Report for the first half year (January-June) 2019
First half-year (January - June) 2019
- The profit after taxes for the first half year 2019 was MSEK - 1.9 (- 1.1).
- The earnings per share (EPS) for the first half year was SEK -0.03 (-0.02).
- Equity per share at the end of the period was SEK 0.86 (0.93).
- The cash balance at end of the period amounted to MSEK 3.2 (9.6).
Main events and progress during first half year 2019
- January 14 Arctic Minerals in an exploration update announced that Zambian-style copper mineralization had been discovered in the Peräpohja Schist Belt in SW Finnish Lapland. In the geological fieldwork carried out in the summer and autumn of 2018 copper was found in a number of locations, together with lesser amounts of silver and gold. The company's main exploration target in Peräpohja is a type of mineralization called "SSC" (Stratiform Sediment-hosted Copper), typical of that found in the Zambian Copper Belt. As the nature of these occurrences supported the company's view that the Peräpohja Schist Belt bears strong resemblance to the Zambian Copper Belt, Peräpohja represents a highly attractive target for further exploration, and the management therefore planned a follow-up program for 2019.
- Arctic Gold AB, the subsidiary possessing the mineral rights in Norway, met the minister in charge of exploration and mining in a seminar in Oslo in February. Prior to the seminar the company had in a letter briefed the minister on the difficult political/legal situation - conflicts in legislation - and the municipality has refused to handle the application by the company. The minister at the seminar orally and in a letter in May answered the company.
- March 1 the company announced that the subsidiary Norrbotten Exploration AB had applied for an exploration permit in the Vihanti area, in Central Finland, and had been granted two more reservations in the Peräpohja region, in Finnish Lapland. Arctic Minerals had earlier announced that it has identified its first diamond drill targets at Vihanti. The company's Vihanti reservation is located to the south of the old Vihanti mine 40 km south-east of Raahe/Brahestad.
- March 26 Arctic Mineral announced that the company has identified a third drill target in the Vihanti area, has contracted ground surveys and has applied for a second exploration permit in Vihanti, Finland. Arctic Minerals had earlier announced that it has identified its first two diamond drill targets at its Vihanti, Finland exploration reservation. The third drill target is named Kuuhkamo.
- April 29 Arctic Mineral announced that new exploration potential for cobalt and other battery metals had been in identified in the Kiiminki region of Finland and had also identified a first drill target. The company announced that has applied for an exploration reservation covering 802 km2 in the Kiiminki Schist Belt, located to the northeast of the city of Oulu, Finland. The principal target metals in Kiiminki are cobalt and copper. The area also has interesting potential for zinc, lead and for gold.
- Based on the positive results in the field season 2018, the company's exploration team, including two summer students, started the exploration in the Peräpohja region in May.
Events after the reporting period (ending June 30, 2019)
- Arctic Minerals July 15 announced that the Board of Directors has, based on the issue authorization decided by the AGM in May 2019, and after a completed book building procedure, resolved on a directed issue of a maximum of 25,000,000 shares at a subscription price of SEK 0.60 per share, giving the Company gross proceeds of MSEK 15. The issue was directed to certain institutional investors and to a limited number of qualified private investors. Mangold Fondkommission AB and United Bankers Oyj have acted as financial advisors in relation to the successful issue.
- Arctic Minerals AB on 8 August announced an update on its exploration for copper in the Peräpohja Schist Belt in northern Finland. Based on the promising results from 2018, sampling of outcrops and boulders started in mid-May, from mid-June also soil sampling (A-zone). The first batches of the latter samples have been assayed: several contain anomalous copper grades, and sometimes also anomalous grades of lead and zinc. The sampling will continue till the end of the field season after which conclusions can be drawn. More mineralized quartzite boulders have also been found. Many of them contain anomalous contents of copper, and as a new feature, a boulder and an outcrop also contain galena (lead).
About Arctic Minerals AB (publ)
The Arctic Minerals Group consists of the parent company Arctic Minerals with the two subsidiaries Norrbotten Exploration AB and Arctic Gold AB.
