Eurobattery Minerals AB Announces Fourth Quarter 2023 Results

On February 22, 2024, Eurobattery Minerals AB, a mining company listed on the Nordic Growth Market and Börse Stuttgart, released its report for the fourth quarter of 2023. The company focused its efforts on the development of the Hautalampi battery minerals mining project, with the preparation of the environmental permit application for the first quarter of 2024 and the completion of the planned project acquisition for this year. This step is part of the preparation for the construction phase and future mining operations.

During this quarter, Eurobattery Minerals chose not to renew its exploration licenses for seven assets in Sweden, focusing its resources on more advanced projects. The company also entered into a partnership with the Research Center for Smart Exploration led by Uppsala University in Sweden. In November, a SEK 29.3 million capital increase and a SEK 5.0 million convertible bond issuance were decided. In December, an Extraordinary General Meeting approved various proposals related to rights issuance.

The key financial indicators for the fourth quarter show a net revenue of SEK 0 and a cash flow from operating activities of SEK 8,906 thousand. For the full year 2023, net revenue also amounted to SEK 0, with a cash flow from operating activities of SEK 1,253 thousand.

Following this period, in January, the company announced the design process for the concentration plant of its Hautalampi battery minerals mining project and the final results of the rights issue, raising approximately SEK 22.6 million.