Year-end report for the full year 2019
Arctic Mineral AB is focusing on mineral exploration in Finland, following the acquisition of Norrbotten Exploration AB in 2017.
Arctic Minerals is focusing on areas in central and northern Finland where the Company considers represent excellent potential for the discovery of new copper, zinc and gold deposits, including battery metals. The exploration in Finland is done with the fully owned subsidiary Norrbotten Exploration AB as operator.
Currency SEK, MSEK, is Swedish Kronor (SEK)
Second Half (July - December 2019)
· Capitalized exploration costs for the second half of the year amounted to
MSEK 0.8 (1.3)
· Profit after tax for the second half of the year MSEK -4.6 (-1.6)
· Earnings per share for the second half of the year amounted to
SEK -0.06 (-0.02)
Full Year (January - December 2019)
· Capitalized exploration costs for the full year amounted to MSEK 2.2 (2.3)
· Profit after tax for the full year amounted to MSEK -6.6 (-2.7)
· Earnings per share for the full year amounted to SEK -0.08 (-0.04)
· Equity per share at the end of the period amounted to SEK 0.72 (0.89)
Significant events during the second half of 2019
- Arctic Minerals AB (publ) on July 15, 2019 completed a directed issue of 25,000,000 shares, corresponding to approximately 27.4 percent of the share capital in the Company, to a limited group of previously informed
investors. The shares were paid in cash and the subscription price was 0.60 SEK per share and the issue gave the Company gross proceeds of MSEK 15 before costs, which amounted to MSEK 1,3.
- On August 8 an update was presented on the exploration for copper in the Peräpohja Schist Belt. Analyzes from samples taken in previous field work showed promising grades of copper, gold and silver. The best ore boulder contained 5.25 % copper, 0.4 gram per tonne of gold and 12 grams per tonne of silver.
- The Company announced on September 18 that it has from September 25 changed Certified Adviser to UB Securities Ltd.
- Arctic Minerals AB announced on October 24 that it has identified a new area with exploration potential for gold in northern Finland. The company has therefore applied for a reservation (for exploration) named Nutukka, covering 365 km2, approximately 100 km northeast of the town of Kittilä, and approximately 20 km southwest of the gold panning village Tankavaara in Finnish Lapland.
- On October 29 the company announced that drilling at its Vihanti, Finland zinc-copper-gold project will start in November. The mining authority has granted the necessary exploration permit Lampinsaari, which includes both the "Vihanti Deeps" and the "Kuuhkamo" drill targets.
- The company announced on November 25 that it has been granted one more exploration permit in Vihanti. The granted Vilminko exploration permit, allows the company to carry out the planned drilling in the Vilminko drill target.
- Norrbotten Exploration AB on December 2 announced that the Company has applied for a new reservation in northern Finland.Company has identified a new area with exploration potential for platinum group elements (PGE) and chromite. Application for a reservation ("Paasivaara"), covering 8 km2, was filed on December 2. The reservation is located approximately 15 km northeast of the city of Kemi, Finland.
- December 13 the company announced that drilling at Vihanti has started in the three earlier announced three drill targets, "Kuuhkamo", "Vilminko" and "Vihanti Deeps".
Important events after the period ending December 31, 2019
- January 21 Arctic Minerals informed that it has signed an earn-in and joint venture agreement with Rio Tinto Mining & Exploration Ltd, a subsidiary of the Rio Tinto Group, one of the world's largest mining companies. The contracting party for Arctic Minerals is the subsidiary Norrbotten Exploration AB, the holder of the exploration reservations and exploration permits in the Peräpohja region in southwestern Finnish
- Lapland. The agreement is subject to the completion of satisfactory due diligence by Rio Tinto.
- The Company on February 17 announced that 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 continues as Director of the Board. Jonatan will take up his position from March 1, 2020.
- The Company is not a mining company nor aims at opening mines. The Company has decided to start a market research concerning a possible selling of the Bidjovagge gold-copper-project in Northern Norway.
The Annual General Meeting will be held on Tuesday, May 26, 2020. The Annual Report for full year 2019 will be held on the Company's website from Tuesday, May 5, 2020.
