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.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SWITZERLAND, SINGAPORE, SOUTH AFRICA, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION OF THIS PRESS RELEASE WOULD BE UNLAWFUL, BE SUBJECT TO LEGAL RESTRICTIONS OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES.
Stockholm, 17 March 2023 – The mining company Eurobattery Minerals AB (Nordic Growth Market: “BAT” and Börse Stuttgart: “EBM”; in short: “EBM”, “Eurobattery” or “the Company”) carried out a rights issue of units with subscription period from 7 December to 21 December 2022 (the “Rights issue”) consisting of shares and warrants of series TO3 (the “Warrants”). Those who subscribed in the Rights issue during the subscription period thereby received for each (1) unit one (1) new share in the Company and one (1) Warrant. Each (1) Warrant entails the right to subscribe for one (1) new share in Eurobattery during the subscription period which commences on 20 March and extends until 31 March 2023. The subscription price for subscription of new shares by exercise of Warrants has today been determined to SEK 2.44 per share. The issue proceeds will be used for further investments in the Corcel and Hautalampi projects as well as for financial flexibility to enable future potentially interesting M&A possibilities.
Terms for the Warrants in brief
- Holders of Warrants have the right to subscribe for one (1) new share in the Company for each (1) held Warrant at a subscription price of SEK 2.44 per share.
- The subscription price corresponds to a discount of 30 per cent to the volume-weighted average price of the Company’s share on NGM Nordic SME during the period from 6 March through today, 17 March 2023.
- The number of outstanding Warrants is 12,505,435, which upon full subscription would imply an increase of 12,505,435 shares in the Company, from 26,012,240 shares to 38,517,675 shares, and an increase in the share capital of SEK 12,505,435, from SEK 26,012,240 to SEK 38,517,675.
- Upon full exercise of the Warrants, the Company will receive a maximum of approximately SEK 30.5 million before issue costs.
- The subscription period runs from 20 March to 31 March 2023.
- The last day of trading in Warrants is on 28 March 2023.
- The outcome is expected to be published on 4 April 2023.
- For existing investors who do not participate in the issue of shares by exercising Warrants, the dilution will be approximately 32.5 per cent upon full exercise of the outstanding Warrants.
Other information
For investors that have their Warrants registered in a depository at a nominee, subscription and payment by exercise of Warrants must be made in accordance with instructions from each respective nominee. Please contact your nominee for further information.
For investors that have their Warrants directly registered on a VP account, subscription and payment by exercise of Warrants must be made according to instructions on the subscription form which is sent out by mail. The subscription form will also be available for download on the Company’s issue site, investors.eurobatteryminerals.com/en/warrants-series-to3/, Augment Partner AB’s offer site, www.augment.se/offerings/, and on Aqurat Fondkommission AB’s website, www.aqurat.se.
For more information about the Warrants, please see the complete terms which are available for download on the Company’s issue site, investors.eurobatteryminerals.com/en/warrants-series-to3/.
Advisers
Augment Partners AB acted as financial adviser and Bird & Bird Advokat KB acted as legal adviser in the transaction.
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.
IMPORTANT INFORMATION
Publication or distribution of this press release may in some jurisdictions be subject to statutory and legal restrictions and persons in those jurisdictions where this press release has been published or distributed should inform themselves about and observe such restrictions. The information in this press release does not constitute an offer to acquire, subscribe or otherwise trade in shares or other securities in Eurobattery Minerals.
This press release does not constitute an offer to acquire securities in the United States. The securities mentioned herein may not be sold in the United States without registration in accordance with The Securities Act of 1933 or without the application of an exception to such registration. The information in this press release may not be released, published, reproduced or distributed in or to the United States, Australia, Canada, New Zealand, Hong Kong, Japan, Switzerland, Singapore, South Africa, or any other country or jurisdiction where such action is not permitted or such action is subject to legal restrictions or would require further registration or other measures than required by Swedish law. Measures contrary to this instruction may constitute a breach of applicable securities laws.
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
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, 11 January 2023 – Eurobattery Minerals AB’s (Nordic Growth Market: “BAT” and Börse Stuttgart: “EBM”; in short: “EBM”, “Eurobattery” or “the Company”) rights issue of units has been registered with the Swedish Companies Registration Office. The last day for trading in paid subscribed units (“BTU”) is on 13 January 2023. Euroclear’s record date for conversion from BTU to shares and warrants is on 17 January 2023. The new shares and warrants are expected to be distributed to the respective shareholder’s VP account/depot on 19 January 2023. The first day of trading of the warrants of series TO3 (Ticker: BAT TO3) is on 19 January 2023 and they will be traded until and including 28 March 2023.
