Announcement • 8h
Gruvaktiebolaget Viscaria has completed a Follow-on Equity Offering in the amount of SEK 1.712948 billion. Gruvaktiebolaget Viscaria has completed a Follow-on Equity Offering in the amount of SEK 1.712948 billion.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 48,064,514
Price\Range: SEK 16.6
Security Name: Shares
Security Type: Common Stock
Securities Offered: 55,125,125
Price\Range: SEK 16.6 Announcement • Jun 17
Gruvaktiebolaget Viscaria has filed a Follow-on Equity Offering in the amount of SEK 1.7 billion. Gruvaktiebolaget Viscaria has filed a Follow-on Equity Offering in the amount of SEK 1.7 billion.
Security Name: Shares
Security Type: Common Stock New Risk • Jun 08
New major risk - Revenue and earnings growth Earnings have declined by 52% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 52% per year over the past 5 years. Shareholders have been substantially diluted in the past year (122% increase in shares outstanding). Minor Risk Less than 1 year of cash runway based on current free cash flow (-kr1.3b). Reported Earnings • Apr 20
Full year 2025 earnings released: kr0.83 loss per share (vs kr0.44 loss in FY 2024) Full year 2025 results: kr0.83 loss per share (further deteriorated from kr0.44 loss in FY 2024). Revenue: kr285.3m (down 14% from FY 2024). Net loss: kr109.1m (loss widened 126% from FY 2024). Production and reserves: Gold Number of mines: 1 (1 in FY 2024) Revenue is forecast to grow 58% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Metals and Mining industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Announcement • Mar 16
Gruvaktiebolaget Viscaria Appoints Charlotte Odenberger as Chief Operating Officer, Effective March 30, 2026 Gruvaktiebolaget Viscaria announced that Charlotte Odenberger has been appointed Chief Operating Officer (COO), effective March 30, 2026. Charlotte Odenberger has extensive experience from senior leadership positions in the Swedish mining industry, including her role as acting CEO of Zinkgruvan Mining AB, where she was responsible for production, organisational development and strategic operation’s direction. She has held strategic and operational leadership roles at companies including Lundin Mining and Björkdalsgruvan AB. Prior to her role as acting CEO of Zinkgruvan, she served as Plant Manager for the facility producing zinc, copper and lead concentrates, where she led 95 employees across production, processing, maintenance, water treatment and tailings management. She has also worked as Sustainability Manager with responsibility for environmental matters, permitting processes, safety and social performance, and has more than ten years’ experience in the mining industry’s most critical functions. Most recently, she held the role of Nordic Mining Business Development Lead at WSP, where she was responsible for developing the company’s mining operations across the Nordic region. Additionally, she has served as Chair of Svemin’s Environmental Committee, as a board member of Swedish Mining Innovation, and as a member of Euromines’ Environmental and Sustainability Committee, where she contributed to strategic industry issues at both national and European level. She holds a degree in Geology and Water Resources from Lund University and an Executive MBA from the Stockholm School of Economics. Reported Earnings • Feb 11
Full year 2025 earnings released: kr0.83 loss per share (vs kr0.48 loss in FY 2024) Full year 2025 results: kr0.83 loss per share (further deteriorated from kr0.48 loss in FY 2024). Revenue: kr285.3m (down 14% from FY 2024). Net loss: kr109.1m (loss widened 126% from FY 2024). Revenue is forecast to grow 58% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Metals and Mining industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Announcement • Dec 19
Gruvaktiebolaget Viscaria has completed a Follow-on Equity Offering in the amount of SEK 856.149158 million. Gruvaktiebolaget Viscaria has completed a Follow-on Equity Offering in the amount of SEK 856.149158 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 90,120,964
Price\Range: SEK 9.5
Transaction Features: Rights Offering New Risk • Nov 28
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Swedish stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Shareholders have been substantially diluted in the past year (39% increase in shares outstanding). Announcement • Nov 19
Gruvaktiebolaget Viscaria has filed a Follow-on Equity Offering in the amount of SEK 856.149158 million. Gruvaktiebolaget Viscaria has filed a Follow-on Equity Offering in the amount of SEK 856.149158 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 90,120,964
Price\Range: SEK 9.5
Transaction Features: Rights Offering Reported Earnings • Nov 07
Third quarter 2025 earnings released: kr0.26 loss per share (vs kr0.051 loss in 3Q 2024) Third quarter 2025 results: kr0.26 loss per share (further deteriorated from kr0.051 loss in 3Q 2024). Revenue: kr57.8m (down 44% from 3Q 2024). Net loss: kr28.2m (loss widened 413% from 3Q 2024). Revenue is forecast to grow 64% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Metals and Mining industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. New Risk • Nov 06
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: kr64m Forecast net loss in 2 years: kr30m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (39% increase in shares outstanding). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (kr30m net loss in 2 years). Share price has been volatile over the past 3 months (9.8% average weekly change). New Risk • Nov 04
