Financial results for the Group for Year to date January 1 - December 31, 2019
Danderyd February 20, 2020
- The closing balance of cumulative capitalized exploration assets amounted to 303,438 (59,212) KSEK, corresponding to an increase of 412%.
- Total shareholders’ equity was 264,317 (65,412) KSEK, corresponding to an increase of 304%.
- Total assets at the end of the period was 333,291 (74,681) KSEK, corresponding to an increase of 346%.
- The cash at hand at the end of the period was 19,098 (1,385) KSEK.
- Result of the period amounted to -14,552 (-459) KSEK, to significant extent due to the intensified project development and to one-offs regarding the Viscaria acquisition and the rights issue. The corresponding period included a capital gain on NIO convertible of 8.2 MSEK.
- Result of the period per share was -0.03 (-0.00) SEK.
- The cash flow during the period was 17,713 (-26,901) KSEK.
Financial results for the Group for October 1 - December 31, 2019:
- Result of the period amounted to -3,595 (-5,048) KSEK.
- Earnings after tax per share were -0.01 (-0.02) SEK.
- The cash flow during the period was 3,234 (-952) KSEK.
Significant events during the period:
- Norrlandsfonden invests in Copperstone.
- Amortization of the remaining debt regarding Viscaria.
- Viscaria Drillings - VDD0201 returns 15m @ 0.73% Cu and 6m @ 1.45% Cu outside the Mineral Resource Boundary.
- First tranche with Yorkville fully settled.
- Copperstone recruits the Study Manager to Viscaria.
- Directed placement of 2.74 MSEK.
- The Supreme Administrative Court rules in favor of Copperstone and Sandberget 500.
- Directed placement of 13.5 MSEK in cash; Jörgen Olsson nominated Chairman.
Significant events after the period:
- Recruitment of Exploration Manager.
- Viscaria Mine Drilling and Results Update.
For further information, please contact Michael Mattsson (CEO) at +46(0)580-88890, +46(0)705 739 777, or refer to Copperstone webpage: .
This press release contains insider information which Copperstone Resources AB (publ) is obliged to publish according to the EU market abuse regulation (MAR). The information was delivered by the above-mentioned contact for publishing February 20, 2020 at 07:10 CET. Please see attached pdf for the complete year-end report.
About Copperstone
Copperstone is a public company trading as COPP B on Nasdaq First North Growth Market in Stockholm, Sweden. The Certified Adviser is Augment Partners AB, , 2. The Company is focused on base and precious metal exploration in the vicinity of the internationally recognized mining districts of Kiruna and the Skellefte-field in northern Sweden. In addition, the Company also owns an exploitation concession in the Bergslagen mining region, in central Sweden.
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