For more information, please contact
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
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.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SWITZERLAND, SINGAPORE, SOUTH AFRICA, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION OF THIS PRESS RELEASE WOULD BE UNLAWFUL, BE SUBJECT TO LEGAL RESTRICTIONS OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES.
Stockholm, 22 December 2022 – Eurobattery Minerals AB (Nordic Growth Market: BAT and Börse Stuttgart: EBM; in short: "Eurobattery" or the "Company") has completed the rights issue of units with subscription period between 7 December and 21 December 2022 (the "Rights issue"). The Rights issue has been subscribed to approximately 56 per cent and the Company will receive approximately SEK 27.5 million before deduction of issue costs. The subscription price in the Rights issue was SEK 3.00 per unit, where one unit consisted of one new share and one warrant free of charge. Approximately SEK 25.2 million, corresponding to approximately 51 per cent of the Rights issue, was subscribed for and allocated to investors that subscribed with unit rights. Approximately SEK 2.3 million, corresponding to approximately 5 per cent of the Rights issue, was subscribed for and allocated to investors that subscribed without unit rights. The outcome implies that no underwriting commitments will be claimed, and that the over-allotment issue of a maximum of SEK 15.0 million will not be utilised. The proceeds from the Rights issue will be used for partial repayment of an outstanding convertible, finalisation of the acquisition of all shares in FinnCobalt Oy and for further investments in the Corcel and Hautalampi projects.
Through the Rights issue the Company will receive gross proceeds of approximately SEK 27.5 million. The number of shares will increase by 9,172,102 shares, from 16,522,237 shares to 25,694,339 shares, when the new shares are registered by the Swedish Companies Registration Office in the beginning of January 2023. The share capital will increase by SEK 9,172,102, from SEK 16,522,237 to SEK 25,694,339, which implies a dilution of approximately 35.7 per cent. When the registration has occurred at the Swedish Companies Registration Office, paid subscribed units (BTU) are converted into shares and warrants. In total, 12,505,435 warrants of series TO3 will be registered (including the 3,333,333 warrants issued to Formue Nord Fokus A/S as communicated in an earlier press release on 31 October 2022), which entitle the holder to subscribe for one new share in the Company per exercised warrant during the period between 20 March and 31 March 2023. If all warrants of series TO3 are exercised, the Company’s shares will be diluted by an additional approximately 32.7 per cent.
Allocation of units subscribed without unit rights has been carried out in accordance with the allocation principles stated in the prospectus, which has been prepared in connection with the Rights issue and was published on 5 December 2022. Notice of allocation of units subscribed without unit rights will be sent to those allotted units today on 22 December 2022. Subscribed and allotted units must be paid for in cash, and the payment must be received by Aqurat Fondkommission AB on the settlement date, 27 December 2022, at the latest, according to instructions on the settlement note. No message is sent to those that have not been allotted any units.
Disclaimer
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 December 2022 at 17:00 CET.
Advisers
Augment Partners AB acted as financial adviser and Bird & Bird Advokat KB acted as legal adviser in the transaction.
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 realise 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.
For more information, please contact
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
IMPORTANT INFORMATION
Publication or distribution of this press release may in some jurisdictions be subject to statutory and legal restrictions and persons in those jurisdictions where this press release has been published or distributed should inform themselves about and observe such restrictions. The information in this press release does not constitute an offer to acquire, subscribe or otherwise trade in shares or other securities in Eurobattery Minerals.
This press release does not constitute an offer to acquire securities in the United States. The securities mentioned herein may not be sold in the United States without registration in accordance with The Securities Act of 1933 or without the application of an exception to such registration. The information in this press release may not be released, published, reproduced or distributed in or to the United States, Australia, Canada, New Zealand, Hong Kong, Japan, Switzerland, Singapore, South Africa, or any other country or jurisdiction where such action is not permitted or such action is subject to legal restrictions or would require further registration or other measures than required by Swedish law. Measures contrary to this instruction may constitute a breach of applicable securities laws.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SWITZERLAND, SINGAPORE, SOUTH AFRICA, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION OF THIS PRESS RELEASE WOULD BE UNLAWFUL, BE SUBJECT TO LEGAL RESTRICTIONS OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES.