Interim report for the period January - June 2020 will be released on Thursday, August 27, 2020.
UB Securities Ltd, of Helsinki, Finland, (www.unitedbankers.fi) is the Company's Certified Advisor on Nasdaq First North Growth Market, Stockholm.
The company's shares are listed on Nasdaq First North Growth Market, Stockholm under the trade designation "ARCT".
This year-end report has not been audited by the company's auditor.
For full report, see attached document.
Stockholm February 27, 2020.
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
Arctic Minerals AB is a Swedish company focusing on exploration for copper, zinc, gold and cobalt and other battery metals in Finland through its subsidiary Norrbotten Exploration AB. At present the subsidiary has exploration permits in the Raahe-Ladoga ore belt of central Finland, and has applied for an exploration permit in the Peräpohja schist belt in northern Finland. In addition, the subsidiary has exploration reservations in the Peräpohja schist belt, in the Kiiminki schist belt northeast of Oulu, Paasivaara northeast of Kemi and in Central Lapland. Arctic Minerals AB also owns, through another subsidiary, Arctic Gold AB, mineral rights to the closed Bidjovagge gold-copper mine in northern Norway.
This information is information that Arctic Minerals AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (EU) 596/2014 and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 08.30 on February 27, 2020.
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 har nöjet att informera att ett samarbetsavtal (Joint Venture) har ingåtts med Rio Tinto Mining & Exploration Ltd, ett dotterbolag inom Rio Tinto Group, ett av världens största gruvbolag. Avtalspart för Arctic Minerals är dotterbolaget Norrbotten Exploration AB, som är operatör för bolagets kopparprospektering i Peräpohja-området i södra finska Lappland. En förutsättning för Rio Tintos godkännande av avtalet är ett positivt resultat av en due diligence.
Arctic Minerals AB is pleased to announce that it has signed an earn-in and joint venture agreement with Rio Tinto Mining & Exploration Ltd, a subsidiary of the Rio Tinto Group. Rio Tinto is one of the world's largest mining companies. The agreement concerns Artic Minerals' copper exploration project in the Peräpohja region of southern Finnish Lapland. The exploration is carried out by Arctic Minerals' wholly owned subsidiary, Norrbotten Exploration AB, which is holder of the exploration reservations and exploration permits. The agreement is subject to the completion of satisfactory due diligence by Rio Tinto.
Arctic Minerals AB har nöjet att informera att kärnborrningen i Vihanti-området har påbörjats denna vecka. I området skall kärnborrning utföras i tre borrobjekt; Kuuhkamo, Vilminko och Vihanti Deeps. Kärnborrningen har nu påbörjats i det första objektet, Kuuhkamo.
Arctic Minerals AB is pleased to announce that drilling at its Vihanti, Finland zinc-copper-gold project, has commenced this week. The Vihanti project includes three drill targets, Kuuhkamo, Vilminko and Vihanti Deeps. Drilling has now commenced at the first target, Kuuhkamo.
Arctic Minerals AB (Nasdaq First North Growth Market, Stockholm ("ARCT") har nöjet att informera att bolaget har identifierat ett nytt område med prospekterings-potential för platinagruppens element (PGE) och kromit i norra Finland. Koncernens dotterbolag Norrbotten Exploration AB har därför till Tukes, myndigheten för mineralrättigheter i Finland, lämnat en ansökan om ett förbehåll för prospektering, täckande ett område på 8 km2. Området ligger ca 15 km nordost om staden Kemi.
Arctic Minerals AB (Nasdaq First North Growth Market, Stockholm ("ARCT") is pleased to announce it has identified a new area with exploration potential for PGE (platinum group elements) and chromite in northern Finland. Arctic Minerals' subsidiary, Norrbotten Exploration AB, has therefore applied to Tukes, the authority in charge of mineral rights in Finland, for an exploration reservation covering 8.0 km2. The new reservation application, "Paasivaara", is located approximately 15 km northeast of the city of Kemi, Finland.
Arctic Minerals AB