Stockholm, 23 May 2025. Northgold AB (Nasdaq First North Growth Market: "NG", "Northgold" or the "Company") today published its Interim report for the first quarter 2025.
Financial highlights of first quarter 2025 (Group, consolidated)
- Net sales amounted to KSEK 0 (Q1 2024: KSEK 0).
- Operating profit/loss after financial items totalled KSEK -3,501 (Q1 2024: KSEK -2,533).
- Earnings per share after financial items amounted to SEK -0.1 (Q1 2024: SEK -0.2).
- Cash flow from operating activities was KSEK -1,417 (Q1 2024: KSEK -1,779).
Significant events during the first quarter
- Northgold announced positive gold and copper assay results from the four drill holes completed in 2024 at its flagship Kopsa gold and copper project in central Finland (9 January, 2025).
- The Company announced its 2025 Mineral Resource Estimate showing that Kopsa gold-copper resource grows 9% to 814,800 gold-equivalent ounces, within 23.2 million tonnes grading 1.09 grams per tonne gold-equivalent (20 February, 2025).
Significant events after the first quarter
- Northgold entered into a binding agreement to sell all shares in its Finnish subsidiaries, Fennia Gold Oy and Lakeuden Malmi Oy, to Nordic Resources Limited. The total transaction value is approximately 34 MSEK, consisting of 70,000,000 newly issued shares in Nordic Resources and SEK 2,000,000 in cash (10 April, 2025).
- Northgold announced the outcome of the exercise of warrants of series TO 2 (16 April, 2025).
- An EGM of Northgold decided on the sale of all shares in its Finnish subsidiaries, Fennia Gold Oy and Lakeuden Malmi Oy, to Nordic Resources Limited (22 May, 2025).
- An EGM decided on the liquidation of the Company which will take effect on the date on which the sale of the Company's subsidiaries has been completed and the Swedish Companies Registration Office has appointed the liquidator (22 May, 2025).
For the full report, please download the attached PDF. The full report is also available at https://northgoldab.com/financial-reports/.
Further information
Seppo Tuovinen, CEO of Northgold AB
ir@northgoldab.com
Website: www.northgoldab.com
Follow us: www.linkedin.com/company/northgold
Northgold is a Swedish-listed gold exploration and development Company focused on advancing multiple, co-located, resource-stage projects in the Middle Ostrobothnia Gold Belt (MOGB) of Central Finland, including the Kopsa Gold-Copper project, the Kiimala Trend Gold project, and the Hirsikangas Gold project. The Company strives to grow its gold mineral resources, make new gold discoveries, and ultimately extract gold from these under-explored areas in Central Finland.www.northgoldab.com. Augment Partners AB, tel. +46 8-604 22 55 info@augment.se, is acting as the Company's Certified Adviser.
This information is information that Northgold AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-05-23 09:35 CEST.