Arctic Minerals AB, the parent company, has previously been active in the area of exploration and mining development. As of autumn 2017, however, the company has most recently served as the managing and coordinating parent company.
The Group currently has two business areas. Norrbotten Exploration AB conducts active exploration activities in Finland. Arctic Gold AB holds mineral rights in the Bidjovagge field in Finnmark in northern Norway.
Next reporting date
Report for the second half year as well as the full year 2019 will be announced on February 25, 2020.
For complete report see attached file.
Stockholm on August 30, 2019
This report has not been audited by the company's chartered accountant.
Partner Fondkommission (telephone +46 31-761 22 30, www.partnerfk.se) is Arctic Mineral's Certified Adviser on Nasdaq First North, Stockholm.
The company's shares are listed on Nasdaq First North, Stockholm under the trade name "ARCT".
For further information, see the Company's website at www.arcticminerals.se or contact:
Krister Söderholm, CEO
(+358) 50 542 3113
Peter Walker, Chairman
+44 771 722 3909
About Arctic Minerals AB
Arctic Minerals AB is a Swedish company focusing on exploration for copper, zinc and gold in Finland. At present, the company has exploration reservations totaling 1,192 km2 in central Finland in the so-called Raahe-Ladoga ore belt, where also two exploration permits covering 24 km2 have been applied for. In southern Finnish Lapland, in the so-called Peräpohja schist belt the company has five reservations covering 1,282 km2 and one exploration permit application has been filed. Including the 802 km2 reservation in the Kiiminki region, the company possess reservations totaling 3,280 km2. In addition, the company owns the mineral rights to the closed Bidjovagge copper-gold mine in Norway.
This information is information that Arctic Minerals AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication at 08.30 on August 30, 2019.
Styrelsen i Arctic Minerals AB (publ) ("Arctic Minerals", "Bolaget" eller "Moderbolaget" och med dess dotterbolag "Koncernen") (Styrelsen) avger härmed rapport för perioden januari - juni 2020.
The Board of Directors of Arctic Minerals AB (publ) ("Arctic Minerals", the "Company" or the "Parent company" and together with its subsidiaries the "Group") (the "Board") hereby submits an interim report for the period January - June 2020.
Arctic Minerals uppdaterar härmed om pågående prospektering i norra och mellersta Finland. Fältarbetet under 2020 har fokuserat på Bolagets guldprojekt Nutukka i mellersta finska Lappland, på batteri-metaller i Kiiminki-projektet i mellersta Finland och på prospektering efter koppar i Peräpohja skifferbälte i norra Finland. Kopparprospekteringen i Peräpohja genomförs inom ramen för det joint venture-avtal som ingåtts med det världsledande gruvbolaget Rio Tinto.
Inför höst- och vintersäsongen 2020/2021 planerar Arctic Minerals att fortskrida med fältarbeten vid guldprojektet Nutukka samt även att utföra geofysiska markmätningar i Kiiminki-området i syfte att välja optimala platser för kärnborrning efter batterimetaller. I Peräpohjas joint venture-projekt utförs geofysiska mätningar också för att välja optimala borrplatser i tidigare påvisade borrobjekt, liksom att identifiera potentiella nya borrobjekt.
Arctic Minerals is pleased to issue an update on its exploration progress in northern and central Finland. The 2020 exploration field campaign has been focused on the Company's gold project in Nutukka in central Finnish Lapland, battery metals in the Kiiminki project in central Finland as well as the exploring for copper in the PeräpohjaSchist Belt in northern Finland. The exploring for copper in Peräpohja is carried out through the joint venture agreement with the world leading mining group Rio Tinto.
For the fall and winter season 2020/2021, Arctic Minerals in now targeting further field work on the Nutukka gold project and also ground geophysics in Kiiminki in order to optimise locations for drilling for battery metals. In the Peräpohja copper Joint Venture project, further geophysical surveys are being carried out, with the aim of optimising the location of previously identified drill targets as well as identifying potential new targets.
