First quarter 2021 (same period previous year)
- Net sales amounted to SEK 0 thousand (SEK 0 thousand).
- Operating income after financial items totalled SEK –2,721 thousand (SEK –2,248 thousand).
- Earnings per share after financial items amounted to SEK –0.17 (SEK –0.14).
- Cash flow from operating activities was SEK –2,048 thousand (SEK –2,522 thousand).
Significant events during the first quarter
- Eurobattery Minerals has announced that it intends to expand to Börse Stuttgart, under the ticker symbol EBM, by extending its listing from Nordic Growth Market (NGM) in Sweden. The Company has also announced that it will be opening an office in Berlin. The Company will remain a Swedish public limited company headquartered in Stockholm.
- FinnCobalt Oy, a company that Eurobattery Minerals has the option to gradually acquire in full, has reported the final analysis results from the summer’s drill programme at the Hautalampi Ni-Co-Cu project in eastern Finland. The drillings have confirmed a considerable increase in the resource potential, from 800 to 1,400 metres along the strike direction northeast of the historical mineral resource, and an extension of the westernmost mineralised zone in a south-westerly direction towards the historical mineral resource Hautalampi.
- The Company has recorded positive initial results from its cooperation with AGH University of Science and Technology in Krakow on the development of optimal technology for the extraction of vanadium and rare earth elements (REE) from minerals in black shales. The technology that has been developed enables sustainable and cost-effective enrichment of vanadium and REE at relatively low temperatures without the use of chemicals. The research has concluded that the previously confirmed large quantities of vanadium in the Fetsjön black shales is partly tied to the minerals rutile and mica, and partly to certain clay minerals.
- Eurobattery Minerals presented the report ‘Critical raw materials and e-mobility’, which was produced by London-based risk analysis firm Aperio Intelligence. The report provides an overview of supply and demand for critical raw materials within the EU, based on the EU’s goal of increasing the degree of self-sufficiency in terms of raw materials in light of the electric vehicle revolution.
Significant events after the end of the period
- FinnCobalt Oy has engaged leading process consulting company AFRY to produce an estimate of the mineral resources at the Hautalampi project. AFRY will also provide FinnCobalt Oy with additional technical and financial evaluations, along with consulting services. The results are expected in six months. Eurobattery Minerals has the option to gradually acquire 100 percent of FinnCobalt Oy.
Summary of comments from Eurobattery Minerals CEO Roberto García Martínez:
“At the beginning of Q1, we made the strategic move of entering the German market via a parallel listing at the Börse Stuttgart in Germany. I cannot underestimate the importance of the company having a presence in the biggest market in the automotive industry in Europe and globally.
The entry into the German market is also significant from another perspective. We are now present in the biggest financial market in the EU post Brexit. The parallel listing gives easy access to Eurobattery Minerals for potential shareholders from Europe who are interested in investing.
Q1 also gave us the final results from last summer’s drilling campaign at our Hautalampi project in eastern Finland. And we are thrilled to have confirmation that there is a significant resource expansion in this nickel, copper and cobalt project. The next step – and a significant prerequisite in developing a battery mineral mine – is to conduct a resource estimate, and work is underway with results due after the summer.”
Eurobattery Minerals AB’s Interim Report January – March 2021 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
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 20th of May 2021 at 08:00 CEST.
About Eurobattery Minerals
Eurobattery Minerals AB is a Swedish mining company listed on NGM Nordic SME (BAT) and Börse Stuttgart (EBM). As the foundation of the battery value chain the company’s vision is to help Europe become self-sufficient in ethical and fully traceable battery minerals for the electric vehicle industry. The company is focused on exploration and development of several nickel-cobalt-copper projects in Europe to supply sustainably mined raw materials critical to the rapidly growing battery market.
Please visit www.eurobatteryminerals.com for more information.
Augment Partners AB, e-mail: email@example.com, phone: +46 8-604 22 55, is the company’s Mentor.
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