COPPERSTONE RESOURCES AB: 1 JANUARY 2017 TO 30 SEPTEMBER 2017 NINE MONTH AND QUARTERLY REPORT (Q3)

Published 23 November 2017

Copperstone Resources AB (“Copperstone” or “the Company”) is pleased to announce the nine month and quarterly report (Q3) for the Company.

Financial results for the period:

  • Net revenue for the period was 11 (24) KSEK, of which SEK 0 (0) KSEK was for the third quarter 2017.
  • Profit before taxes for the period amounted to -6,026 (-5,015) KSEK, of which -962 (-1,702) KSEK is for the third quarter.

             

  • Earnings after tax per share were -0.03 (-0.04) SEK, and for the third quarter 0.00 (-0.01) SEK.

             

  • Net change in liquidity through the period was 1,606 (-978) KSEK, of which 351 (-3,891) KSEK is for the third quarter.

             

  • Total assets at the end of the period was 50,760 (41,419) KSEK and liquid assets amounted to 4,335 (973) KSEK.
     
  • At the end of the period, total capitalized exploration costs amounted to 35,694 (27,362) KSEK. During the period, 9,204 (4,880) KSEK was capitalized of which 2,423 (2,136) KSEK was capitalized during the third quarter.

             

Significant events during the period

  • Technical Report filed on the deep core drilling campaign at Svartliden-Eva.
     
  • Chris McKnight appointed as CEO of Copperstone as from September 1.
     
  • Integrated NSAMT / Mag geophysical survey commences.

             

Significant events after the period

             

  • Brokered directed issue of 30MSEK, dilution 6.6%.
     
  • Award of Eva k No.1 exploitation concession, subject to objection period.

For detailed report see attached.

For further information, please contact Chris McKnight (CEO) at +46(0)580-88890, or info@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 November 23, 2017 at 1500 CET.

About

Copperstone Resources AB is a public company trading as COPP B on NASDAQ First North (Stockholm). The Certified Adviser is Augment Partners AB. The Company is focused on base and precious metal exploration in the vicinity of the internationally-recognized mining region of the Skellefte-field in northern Sweden.  The Copperstone project is situated on four contiguous exploration permits in Norrbotten County (Sandberget 100 (8074ha), Sandberget 200 (19ha), Sandberget 300 (19ha) and Svartliden 1001 (444ha). In addition the Company owns one exploitation concession within the same area, namely Svartliden k no. 1 (36ha) and an approved application for Eva k no. 1 (34ha) subject to an objection period.  The Company also owns the Tvistbogruvan k no. 1 (11ha) exploitation concession in the Bergslagen mining region of central Sweden.  Quoted surface areas are approximate to the nearest hectare. All exploration permits and exploitation concessions are 100% owned, either directly or through a subsidiary.

Forward-looking Statement

News releases, presentations and public commentary made by the Company, and its Officers, may contain certain statements and expressions of belief, expectation or opinion which are forward-looking statements, and which relate, inter alia, to interpretations of exploration results to date and the Company’s proposed strategy, plans and objectives or to the expectations or intentions of the Company’s Directors. Such forward-looking and interpretative statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such interpretations and forward-looking statements. Accordingly, the reader should not rely on any interpretations or forward-looking statements; and save as required by the exchange rules of NASDAQ First North (Stockholm) for listed companies or by applicable laws, the Company does not accept any obligation to disseminate any updates or revisions to such interpretations or forward-looking statements. The Company may re-interpret results to date as the status of its assets and projects changes with time expenditure, metals prices and other affecting circumstances.

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