Newsletter October

November is here, and the rights issue that started on the 30th of October is ongoing. During the month that passed, we attended an important trade fair in Spain and have visited a few other interesting places too. And we hope you did not miss our Market Update video?! Let´s go with October!

Market update video – Interview with CEO Roberto García Martínez
In our latest Market Update video, Eurobattery Minerals' CEO Roberto García Martínez shared insights on the company's progress and vision. Roberto discussed our mission to support Europe’s self-sufficiency in battery metals, emphasizing the critical role of our projects in Finland and Spain. Key milestones include our recent non-binding offtake agreement with Boliden, set to advance our Finnish battery mineral project Hautalampi. If you missed the video, you can watch it here.

The Rights Issue is ongoing – until 13 November 2024
Eurobattery Minerals AB continues to take significant strides toward securing Europe's supply of responsibly mined battery minerals for the green transition. Our rights issue of SEK 35.5 million, with an over-allotment possibility of up to SEK 10 million, marks a important moment in our journey to accelerate the development of our nickel, cobalt, and copper mining project in Finland. These critical minerals are essential for Europe's ambitious transition to clean energy and electric mobility.

With this new capital, we are poised to:
✅ Prepare a bankable feasibility for the Hautalampi battery mineral project in 2025.
✅ Repayment of all outstanding interest-bearing debt.
✅ Secure working capital at least until the exercise period of the Warrants in May 2025.
✅ Generate financial flexibility for further operations and potential future M&A transactions.

This capital raise is not only an investment in Eurobattery’s growth, but also in Europe's future—supporting self-sufficiency in battery minerals, creating a sustainable supply chain, and contributing to the green transition. The critical minerals mentioned above are also important for Europe´s strategic autonomy, for the region´s defence industry and ultimately, for the security of all Europeans.

You can read the complete information about the Rights Issue here.

Mining and Minerals Hall (MMH) 2024 – A Major Success for the mining industry, the city of Seville and Eurobattery Minerals The 5th edition of the MMH.
Mining and Minerals Hall concluded on October 17th at Fibes-Palacio de Congresos y Exposiciones de Sevilla after three fantastic days, leaving a remarkable impact. With over 14,700 visitors, 257 exhibitors (+50% from 2022) and filling three pavilions occupying over 6,400 square meters, the event continues to establish itself as a key international hub for the mining industry and as one of the biggest mining events in Europe (if not the biggest). It has had a big economic impact on the city of Seville, apart from all other positive synergies created.

MMH 2024 also featured an Innovation Hub and a scientific congress with 141 prominent speakers. With the EU's Critical Raw Materials Act in full force, MMH underscored the pivotal role of minerals in energy and digital transitions—crucial steps toward achieving Europe's Green Deal.

Eurobattery Minerals took part in this crucial mining event and we did so in the Swedish booth, under the umbrella of Cámara de Comercio Hispano-Sueca. It was three days of networking and meetings, and visits to the booth of very prominent guests, like the Swedish ambassador to Spain, Per-Arne Hjelmborn: politicians like Teresa Mallada de Castro and Jorge Paradela, and a range of other stakeholders.

An exciting and impactful event for the industry, focusing on sustainability, technological innovation, and the growing importance of responsible mining. We at Eurobattery Minerals are happy to be at the forefront of the mining and leading the way by participating in events like MMH 2024.

Commodity prices – November 2023 to November 2024

Visit to Sandvik's operations at Wolfram Bergbau und Hütten AG in Austria
The visit of Managing Director Ilari Kinnunen to Sandvik's operations at Wolfram Bergbau und Hütten AG in Austria is a powerful reminder of how responsible mining can have minimal environmental impact. The mine in Mittersill (state of Salzburg) is one of the most important tungsten mines world-wide. Seeing first-hand how the Mittersill mine operates with such a small footprint, especially next to a nature reserve, aligns perfectly with Eurobattery Minerals AB' vision of achieving zero or minimal carbon emissions at our own Hautalampi battery mineral project in Finland.

Visits like this give us valuable insights into how we can apply sustainable, state-of-the-art practices across Europe while contributing to Europe's strategic autonomy in critical materials. Thanks to Sandvik and Wolfram Bergbau und Hütten AG for receiving us.

Finnish member of parliament Hanna Räsänen visit our office in Outokumpu
We had the pleasure of welcoming Outokumpu’s own Member of Parliament, Hanna Räsänen, at our FinnCobalt Oy office in Finland. During the visit, we had the opportunity to present the Hautalampi battery mineral project and exhange ideas regarding ESG in mining as well as the technical and economic feasibility of the project, including mitigation measures. Other topics we discussed included the Environmental Permit Application submitted to the regional administration at the end of April this year and the application to the European Commission for Hautalampi to become a Strategic Project under the CRMA. We of course also discussed minerals, particularly critical raw materials.

Business Finland – Trade Mission to the United States and Canada
Business Finland organized a Trade Mission to the United States and Canada for Finnish companies in the battery sector. The visit was aimed for Finnish companies and research organizations that have new innovations and export solutions in the battery and smart manufacturing areas. And FinnCobalt Oy, wholly owned by Eurobattery Minerals, was invited to join this important trade mission.

The Trade Mission to the U.S. and Canada connects Finnish companies with key players in North America's booming battery industry. The mission included a visit to the The Battery Show Detroit (October 7-9) and visits to Ontario's automotive manufacturers (October 10-11).

During this trip, our team gained invaluable insights into best practices in responsible mining and battery manufacturing. Learning from these advancements and government-backed models for sustainable growth is essential to building a resilient European battery supply chain. From innovation in extraction to ethical sourcing, Eurobattery Minerals is committed to meeting Europe’s demand for responsibly produced battery minerals and supporting the transition to a fossil-free future.

As you can see, October was another busy month at Eurobattery Minerals. We keep on working and innovating to fullfil our vision: to make Europe self-sufficient in responsibly mined battery minerals and, as such, power a cleaner world.