Stockholm, 15 December 2022 – The Board of Directors of the mining company Eurobattery Minerals AB (Nordic Growth Market: “BAT” and Börse Stuttgart: “EBM”; in short: “EBM”, “Eurobattery” or “the Company”) has prepared a supplementary prospectus (the "Supplementary prospectus") to the EU growth prospectus which was approved and registered by the Swedish Financial Supervisory Authority and published on 5 December 2022 (the "Prospectus"). The Supplementary prospectus has today been approved by the Swedish Financial Supervisory Authority and, subsequently, published on the Company's and the Swedish Financial Supervisory Authority's respective websites. The Supplementary prospectus has been prepared due to the Company’s publication of results from metallurgical studies for the Corcel project through press release on 12 December 2022. The Company has also clarified that the offer to subscribe for units in Germany is exempt from prospectus obligation.
Investors who, prior to the publication of this Supplementary prospectus, have applied or otherwise consented to the subscription of units in the rights issue that Eurobattery made public on 31 October 2022 (the "Rights issue") have, according to Article 23 of the Prospectus Regulation, the right to withdraw their application or consent within three working days following the publication of the Supplementary prospectus, i.e. on 20 December 2022 at the latest.
The withdrawal should be made in writing to Aqurat Fondkommission AB, Box 7461, SE-103 92 Stockholm or via e-mail to info@aqurat.se. Investors who have applied for subscription of units through a nominee must contact their nominee regarding the withdrawal. An application that is not withdrawn within the specified period will remain binding and if an investor wishes to continue with their subscription of units they do not need to take any measures.
The Prospectus and Supplementary prospectus are available on the Company's offer site, www.eurobatteryminerals.com/en/rights-issue-2022/, on Augment Partners AB's offer site, www.augment.se/offerings/, on Aqurat Fondkommission AB's website, www.aqurat.se, as well as on the Swedish Financial Supervisory Authority's website, www.fi.se. For the complete terms and other information about the Rights issue, please refer to the Prospectus and the Supplementary prospectus.
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.
For more information, please contact
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.
IMPORTANT INFORMATION
Publication or distribution of this press release may in some jurisdictions be subject to statutory and legal restrictions and persons in those jurisdictions where this press release has been published or distributed should inform themselves about and observe such restrictions. The information in this press release does not constitute an offer to acquire, subscribe or otherwise trade in shares or other securities in Eurobattery Minerals.
This press release does not constitute an offer to acquire securities in the United States. The securities mentioned herein may not be sold in the United States without registration in accordance with The Securities Act of 1933 or without the application of an exception to such registration. The information in this press release may not be released, published, reproduced or distributed in or to the United States, Australia, Canada, New Zealand, Hong Kong, Japan, Switzerland, Singapore, South Africa, or any other country or jurisdiction where such action is not permitted or such action is subject to legal restrictions or would require further registration or other measures than required by Swedish law. Measures contrary to this instruction may constitute a breach of applicable securities laws.
Stockholm, 12 December 2022 – The mining company Eurobattery Minerals AB (Nordic Growth Market: BAT and Börse Stuttgart: EBM; in short: “EBM”, “Eurobattery” or “the Company”) today announces the result of a metallurgical study in its Spanish Corcel project. The study, carried out on 3 samples with different Nickel (Ni) grades (medium, low and high), confirms a high level of Nickel worth EUR 113.9 million (1) only in the small part of the Castriz project.
Highlights
- Metallurgical tests for Ni recovery have been performed on 3 samples (medium, low and high grade) from the drilling campaign carried out in 2021 in the Corcel project.
- The results of the metallurgical study, carried out by AGQ LABS, confirm the economic interest of the Corcel project, obtaining Ni recoveries above 50% in all the flotation tests carried out using conventional techniques.
- Considering the results of the flotation tests and the resources estimated in the NI 43-101 Technical Report, there would be 6,435 (2) tonnes of Ni concentrate only in the small part of the Castriz prospect area evaluated. In the larger Corcel, Castriz is one part, but the larger project also includes Monte Mayor and Monte Castello, deposits with similar rock formation indicating a much larger Ni deposit.
