Svenska
Deutsch
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
Stockholm, 30 August 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 submitted the necessary document to the Energy & Mining Service of La Coruña, Spain, to complete the Environmental Impact Statement and the Operating Permit for its Spanish battery mineral project Corcel.
“The nickel-cobalt-copper mine in northern Spain will be instrumental in delivering responsibly mined raw material needed for a clean transition of the electric vehicle and energy industry. Due to their scarcity and as a result of the increased demand in recent years, these are recourses declared strategic by the European Union. At Eurobattery Minerals, we are committed to responding to European policymakers and businesses with battery minerals mined in Europe”, said Roberto García Martínez, CEO of Eurobattery Minerals.
More information about the documents submitted
Completion of the Environmental Impact Statement and the Operating Permit is fundamental for the start of mining operations in Corcel. In order to obtain these permits, Eurobattery Minerals has now submitted the Exploitation Project (1), the Environmental Impact Study (2), and the Restoration Plan (3) to the local authorities.
- The Exploitation Project (1) justifies that the Ni-Co-Cu resources within the Corcel project allow for developing a technically and economically viable mining project.
- The Environmental Impact Study (2) analyses the current state of the area where the project will be developed and identifies the possible impacts of the mining project’s implementation on the environment.
- Based on the Environmental Study, the proposed Restoration Plan (3) will be designed for the area’s environmental and landscape integration and ecological improvement. The Restoration Plan justifies that the development of the Corcel mining project adds value to a resource declared as strategic by the European Union due to its scarcity and increased demand in recent years. Furthermore, the development of the Corcel mine is contributing to the “ecological transition” and decarbonisation. It allows the development of an economic activity that generates wealth and employment and positively impacts the area where the project will be implemented.
About the Corcel project
The Corcel project compromises three different deposits (Castriz, Monte Mayor and Monte Castello) and is located on a large Ni-Co-Cu deposit in the northeast of Spain. Based on results from several recent drilling campaigns and independent reports, Eurobattery Minerals aims to produce minerals for a few million car batteries with a capacity of 60 kWh from the Corcel project in the future.
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
Representative survey: 48 percent are willing to pay a higher price for sustainable battery production – 57 percent support more mining in Europe for critical minerals
Electromobility is the buzz word of our time. But where do the raw materials that are urgently needed for the electric revolution come from? Lithium, cobalt, nickel, and copper – without these minerals, the manufacture of batteries and thus the production of electric cars is not possible.
The mining company Eurobattery Minerals (Nordic Growth Market: BAT and Börse Stuttgart: EBM) wanted to know what the end customer, i.e. the car buyer, thinks about the procurement of these minerals, especially from countries like Congo, Chile, China or Russia – in other words, from countries where little attention is paid to decent working conditions, environmental protection or the prohibition of child labour.
The results of the representative survey commissioned by Eurobattery Minerals and conducted by the analysis institute YouGov show that sustainability is the top priority for most people considering the purchase of an electric car/hybrid. The willingness of German citizens to buy an electric or hybrid as their next car has also increased by 18 percent compared to the previous year. Whereas last year 66 percent categorically refused to even think about buying or leasing an electric or hybrid car, this year only 48 percent did so. The main results of the survey:
- 69 percent of respondents consider sustainability very important to important when buying an electric or hybrid car.
- Fair working conditions along the supply chain are very important to important for 59 percent.
- 53 percent attach importance to uncritical countries of origin for the components of an e-car.
- For 85 percent, the price of an electric/hybrid car is very important to important, for 83 percent, the range.
- 48 percent of respondents would be willing to pay a higher price for the car if the battery components were produced more sustainably.
- 57 per cent of respondents are in favour of increased mining of battery minerals in Europe – i.e. more mines – to reduce dependence on China.
- 48% of respondents do not own an electric/hybrid car, neither want to lease nor are thinking about buying or leasing. Compared to a very similar Eurobattery Minerals survey in 2021, this is 18% fewer Germans than last year.
Eurobattery Minerals announced the result of the electric car and sustainability survey today.
“We had a similar survey done a year ago and were curious to see what had changed in the behaviour of the citizens due to inflation, gas and electricity crisis and Ukraine war. It showed that many more people are now thinking about buying an electric car and that their main motivation is the sustainable production of all components – especially the battery. An astonishing 57 percent of respondents were in favour of more mining in Europe to ensure decent working conditions and respect for the environment when mining critical minerals. This is a clear vote and should give politicians food for thought,” says Roberto García Martínez, CEO of Eurobattery Minerals.
About the survey
The survey was conducted by the analysis institute YouGov in the period from 3 to 5 August 2022. The survey is based on a total of 2051 online interviews with German citizens aged 18 and over from the YouGov Panel Germany. The members of the panel have agreed to participate in online interviews.
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, 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.