Press Releases

Vilhelmina Mineral AB (publ) increases ownership to 75% in Joma Gruver AS

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.

In 2017, Vilhelmina Mineral founded a joint venture company named Joma Gruver AS together with regional development company Joma Näringspark AS. The objective of this collaboration is to develop the copper and zinc assets in the Joma field located in the municipality of Røyrvik in the county of Trøndelag in Norway. Further, the goal is to identify further mineral resources and to re-start mining operations. In Joma some 11.5 million tons of ore with average grades of 1.5% copper and 1.5% zinc were produced between 1972 and 1998 by previous operator Grong Gruber AS, employing some 130 staff. Remaining measured and indicated resources are estimated to 5.7 million tons containing 1.55% copper and 0.82% zinc (using cut-off grade 0.8% Cu). In parallel, the Swedish project Stekenjokk will be developed were approximately 7 million tons were produced between 1976 and 1988 and in which remaining indicated mineral resources are estimated to 7.4 million tons with grades of 1.17% Cu, 3.01% Zn and 47 g/ton Ag (cut-off 0.9% Cu).

According to the joint venture agreement, Vilhelmina Mineral has the right to gradually increase ownership in Joma Gruver AS up 100% by injecting capital over time. At this stage, Vilhelmina Mineral increases ownership from 50% up to 75% by providing 2.5 MNOK, which simultaneously makes grants of the 2.5 MNOK accessible from Norwegian institution  Innovasjon Norge and the County of Trøndelag.This financing of 5 MNOK in total will be used for project development, entailing among other things a regulatory plan which is an integral part of the Norwegian permitting process and includes a detailed plan for the mine area and several socio economic and environmental impact assessment projects. This financing will also be used for an updated mineral resources estimate for Joma and Stekenjokk projects in compliance with international standards (NI 43-101 or JORC), as well as a preliminary economic assessment.

Note
Vilhelmina Mineral AB (publ) is obliged to publish this information under the EU Market Abuse Regulation and Securities Act.  The information was provided by the responsible person below, for publication on April 6, 2020 at 8 PM.

For additional information please contact:

Peter Hjorth, CEO, Vilhelmina Mineral AB (publ), tel. +46-725 38 25 25
Email: info@vilhelminamineral.com
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).

2020-07-06
Regulatory

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.

2020-05-08
Regulatory

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)
2020-05-05
Regulatory

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.

2020-04-24
Regulatory

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

2020-04-06

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.

2020-04-03
Regulatory

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").    

2020-03-23
Regulatory

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.

2020-03-09
Regulatory

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. 

2020-02-11
Regulatory

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)
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