Second quarter 2019 (April-June 2019)
- Exploration and evaluation costs for second quarter amounts to MSEK 2.0 (5.4)
- After-tax profit for second quarter amounts MSEK -2.0 (-5.6)
- Profit per share for second quarter amounts SEK -0.12 (-0.45)
First six months 2019 (January-June 2019)
- Exploration and evaluation costs for second quarter amounts to MSEK 4.1 (6.4)
- After-tax profit for second quarter amounts MSEK -4.2 (-6.7)
- Profit per share for second quarter amounts SEK -0.25 (0.54)
Significant events in the reporting period
- Permitting work for Stekenjokk and Levi has continued. In the hearing process the municipalities of Strömsund and Vilhelmina and the county of Jämtland have recommended approval of exploitation concession. The county of Västerbotten has asked for additional information from the Company
- The annual general meeeting has approved new articles of association and authorized the board to issue new shares or other financial instruments
Significant events after the reporting period
- Arbetet med tillståndsfrågor i Joma och Stekenjokk har fortgått. Komplettering ska vara ansvarig myndighet Bergsstaten tillhanda i slutet på september 2019
Financial reporting calendar
- Financial reporting for period January - September 2019 will be published on November 8, 2019
- Financial reporting for period January - December 2019 will be published on February 11, 2020
- Annual report for 2019 will be published on March 13, 2020
- Annual general meeting will be held on April 24, 2020
- Financial reporting for the period January - March 2020 will be published on May 9, 2020
For the full report, see attachment.
Stockholm August 9, 2019
For additional information please contact:
Peter Hjorth, CEO, Vilhelmina Mineral AB (publ) , tel. +46-725 38 25 25
See also: www.vilhelminamineral.com
Vilhelmina Mineral is a Swedish junior resource company with focus on copper and zinc projects in the Nordic countries. In Sweden the Company owns the Stekenjokk project in which approximately 7 million tons were produced between 1976 and 1988. According to estimates there are remaining indicated mineral resources of 7.4 million tons with grades of 1.17% Cu, 3.01% Zn and 47 g/ton Ag (cut-off 0.9% Cu). In Norway, Vilhelmina Mineral is co-owner in the Joma field in which some 11.5 million tons were previously produced between 1972 and 1998 with average grades of 1.5% Cu and 1.5% Zn. The Joma field (excluding Gjersvik) is estimated to hold approximately 5.7 million tons with grades of 1.55% Cu and 0.82% Zn (cut-off 0.8% Cu).
A total of 26,590,116 shares, corresponding to 94.7 per cent of the total number of shares in Vilhelmina Mineral AB (publ) ("Vilhelmina Mineral" or the "Company"), have been acquired by Nickel Mountain Resources AB (publ) ("Nickel Mountain"). The board of Vilhelmina Mineral therefore has decided to withdraw the application for public listing at NGM Nordic SME.
First Quarter 2020 (January - March)
- Revenue for first quarter amounts to MSEK 0.0 (0.0)
- Exploration and evaluation costs for first quarter amounts to MSEK 4.3 (2.1)
- After-tax profit for first quarter amounts to MSEK-4.3 (-2.2)
- Profit per share for first quarter amounts to SEK -0.19 (-0.13)
Through the rights issue (the "Rights Issue"), Vilhelmina Mineral AB (publ) ("Vilhelmina Mineral" or the "Company") will receive proceeds amounting to approximately SEK 22 million before deduction of costs related to the Rights Issue. 1,628,430 shares, corresponding to approximately 14.7 percent of the shares in the Rights Issue, were subscribed for by the exercise of subscription rights (including subscription undertakings) and 1,478,793 shares, corresponding to approximately 13.4 percent of the shares in the Rights Issue, were subscribed for without subscription rights. In addition, 7,941,387 shares, corresponding to approximately 71.9 percent of the shares in the Rights Issue were subscribed for by guarantors.
Vilhelmina Mineral AB (publ) ("the Company") has held an annual general meeting (the "AGM") on April 24, at which the current members of the board, Scott Moore, Neil Said, Les Kwasik, Jonas Dahllöf and Peter Hjorth, were re-elected. Further, the board has been authorized to issue up to 33,000,000 new shares or other financial instruments. The board of directors' complete proposals have previously been published and is available at the Company's website, www.vilhelminamineral.com.
Vilhelmina Mineral AB (publ) ("Vilhelmina Mineral" or "the Company") increases its ownership in Joma Gruver AS ("Joma Gruver") from 50% to 75% by injecting additional financing of 2.5 MNOK. Further, this capital injection will make grants of the same amount accessible from Norwegian institution Innovasjon Norge AS ("Innovasjon Norge") and the County of Trøndelag. Total financing of 5 MNOK will deployed in progressing projects including development of the regulatory plan which is a key element in the Norwegian permitting process. Further, an updated mineral resources estimate will be made for Joma and Stekenjokk in compliance with international standards (NI 43-101 or JORC) as well as a preliminary economic assessment for these projects.
Since the Extraordinary General Meeting in Nickel Mountain Resources AB (publ) ("Nickel Mountain") today has approved the transaction through which more than 90 percent of the shares in Vilhelmina Mineral AB (publ) ("Vilhelmina Mineral" or the "Company") are transferred to Nickel Mountain, the Board of Directors in Vilhelmina Mineral intends to withdraw its listing application at NGM Nordic SME. Furthermore, the Board of Directors in Vilhelmina Mineral has, based on the authorization from the Annual General Meeting on May 3, 2019, resolved upon a preferential rights issue of shares of in aggregate approximately SEK 22 million (the "Rights Issue") and a directed share issue to be paid by way of set-off of approximately SEK 1 million (the "Set-Off Issue").
The shareholders in Vilhelmina Mineral AB (publ), reg. no 556832-3876, are hereby invited to participate in the Annual General Meeting to be held on Friday, April 24, 2020 at 4 p.m. in the Company's premises at Brahegatan 29 in Stockholm. Registration to the Annual General Meeting starts at 3.30 p.m.
Vilhelmina Mineral AB (publ) ("Vilhelmina Mineral") announces that Nickel Mountain Resources AB (publ) (" Nickel Mountain ") today has entered into an agreement with owners of 92.5 % of the shares in Vilhelmina Mineral to acquire their shares against payment in newly issued shares in Nickel Mountain. Before the transaction is completed, Vilhelmina Mineral will be financed through a rights issue of SEK 23 million, which is 100% covered by guarantees and subscription obligations. In addition, Vilhelmina Mineral has entered into an agreement for additional financing of approximately SEK 3.3 million through Norwegian regional funds. The affair with Nickel Mountain requires, among other things, the approval of an Extraordinary General Meeting of Nickel Mountain.
Fourth quarter 2019 (October-December 2019)
- Revenue for fourth quarter amounts to MSEK 0.0 (0.0)
- Exploration and evaluation costs for fourth quarter amounts to MSEK 2.9 (3.3)
- After-tax profit for fourth quarter amounts MSEK -2.9 (-3.3)
- Profit per share for fourth quarter amounts SEK -0.17 (-0.22)
Full year 2019 (January-December 2019)
- Revenue for full year amounts to MSEK 0.0 (0.0)
- Exploration and evaluation costs for full year amounts to MSEK 8.4 (11.0)
- After-tax profit for first nine months amounts MSEK -8.5 (-11.3)
- Profit per share for first nine months amounts SEK -0.51 (-0.84)