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 2024.
First half year (January - June) 2024
- The Directorate of Mining for Norway has granted Arctic Minerals a prolongation of its extraction permits at the Bidjovagge gold-copper project in Norway. This means that all Arctic Minerals' extraction permits in Bidjovagge now are valid until December 2028.
- During the summer 2024 Arctic Minerals commenced the work with a new exploration program in Bidjovagge by submitting detailed plans for the exploration program to the Directorate of Mining for Norway. The Company has also met with representatives for the Norwegian government department for Trade, Industry and Fisheries to discuss the Bidjovagge project.
- Profit after tax for the period was MSEK -1.7 (-5.9).
- Earnings per share for the period amounted to SEK -0.01 (-0.04).
- Cash and bank position amounted to MSEK 8 (6.7) at end of period.
Significant events during the first half year of 2024
- On January 8, 2024 Arctic Minerals announced, through a press release, that the Directorate of Mining for Norway has granted the Company a prolongation of its extraction permits at the Bidjovagge gold-copper project in Norway. This means that all Arctic Minerals' extraction permits in Bidjovagge now are valid until December 2028. For more information see, Bidjovagge gold-copper project (Norway).
- On April 9, 2024 Arctic Minerals announced, through a press release, that there have been positive political developments in Norway, that the Company considers very helpful for its Bidjovagge gold-copper project in Norway. Following these positive political developments, the Company started planning for a new exploration drilling program at Bidjovagge. During the summer 2024 Arctic Minerals commenced the new exploration program in Bijovagge by submitting detailed plans for the exploration program to the Directorate of Mining for Norway. The program is targeting the western limb and also the northern part of the geological "anticline" structure which hosts the Bidjovagge mineralisation. The Company has also during the summer met with representatives for the Norwegian government department for Trade, Industry and Fisheries to discuss the Bidjovagge project. For more information see, Bidjovagge gold-copper project (Norway).
Significant events after the period ending
- No significant events after the period ending.
Certified Advisor
UB Corporate Finance Oy in Helsinki, Finland, (www.unitedbankers.fi) is the Company's Certified Adviser on Nasdaq First North Growth Market, Stockholm.
Other
The Company's shares are listed on Nasdaq First North Growth Market, Stockholm under the trade designation "ARCT".
For further information
see the Company's website at www.arcticminerals.se or contact:
Risto Pietilä, CEO
(+358) 40 029 3217
risto.pietila@arcticminerals.se
About Arctic Minerals
Arctic Minerals is a Nordic mineral exploration company exploring for copper, gold and battery metals in the Nordics.
The information was submitted for publication, through the agency of contact person set out above, at 11.15 a.m. CEST on 29 of August, 2024.