“With the metallurgical study in hand we can now see that there is a huge potential in the Corcel project with clear indications of EUR 113.9 million worth of Ni only in the small part of the Castriz project covered. With all current data available we can see that the potential of the Corcel project is significantly higher than previously anticipated. Combining this insight with the identification that we can use well-proven techniques to extract the minerals with recoveries above 50% underline that the outlook for a significant battery mineral mine in Corcel is great,” said Roberto García Martínez, CEO of Eurobattery Minerals.
The metallurgical study was carried out by AGQ LABS in Burguillos (Seville). AGQ LABS is a Chemical Technology Centre with a direct presence in 20 countries and has extensive experience in the mining sector, providing services in both the pre-operational and post-operational stages.
The scope of the study included a first stage of flotation foam and a subsequent stage of acid leaching of the flotation residue. The results obtained showed that the Ni content is recoverable by flotation, obtaining values higher than 50% (higher than 70% in the case of the high-grade sample).
Attached to this press release is an appendix with a detailed summary of the metallurgical study.
The complete metallurgical study is available for download via this link: https://eurobatteryminerals.com/en/projects/corcel-project/.
(1) Considering a payable Ni concentrate price of 17,698 €/t, the gross value of the Ni resources evaluated to date in the Corcel project amounts to 113,889,847 €.
(2) 5,595,580 mineral tonnes x 0.23 (Ni tonnes/100 mineral tonnes) x 50 Ni concentrate tonnes / 100 Ni tonnes) = 6,435 Ni concentrate tonnes
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 December 12, 2022, 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
Email: info@eurobatteryminerals.com
Contact Investor Relations
Sara Pinto
Phone: +49 (0) 89-1250903-35
Email: ir@eurobatteryminerals.com
Mentor
Augment Partners AB is the mentor to Eurobattery Minerals AB
Phone: +46 (0) 86 042 255,
Email: info@augment.se.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SWITZERLAND, SINGAPORE, SOUTH AFRICA, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION OF THIS PRESS RELEASE WOULD BE UNLAWFUL, BE SUBJECT TO LEGAL RESTRICTIONS OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES.
Stockholm, 5 December 2022 – The Board of Directors of the mining company Eurobattery Minerals AB (Nordic Growth Market: “BAT” and Börse Stuttgart: “EBM”; in short: “EBM”, “Eurobattery” or “the Company”) decided on a rights issue of units amounting to approximately SEK 49.6 million (the "Rights issue") on 31 October 2022, which was approved by the Extraordinary General Meeting on 30 November 2022. The Extraordinary General Meeting also authorised the Board of Directors to decide on an over-allotment issue of units amounting to a maximum of SEK 15.0 million (the "Over-allotment issue") in the event of over-subscription in the Rights issue. Due to the Rights issue, the Board of Directors has prepared a prospectus which has been published today on 5 December 2022. Furthermore, the Company will hold a digital investor meeting with the CEO of the Company, Roberto García Martínez, on 14 December 2022.
In connection with the Rights issue, the Board of Directors of Eurobattery has prepared an EU growth prospectus which today has been approved and registered by the Swedish Financial Supervisory Authority and subsequently published by the Company. The Prospectus is available for download on the Company’s issue site, www.eurobatteryminerals.com/en/rights-issue-2022/, Augment Partner AB’s offer site, www.augment.se/offerings/, on Aqurat Fondkommission AB’s website, www.aqurat.se, and as an attachment to this press release. The Prospectus will also be available on the Swedish Financial Supervisory Authority’s website, www.fi.se/en/. Subscription forms will be available on the websites mentioned above before the subscription period starts on 7 December 2022.
Indicative timetable for the Rights issue
7 December – 16 December 2022 | Trading in unit rights at NGM Nordic SME |
7 December – 21 December 2022 | Subscription period |
7 December 2022 – registration at the Swedish Companies Registration Office | Trading in interim units (BTU) |
22 December 2022 | Announcement of the outcome of the Rights issue |
Invitation to the Company’s investor meeting
The CEO of Eurobattery, Roberto García Martínez, will be presenting the Company at an investor meeting on Wednesday 14 December 2022 between 5:00 – 6:00 PM CET. Shareholders and other stakeholders have the opportunity to follow the presentation in real-time and ask questions to the Company during the subsequent Q&A session or, alternatively, watch the event afterwards on Financial Hearings’ webcast.
