Danderyd May 14, 2019
Copperstone Resources AB (“Copperstone” or “the Company”) is pleased to announce a Business Review (Q1 2019) for the Company.
Group Highlights Q1-19 period (Q1-18):
- The capitalized investments in exploration assets increased 571% to 289,029 (43,068) KSEK.
- Shareholders’ equity increased 208% to 203,493 (65,996) KSEK.
- Avalon Minerals Viscaria AB has been merged into the Group.
- Result of the period amounted to -1,953 (-1,058) KSEK.
- Result of the period per share was -0.01 (-0.004) SEK.
- Total assets at the end of the period was 312,421 (70,494) KSEK.
- The cash flow during the period was 5,529 (-12,460) KSEK.
- The liquidity at the end of the period was 6,914 (15,826) KSEK.
Significant events during the Q119 period:
- Strengthening of the permission portfolio
- Acquisition of Viscaria completed – Sunstone Metals largest owner
“Copperstone is from this quarter and onwards including Avalon Minerals Viscaria AB into our financial accounts. It’s an extremely accretive acquisition, main reason being that our code-compliant copper resource base has increased by almost 1,400% since 2017. The strategy onwards is to develop these assets into cash flow in a sustainable manner, and explore for even more along the way.”, comments CEO Michael Mattsson.
The complete Q1 19 business review is attached. For further information, please contact Michael Mattsson (CEO) at +46(0)580-88890, or email@example.com 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 May 14, 2019 at 08:10 CET.
Copperstone is a public company trading as COPP B on NASDAQ First North (Stockholm). The Certified Adviser is Augment Partners AB, firstname.lastname@example.org, +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 and an exploration permit in the Bergslagen mining region, in central Sweden.
The technical information herein has been reviewed by the Qualified Person of the Company (QP) Thomas Lindholm M. Sc., GeoVista AB, Luleå.