28/08/2019 12:45:00

INTERIM QUARTERLY REPORT (Q2 19) APRIL TO JUNE 2019

Danderyd August 28, 2019

INTERIM QUARTERLY REPORT (Q2 19) APRIL TO JUNE 2019

Financial results for the Group for April 1 to June 30 2019:

  • Result of the period amounted to -4,722 (6,616) KSEK, including non-recurring advisory fees relating to the Viscaria acquisition. In 2018 the netting of a receivable in NIO towards shares and a convertible generated an 8.2 MSEK profit.
  • Earnings after tax per share were -0.01 (0.03) SEK
  • The cash flow during the period was -429 (-8 061) KSEK
  • The closing balance of cumulative capitalized expenditure for exploration amounted to 289,670 (49,117) KSEK, corresponding to an increase of 490%
  • The liquidity at the end of the period was 6,485 (7,765) KSEK

Financial results for the Group for Year to date as of June 30 2019:

  • Result of the period amounted to -6,675 (5,558) KSEK
  • Result of the period per share was -0.02 (0.02) SEK
  • Total assets at the end of the period was 306,053 (77,323) KSEK
  • The cash flow during the period was 5,100 (-20,521) KSEK

Significant events during the period:

  • Divests the shareholding in NIO, receives 4.5 MSEK; retains convertibles of 7.1 MSEK
  • Kati Oy signed to diamond drill 8,000 metres at Viscaria in Kiruna

Significant events after the period:

  • Copperstone’s rights issue fully subscribed; improves the financial position by 24 MSEK
  • The Administrative Court rejects the Sandberget 500 Appeal

“Copperstone’s growth story continues to develop. Our copper resource base has increased by almost 1,400 percent in a mere year, organic as well as acquired. I am looking very much forward to the upcoming drill campaign at Viscaria. Furthermore, for the next 18-24 months we foresee mine planning as well as new discoveries.”, comments CEO Michael Mattsson.

The complete Q2 19 report is attached. For further information, please contact Michael Mattsson (CEO) at +46(0)580-88890, or michael.mattsson@copperstone.se or refer to Copperstone webpage: www.copperstone.se.

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 August 28, 2019 at 13:45 CET.

About Copperstone

Copperstone is a public company trading as COPP B on NASDAQ First North (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.

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