21 November, 2019

Eurobattery Minerals AB hereby publishes its Interim Report for January – September 2019

Third quarter 2019 (same period previous year)

  • Net sales amounted to SEK 0 thousand (SEK 0 thousand).
  • Operating income after depreciation/amortisation and financial items totalled SEK –2,421 thousand (SEK –1,467 thousand).
  • Earnings per share after depreciation/amortisation and financial items amounted to SEK –0.24 (SEK –0.58).
  • Cash flow from operating activities was SEK –3,620 thousand (SEK –1,305 thousand).

First nine months of 2019 (same period previous year)

  • Net sales amounted to SEK 0 thousand (SEK 0 thousand).
  • Operating income after depreciation/amortisation and financial items totalled SEK –9,261 thousand (SEK –2,138 thousand).
  • Earnings per share after depreciation/amortisation and financial items amounted to SEK –0.96 (SEK –0.8).
  • Cash flow from operating activities was SEK –9,284 thousand (SEK –3,488 thousand).

Significant events during the period

  • The Company completed an extensive geochemical and geophysical programme at the Castriz prospect, part of its flagship Corcel nickel-cobalt-copper (Ni-Co-Cu) project in northwest Spain.
  • Several zones with coincident magnetic and Ni-Cu geochemical anomalies delineated. The Company was highly encouraged about the prospectivity at Castriz and decided the prospect warranted drill testing.
  • Diamond drilling commenced at Castriz on 17 September. Up to four diamond drill holes have been planned for approximately 1,000 metres of drilling. Geological logging and sampling of the drill holes has commenced.

Significant events after the period

In total, Eurobattery Minerals have 7 explorations permits in the northern parts of Sweden and all have recently been further investigated by geologists. In the field work, new samples have been taken for petrographic and chemical analysis and previously found and analyzed bouldes and outcrops have been investigated further.

Summary of CEO comments:

  • During the quarter, the Company completed preliminary ground-based exploration activities at the Castriz (“Castriz”) prospect.
  • The Company’s own exploration activities not only confirmed the historical work but defined additional high-quality prospects. This encouraged BAT to move straight into drill testing the highest-ranking targets.
  • Drilling has intersected the targeted rock sequences and the Company is encouraged by initial observations, which includes the presence of sulphide minerals.
  • The Company is well-funded to complete its maiden exploration programme at Castriz. BAT also plans to determine what preliminary metallurgical tests are required to assess potential development scenarios at Castriz.

Eurobattery Minerals AB Interim Report January – September 2019 is attached to this press release and is available to download from the Company’s website:

https://eurobatteryminerals.com/en/economic-reports/

For further information, please contact:

Roberto García Martínez, CEO

Email: roberto@eurobatteryminerals.com

This information is of the kind that the Company is required to disclose in accordance with the EU’s Market Abuse Regulation. The information was issued for publication through the agency of the contact person set out above on 21 November 2019 at 08:00 CEST.

Eurobattery Minerals in brief

Eurobattery Minerals is a mining and prospecting company focused on battery minerals such as nickel, cobalt, copper and rare earth elements. Business activities and operations are conducted exclusively in Europe with a focus on Spain and northern Sweden. The company has one mining license and eight exploration licenses. The headquarters is located in Stockholm. 

Augment Partners AB, tel. +46 8 505 651 72, email: info@augment.se is Eurobattery Minerals’ Mentor

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