Arctic Minerals AB (publ) ("Bolaget") avhöll den 24 juni 2020 årsstämma ("Stämman") på Skeppargatan 27 i Stockholm.
Arctic Minerals AB (publ) (the "Company") held its Annual General Meeting (the "AGM") on June 24, 2020 at Skeppargatan 27 in Stockholm.
Styrelsen för Arctic Minerals AB, org. nr 556569-3602, ("Bolaget") kallar till årsstämma onsdagen den 24 juni 2020, kl. 14.00 Skeppargatan 27 4tr, 114 52 Stockholm.
The Board of Arctic Minerals AB, org.no. 556569-3602, ("The Company") convenes the Annual General Meeting (AGM) on Wednesday, June 24, 2020 at 14.00, Skeppargatan 27 4tr, 114 52 Stockholm.
Arctic Minerals erhåller bekräftelse om positivt resultat från Rio Tintos due diligence för joint venture-avtalet
Rio Tinto Mining and Exploration Limited, ett dotterbolag inom Rio Tinto-koncernen, har bekräftat till Arctic Minerals att deras due diligence beträffande det ömsesidiga joint venture-avtalet nu är slutförd med ett positivt resultat.
Arctic Minerals receives confirmation of satisfactory due diligence from Rio Tinto on joint venture agreement
Rio Tinto Mining and Exploration Limited, a subsidiary of the Rio Tinto Group, has confirmed to Arctic Minerals the completion of a satisfactory due diligence for the mutual joint venture agreement between the two companies.
Arctic Minerals publicerar årsredovisning för 2019 innehållandes en Upplysning av särskild betydelse i revisionsberättelsen avseende Bidjovagge-projektet.
Arctic Minerals' Annual Report for 2019 is now published (in Swedish). It is done so containing an Emphasis of matters in the Audit Report regarding the Bidjovagge project.
Styrelsen i Arctic Minerals AB har beslutat att skjuta upp årsstämman 2020 till ett senare datum.
The Board of Directors of Arctic Minerals AB has resolved to postpone the Annual General Meeting 2020 until a later date.
Arctic Minerals uppdaterar härmed om pågående prospektering i norra och mellersta Finland. Under hösten 2019 och vintern 2020 har bolagets prospektering inriktats mot kärnborrning i zink-koppar-guld-området i Vihanti i mellersta Finland såväl som på prospektering efter koppar i Peräpohja skifferbälte i norra Finland. I Peräpohja sker prospekteringen efter koppar inom ramen för det Joint Venture avtal som ingicks i januari 2020 med den världsledande gruvkoncernen Rio Tinto. Under resterande delen av 2020 kommer Arctic Minerals prospekteringsarbete även att inrikta sig mot sökandet efter batterimetaller i Kiiminki i mellersta Finland samt efter guld i Nutukka i mellersta Lapplands grönstensbälte.
Arctic Minerals is pleased to issue an update on its exploration progress in northern and central Finland. The 2019/2020 autumn and winter campaign has been focused towards drilling in the zinc-copper-gold Vihanti area of central Finland as well as the exploring for copper in the Peräpohja Schist Belt in northern Finland. The exploring for copper in the Peräpohja is carried out through the January 2020 joint venture agreement with the world leading mining group Rio Tinto. For 2020, additional exploration is targeted for the battery metals project in Kiiminki in central Finland and gold at Nutukka in the Central Finnish Lapland Greenstone Belt.
Styrelsen i Arctic Minerals AB (publ) har utsett Jonatan Forsberg till ny VD för koncernen. Han ersätter Krister Söderholm, som går i pension, men kvarstår som styrelseledamot. Jonatan tillträder som VD den 1 mars 2020.
The Board of Directors of Arctic Minerals AB (publ) has appointed Jonatan Forsberg as new CEO of the Company. He replaces Krister Söderholm, who will retire as CEO but continue as Director of the Board. Jonatan will take up his position from March 1, 2020.
Arctic Minerals AB
Marknadsplats: Nasdaq First North Growth Market
2021-02-25 Bokslutskommuniké 2020