Registrations for the investor meeting are made on the following link: ir.financialhearings.com/eurobattery-minerals-2022/. Please note that the investor meeting will be held in English.
Advisers
Augment Partners AB is acting as the financial advisor and Bird & Bird Advokat KB is acting as the legal advisor in the transaction.
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.
For more information, please contact
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.
IMPORTANT INFORMATION
Publication or distribution of this press release may in some jurisdictions be subject to statutory and legal restrictions and persons in those jurisdictions where this press release has been published or distributed should inform themselves about and observe such restrictions. The information in this press release does not constitute an offer to acquire, subscribe or otherwise trade in shares or other securities in Eurobattery Minerals.
This press release does not constitute an offer to acquire securities in the United States. The securities mentioned herein may not be sold in the United States without registration in accordance with The Securities Act of 1933 or without the application of an exception to such registration. The information in this press release may not be released, published, reproduced or distributed in or to the United States, Australia, Canada, New Zealand, Hong Kong, Japan, Switzerland, Singapore, South Africa, or any other country or jurisdiction where such action is not permitted or such action is subject to legal restrictions or would require further registration or other measures than required by Swedish law. Measures contrary to this instruction may constitute a breach of applicable securities laws.
Stockholm, 30 November 2022 – The shareholders of the mining company Eurobattery Minerals AB (Nordic Growth Market: “BAT” and Börse Stuttgart: “EBM”; in short: “EBM”, “Eurobattery” or “the Company”) held an Extraordinary General Meeting on 30 November 2022 by advance voting, at which the following main resolutions were passed.
New issue of units with pre-emptive rights for the company’s shareholders
The Meeting decided to increase the company’s share capital by not more than SEK 33 044 474 through a new issue of not more than 16,522,237 units, with pre-emptive rights for the company’s shareholders. One unit right will be received for every one existing share held on the record date of 5 December 2022. One unit right entitles the holder to subscribe for one unit.
Authorization regarding Over-Allotment issue
The board was authorized to, on one or more occasions before the next annual general meeting, with or without deviating from the shareholders’ pre-emptive rights, resolve on the issue of a maximum of 5,000,000 units, each of a new share and a new warrant, provided that those who registered for subscription has not received full allotment.
Directed issue of warrants
Formue Nord Fokus A/S was offered to subscribe for a maximum of 3,333,333 new warrants which, when exercised, will result in the issue of a maximum of 3,333,333 new shares and an increase the company’s share capital of a maximum of SEK 3,333,333. The warrants are issued free of charge. The reason for the deviation from the shareholders’ pre-emptive right is an agreement with Formue Nord Fokus A/S regarding a liquidity-efficient repayment of an outstanding convertible.
Directed issue of a convertible
Formue Nord Fokus A/S was offered to subscribe for a convertible with a nominal amount of SEK 10,000,000, which means, upon conversion, the issue of a maximum of 10,000,000 new shares and an increase in the company’s share capital of a maximum of SEK 10,000,000. The reason for the deviation from the shareholders’ pre-emptive right is an agreement with Formue Nord Fokus A/S regarding a liquidity-efficient repayment of an outstanding convertible.
Changes to the articles of association
The Meeting approved to change the articles of association so that the number of shares will be a minimum of 25 000 000 and a maximum of 100 000 000 and the share capital a minimum of 25 000 000 SEK and a maximum of 100 000 000 SEK.
Incentive program for the CEO
The Meeting resolved to adopt an incentive program for the company’s CEO (“LTI 2022”). The three-year program enables the CEO, provided that certain performance goals are achieved, to, free of charge, acquire a maximum of 150 000 shares in the company.
Provided that the performance share rights have been allotted and vested, each performance share right entitles the holder to, during the period from and including 22 November 2025 up until 15 January 2026, either acquire one share at a price corresponding to the quota value of the share or, free of charge, receive a warrant that entitles to the subscription of a share in the company at a subscription price corresponding to the quota value of the share.
To implement the incentive program the company will issue and allot to the company a maximum of 197 139 new warrants.
To ensure delivery of shares or warrants to the participant in LTI 2022, the company will issue a maximum of 150,000 warrants. To hedge the company’s exposure to fees that may arise as a result of the use of performance share rights, the company will issue a maximum of 47,130 warrants. The share capital can increase by a maximum of SEK 197,139. The reason for the deviation from the shareholders’ preferential right is the introduction of LTI 2022. The warrants are issued free of charge.