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 39% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (39% increase in shares outstanding). Minor Risk Share price has been volatile over the past 3 months (9.5% average weekly change). Recent Insider Transactions • Oct 29
Chairman recently bought kr150m worth of stock On the 23rd of October, Per Colleen bought around 8m shares on-market at roughly kr19.00 per share. This transaction increased Per's direct individual holding by 39x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Per has been a buyer over the last 12 months, purchasing a net total of kr151m worth in shares. New Risk • Oct 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Swedish stocks, typically moving 8.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-kr620m free cash flow). Minor Risk Share price has been volatile over the past 3 months (8.2% average weekly change). Announcement • Oct 02
Gruvaktiebolaget Viscaria, Annual General Meeting, May 07, 2026 Gruvaktiebolaget Viscaria, Annual General Meeting, May 07, 2026. Reported Earnings • Aug 14
Second quarter 2025 earnings released: kr0.20 loss per share (vs kr0.13 loss in 2Q 2024) Second quarter 2025 results: kr0.20 loss per share (further deteriorated from kr0.13 loss in 2Q 2024). Revenue: kr65.1m (down 30% from 2Q 2024). Net loss: kr21.7m (loss widened 81% from 2Q 2024). Revenue is forecast to grow 60% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Metals and Mining industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. New Risk • May 12
New major risk - Revenue and earnings growth Earnings have declined by 44% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr539m free cash flow). Earnings have declined by 44% per year over the past 5 years. Minor Risk Shareholders have been diluted in the past year (20% increase in shares outstanding). New Risk • May 09
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: kr55m Forecast net loss in 2 years: kr67m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-kr539m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (kr67m net loss in 2 years). Shareholders have been diluted in the past year (20% increase in shares outstanding). Announcement • May 09
Gruvaktiebolaget Viscaria Approves Board Changes Gruvaktiebolaget Viscaria at its AGM held on May 8, 2025, approved to elect Mark Johnson and Lars-Eric Aaro as new members of the board. Henrik Ager and Sven-Erik Bucht declined re-election. Reported Earnings • Apr 17
Full year 2024 earnings released: kr0.48 loss per share (vs kr0.36 loss in FY 2023) Full year 2024 results: kr0.48 loss per share (further deteriorated from kr0.36 loss in FY 2023). Revenue: kr331.0m (up 27% from FY 2023). Net loss: kr48.2m (loss widened 60% from FY 2023). Revenue is forecast to grow 64% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Metals and Mining industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Announcement • Mar 28
Gruvaktiebolaget Viscaria, Annual General Meeting, May 08, 2025 Gruvaktiebolaget Viscaria, Annual General Meeting, May 08, 2025, at 16:00 W. Europe Standard Time. Location: at aurora kultur & kongress, room lumi, stadshustorget 10, se-981 30 kiruna, Sweden Reported Earnings • Feb 21
Full year 2024 earnings released: kr0.48 loss per share (vs kr0.36 loss in FY 2023) Full year 2024 results: kr0.48 loss per share (further deteriorated from kr0.36 loss in FY 2023). Revenue: kr331.0m (up 27% from FY 2023). Net loss: kr48.2m (loss widened 60% from FY 2023). Revenue is forecast to grow 64% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Metals and Mining industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. New Risk • Dec 07
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: kr272m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr388m free cash flow). Earnings are forecast to decline by an average of 1.4% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (kr60m net loss in 2 years). Shareholders have been diluted in the past year (20% increase in shares outstanding). Significant insider selling over the past 3 months (kr272m sold). Breakeven Date Change • Nov 11
No longer forecast to breakeven The analyst covering Gruvaktiebolaget Viscaria no longer expects the company to break even during the foreseeable future. The company was expected to make a profit of kr86.0m in 2026. New forecast suggests the company will make a loss of kr1.00m in 2026. Reported Earnings • Nov 10
Third quarter 2024 earnings released: kr0.051 loss per share (vs kr0.054 loss in 3Q 2023) Third quarter 2024 results: kr0.051 loss per share. Revenue: kr103.8m (up 72% from 3Q 2023). Net loss: kr5.50m (loss widened 30% from 3Q 2023). Revenue is forecast to grow 65% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Metals and Mining industry in Sweden. Announcement • Oct 18
Gruvaktiebolaget Viscaria Announces Appointment of Nomination Committee Gruvaktiebolaget Viscaria announced the nomination committee of the company ahead of the annual general meeting 2025 has been appointed in accordance with the instruction for and appointment of the nomination committee, adopted by the general meeting. The nomination committee consists of: Thomas von Koch as representative of TomEnterprise Public Capital AB; Håkan Eriksson as representative of JOHECO AB and Skandinavkonsult i Stockholm AB; Joachim Spetz as representative of Swedbank Robur Fonder. Recent Insider Transactions • Sep 13
