Copperstone Resources AB: Interim Quarterly Report (Q318) July 1st 2018 to September 30th 2018
Published 22nd November 2018
Copperstone Resources AB (“Copperstone” or “the Company”) is pleased to announce the Interim Quarterly Report (Q318) for the Company. A brief summary of the report follows:
Financial results for the Group for July 1st to September 30th 2018:
Result before taxes amounted to -955 (-962) KSEK.
Earnings after tax per share were 0.0 (-0.0) SEK.
The cash flow during the period was -5,428 (351) KSEK.
Financial results for the Group for Year to date as of September 30th 2018:
Result before taxes amounted to 4,589 (-6,026) KSEK.
Earnings after tax per share were 0.02 (-0.03) SEK.
The profit for 2018 is due to the netting of receivable in NIO for shares and a convertible. The receivable was acquired by Copperstone at a discount to nominal value in 2016, generating a profit of 8.2 MSEK at its finalization before the listing of NIO at Nasdaq First North.
The closing balance of cumulative capitalized expenditure for exploration amounted to 56,483 (35,694) KSEK.
Total assets at the end of the period was 77,387 (50,760) KSEK.
The cash flow during the period was -25,949 (1,606) KSEK.
The liquidity at the end of the period was 2,337 (4,335) KSEK.
Significant events during the period:
Letter of Intent signed for the acquisition of the Viscaria copper project; Sunstone Metals Ltd new main owner.
The Company announced Drilling Campaign Accomplished.
Drillhole COS18364 returns 103m with 0.42% copper mineralization east of Granliden Hill.
Large scale mineral resource potential at Granliden/Svartliden.
Significant events after the period:
Award of EVA K NO. 1 Exploitation Concession confirmed by the Swedish government.
Viscaria copper project: Share sale and purchase agreement signed.
Notice of extra general meeting sent out for 27th of November.
Norrlandsfonden to convert 1.5 MSEK into Copperstone shares.
For further information, please contact Chris McKnight (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 22nd November 2018 at 08:55 CET.