The maximum dilution for the existing shareholders is 1.8 per cent of the company’s shares. Considering all the company’s outstanding incentive programs, the maximum dilution for the existing shareholders is 6.4 per cent.
Directed issue of shares to company associated with the CEO
Nazgero Consulting Services Ltd, a company controlled by the CEO of Eurobattery, was offered to subscribe for a maximum of 317 910 new shares which, if fully subscribed to, will increase the company’s share capital of a maximum of SEK 317 901. The reason for the deviation from the shareholders’ pre-emptive right is the company’s need to compensate the company’s CEO in a liquidity-efficient way.
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 November 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 interim report for the first nine months of 2022.
“Q3 brought great news from Finland. The JORC compliant report covering the complete Hautalampi project estimates 40% more metals than previously identified! We are now focusing on conducting the preliminary feasibility study that will allow us to predict the economic viability. As announced earlier in November, the additional funding will be instrumental in conducting these analyses and for financing the additional 60% acquisition of the Finnish battery mineral project. Finally, in Spain we have provided all necessary information for the completion of the Environmental and Operating Permit for the Corcel project,” said Roberto García Martínez, CEO of Eurobattery Minerals.
Strategic and operational highlights in the first nine months of 2022
- In January, Eurobattery Minerals AB announced highly satisfactory first assay results from drillings at the Spanish Corcel project: 60 million tonnes of rock with a nickel grade of 0.25% are estimated. The initial assay results are from the first two of seven drill holes carried out in the Castriz prospect area in 2021. Together with Monte Mayor and Monte Castello, Castriz is one of three prospect areas in the Corcel project.
- In February, FinnCobalt Oy, the current owner of the Hautalampi project, informed Eurobattery Minerals about its expansion in eastern Finland via a newly granted reservation for applying for an exploration permit over the highly prospective Varislahti prospect zone. Varislahti covers over 23.6 km2 of highly prospective ground and is expected to contain the minerals nickel, cobalt, copper, zinc, and gold. It is ideally located in terms of infrastructure and close to the Hautalampi project. Eurobattery Minerals has the option to acquire 100% of FinnCobalt in a staged process.
- In March, the company announced additional assay results from drillings at the Spanish Corcel project, confirming the results already communicated in January: an estimated 60 million tonnes of rock with a nickel grade of 0.25%. Accreditation of the resource was delayed until Q2 2022 due to Covid-19-related lags on the part of the responsible ALS Global laboratory.
- In March, Eurobattery Minerals also announced the first results from the phase 2 core drilling campaign completed at the Hautalampi Ni-Co-Cu project in eastern Finland. The results indicated that the resource areas in Hautalampi are connected. Such a connection will make intended future mining activities more efficient and economical. As in the case of the Corcel project, the full results for Hautalampi are also delayed due to Covid-19-related lags on the part of the responsible ALS Global laboratory. At the time of the announcement, the results were expected in Q2 2022, along with the mineral resource update according to the JORC.
- At the beginning of April, the company decided to carry out a directed issue of convertibles of SEK 18 million to Formue Nord Fokus A/S. The objective of the directed issue, which is based on the Annual General Meeting’s authorisation of 1 June 2021, 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, Eurobattery Minerals completed another step towards realising the Finnish Hautalampi battery mineral project as the environmental impact assessment (EIA) report was submitted. The EIA report will present the status of the environment of the Hautalampi mine project as well as the environmental impact of the assessed options and their significance. 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 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 (Cámara de Comercio Hispano Sueca). 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 terms of the 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.
- On 1 July, 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.
- In August, the company presented the results from a new German survey on consumers’ attitudes to battery minerals in connection with buying a car. The survey, conducted by analyst company YouGov concluded, among other things, that 48% are willing to pay a higher price for sustainable battery production and 57% support more mining in Europe for critical minerals.
- In August, Eurobattery Minerals took another important step in preparing for a mine in its Spanish Corcel project as the necessary information for completion of the Environmental and Operating Permit was submitted to the Energy & Mining Service of La Coruña. In order to obtain these permits, Eurobattery Minerals has now submitted the Exploitation Project, the Environmental Impact Study, and the Restoration Plan to the local authorities.
