Tungsten San Juan
SL ("TSJ"). TSJ is operating the development of the San Juan wolfram
deposit. The Project has all the necessary licences and contracts in
place to commence production, including a letter of intent for an
off-take agreement with an Austrian world-leading tungsten producer
within the Swedish Sandvik Group. The investment of EUR 2.5 million
through a new share issue is intended to enable the start of production
in 2025.
* In May, the Company announced that it will apply for the battery mineral
project Hautalampi to become a Strategic Project under the new EU
Critical Raw Materials Act. This is an open call from the European
Commission (DG GROW). The recognition of a project as a Strategic
Project has several advantages, including streamlined and predictable
permitting procedures and support in gaining access to finance.
Detailed financial information
The Q1 report for 2024 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 information that Eurobattery Minerals is obliged to make
public pursuant to the EU Market Abuse Regulation. The information was
submitted for publication, through the agency of the contact persons set out
below, at 2024-05-14 07:30 AM 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
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
End of Media Release
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File description: EBM_Q1_2024_English
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Issuer: Eurobattery Minerals AB
Key word(s): Energy
14.05.2024 CET/CEST Dissemination of a Press Release, transmitted by EQS
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Language: English
Company: Eurobattery Minerals AB
114 56 Stockholm
Sweden
Phone: +49 151 6568 0361
E-mail: info@eurobatteryminerals.com
Internet: www.eurobatteryminerals.com
ISIN: SE0012481570
WKN: A2PG12
Listed: Regulated Market in Berlin, Frankfurt, Munich, Stuttgart
EQS News ID: 1901955
End of News EQS Media
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1901955 14.05.2024 CET/CEST