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Copperstone Resources AB: Interim Report July - September 2020

Copperstone Resources AB
·2-min read

Kiruna, November 20, 2020

JULY - SEPTEMBER 2020

  • Result of the period amounted to -7,239 (-4,282) KSEK.

  • Earnings after tax per share were -0.01 (-0.01) SEK

  • The cash flow during the period was -6,618 (9,379) KSEK

  • The assets of capitalized expenditure for exploration amounted to 325,712 (295,451) KSEK

  • The liquidity at the end of the period was 12,665 (15,864) KSEK

JANUARY - SEPTEMBER 2020

  • Result of the period amounted to -9,304 (-10,957) KSEK

  • Result of the period per share was -0.02 (-0.03) SEK

  • Total assets at the end of the period was 344,548 (321,133) KSEK

  • The cash flow during the period was -6,433 (14,479) KSEK

SIGNIFICANT EVENTS DURING THE PERIOD

  • Copperstone contracted Kati Oy and Arctic Drilling Company to diamond drill at Viscaria, Kiruna.

  • Copperstone recruited Anna Tyni as Site Manager.

  • Extraordinary General Meeting; Lars Seiz elected new Director.

SIGNIFICANT EVENTS AFTER THE PERIOD

  • Copperstone recruited meritorious Glenn Nilsson as Mining Manager.

  • Copperstone announced a rights issue of 160 MSEK; whereof 82 MSEK committed upfront.

  • Copperstone agrees to pre-pay Sunstone 26 MSEK regarding the additional purchase price at Environmental Permit at Viscaria, resulting in an equity realisation gain of 20 MSEK.

”The Viscaria Copper Project advances on multiple frontiers simultaneously, from recruitments of mining specialists to resource and exploration drillings, as well as an increased number of environmental study work streams. All of this put in context of a strong copper demand and market sentiment, based on the fact that copper is playing a crucial role in the energy transition from fossil fuels to renewables”, comments CEO Michael Mattsson.

For further information, please contact Michael Mattsson (CEO) at +46(0)705-739777, or michael.mattsson@copperstone.se or refer to Copperstone webpage: www.copperstone.se. The complete Q3 2020 report is attached. 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 November 20, 2020 at 08:30 CET.

About Copperstone - Copperstone is a public company trading as COPP B on NASDAQ First North Growth Market (Stockholm). The Certified Adviser is Augment Partners AB, info@augment.se, +46 8 505 65 172. 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.

Qualified Person - The technical information herein has been reviewed by the Qualified Person of the Company (QP) Thomas Lindholm M. Sc., GeoVista AB, Luleå.

Attachment