- In September, Eurobattery Minerals announced that FinnCobalt Oy, the majority owner of the Hautalampi project, had 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. Eurobattery Minerals view is that these requirements will help and speed up the process of the final environmental permit application and that the work to complete the EIA and preparation of the final environmental permit application will commence simultaneously.
- In September, the company announced an updated resource estimate on the Hautalampi project. The independent JORC-compliant estimate prepared by AFRY Finland Oy concludes that compared to the previous analysis in 2021, the available mineral resources in the mine project have almost doubled with approx. 40% more metals. The new estimate exceeds Eurobattery Minerals’ previous expectations and confirms that the Hautalampi mine project has over a third more battery minerals available than expected. The company is now conducting further technical and financial evaluations of the project viability.
Key financial figures for Q3 2022
- Net sales amounted to SEK 0 thousand (Q3 2021: SEK 0 thousand).
- Operating income after depreciation/amortisation and financial items totalled SEK -3,857 thousand (Q3 2021: SEK -5,621 thousand).
- Earnings per share after financial items before dilution amounted to SEK -0.25 (Q3 2021: SEK -0.36).
- Earnings per share after financial items after dilution amounted to SEK -0.23 (Q3 2021: SEK -0.36).
- Cash flow from operating activities was SEK 2,580 thousand (Q3 2021: SEK -5,406 thousand).
Key financial figures for the first nine months of 2022
- Net sales amounted to SEK 0 thousand (9M 2021: SEK 0 thousand).
- Operating income after depreciation/amortisation and financial items totalled SEK -16,260 thousand (9M 2021: SEK -12,463 thousand).
- Earnings per share after financial items before dilution amounted to SEK -1.06 (9M 2021: SEK -0.79).
- Earnings per share after financial items after dilution amounted to SEK -0.98 (9M 2021: SEK -0.79).
- Cash flow from operating activities was SEK -9,945 thousand (9M 2021: SEK -10,604 thousand).
Significant events after the reporting period
- In October Eurobattery Minerals received the complete JORC-compliant report entitled “Hautalampi Ni-, Cu-, Co-Deposit Mineral Resource Estimate, Outokumpu, Finland”. The independent report prepared by AFRY Finland Oy concludes that, compared to the previous analysis in 2021, the available mineral resources in the mine project have almost doubled with around 40% more metals.
- In October, Eurobattery Minerals decided on a rights issue of approx. SEK 49.6 million and proposed an authorisation for an over-allotment issue of an additional approx. SEK 15 million and decided on the issue of a convertible loan of SEK 10 million. Approximately SEK 24.8 million of the rights issue is secured by subscription and underwriting commitments, which correspond to 50.0% of the rights issue. The subscription period for the rights issue commences on 7 December and ends on 21 December 2022. With the additional funding, Eurobattery Minerals intends to complete the acquisition of 100% of the Hautalampi project from its current owner FinnCobalt during the first half of 2023. In addition to the completion of the acquisition of Hautalampi, the company also expects to publish an updated preliminary economic assessment (PEA) and a preliminary feasibility study (PFS) for Hautalampi during Q1 2023. As for Eurobattery Minerals’ Corcel project in Spain, the company expects to publish new metallurgical results in Q4 2022 and to start a third drilling campaign in Q1 2023, with the aim of accelerating Corcel to the same project stage as Hautalampi.
- In November, Eurobattery Minerals announced that the Swedish Mining Inspectorate has decided that all Eurobattery Minerals exploration permits have been automatically extended by one year. The extension is a result of legislative change mitigating the effects of Covid-19, which extends the validity of all exploration permits that were in force on 9 June this year.
- In November, Eurobattery Minerals received the final verdict of the Hautalampi mining concession proceeding. The completed mining concession proceeding in Hautalampi brings Eurobattery Minerals one step closer to a much-needed European battery mineral mine. According to Finnish mining law, the company now has the full right to exploit all the mineral resources in the area.
- In November Eurobattery Minerals announced that Ilari Kinnunen has been appointed new Managing Director (MD) of FinnCobalt Oy in Finland as of 01st of March 2023, replacing the current MD Markus Ekberg, who will be retiring. Markus Ekberg will continue as the Chairman of the Board of FinnCobalt Oy. Ilari Kinnunen, will be responsible for the development and operations of Hautalampi battery mineral mine development project.
Detailed financial information
The interim report January – September 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 30 November 2022 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
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.