Independent Vice Chairman recently bought kr55k worth of stock On the 9th of September, Markus Petajaniemi bought around 3k shares on-market at roughly kr18.48 per share. This transaction amounted to 27% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Markus' only on-market trade for the last 12 months. Reported Earnings • Aug 16
Second quarter 2024 earnings released: kr0.13 loss per share (vs kr0.11 loss in 2Q 2023) Second quarter 2024 results: kr0.13 loss per share (further deteriorated from kr0.11 loss in 2Q 2023). Revenue: kr92.3m (up 8.2% from 2Q 2023). Net loss: kr12.0m (loss widened 42% from 2Q 2023). Revenue is forecast to grow 63% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Metals and Mining industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. New Risk • Jun 24
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 20% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-kr318m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (kr128m net loss in 2 years). Share price has been volatile over the past 3 months (9.1% average weekly change). Shareholders have been diluted in the past year (20% increase in shares outstanding). Announcement • May 08
Copperstone Resources AB Receives Permit from the Land and Environment Court On May 6, the Land and Environment Court at Umeå District Court announced that Copperstone was granted an environmental permit for the reopening of the Viscaria copper mine. The court has also granted Copperstone an enforcement order which means that certain time-critical processes can be initiated immediately, pending the judgment gaining legal force and the permit being fully used. The enforcement includes the construction and operation of water treatment plants and the drainage and rehabilitation of the existing underground mine. The environmental permit covers the extraction of up to 3.6 million tonnes of ore per year and is subject to certain conditions regarding emissions to water and air, species protection, Natura 2000 and protection measures for reindeer husbandry. The judgement of the Land and Environment Court can be appealed to the Land and Environment Court of Appeal, MÖD, and then to the Supreme Court, which is the final instance. In order for an appeal to be considered by either of these courts, the court in question must grant leave to appeal. When the MMD's decision cannot be further appealed, it becomes final. The deadline for appealing the Land and Environment Court's judgment is 27 May 2024. Price Target Changed • May 08
Price target increased by 11% to kr40.00 Up from kr36.00, the current price target is provided by 1 analyst. New target price is 72% above last closing price of kr23.25. Stock is down 21% over the past year. The company is forecast to post a net loss per share of kr0.70 next year compared to a net loss per share of kr0.36 last year. Reported Earnings • May 07
First quarter 2024 earnings released: kr0.13 loss per share (vs kr0.097 loss in 1Q 2023) First quarter 2024 results: kr0.13 loss per share (further deteriorated from kr0.097 loss in 1Q 2023). Revenue: kr57.6m (up 13% from 1Q 2023). Net loss: kr11.5m (loss widened 55% from 1Q 2023). Revenue is forecast to grow 60% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Metals and Mining industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Reported Earnings • Apr 19
Full year 2023 earnings released: kr0.36 loss per share (vs kr0.33 loss in FY 2022) Full year 2023 results: kr0.36 loss per share (further deteriorated from kr0.33 loss in FY 2022). Revenue: kr260.7m (up 41% from FY 2022). Net loss: kr30.1m (loss widened 38% from FY 2022). Revenue is forecast to grow 42% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Metals and Mining industry in Sweden. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance. Announcement • Mar 07
Copperstone Resources AB to Report Fiscal Year 2024 Results on Feb 20, 2025 Copperstone Resources AB announced that they will report fiscal year 2024 results on Feb 20, 2025 Breakeven Date Change • Mar 04
Forecast to breakeven in 2026 The analyst covering Copperstone Resources expects the company to break even for the first time. New forecast suggests the company will make a profit of kr86.0m in 2026. Average annual earnings growth of 23% is required to achieve expected profit on schedule. Announcement • Feb 28
Copperstone Resources AB Completes an Upgrade of the Mineral Resources in the Eva Deposit in Arvidsjaur Copperstone Resources AB has completed an upgrade of the mineral resources in the Eva deposit in Arvidsjaur, which shows that the resources have increased by approximately 50%. The upgrade has been carried out in accordance with the PERC Standard 2021. The Indicated and Inferred mineral resources are about 50% higher than previous explorations of the area have shown. In the new geological understanding, the Eva deposit has been confirmed to consist of two mineralized domains: a zinc-gold (Zn-Au) and a gold-copper (Au-Cu). The gold-copper domain is a feeder zone (area from which the mineralization is deemed to originate from). Copperstone has used the same cut-off of 1% zinc equivalents as in previous reports. The so-called cut-off grade is the lowest grade that is currently deemed necessary for economic recovery. The resource upgrade shows a total increase in mineral resources according to PERC Standard 2021 of 5%, from 5.16 Mtonnes to 7.76 Mtonnes. The Eva deposit has an average metal grade of 4.41% zinc equivalents (copper, gold and silver converted to zinc). In addition to the Eva deposit, the Arvidsjaur project consists of Svartliden and Granliden. The company will take into account the new interpretation of the Eva deposit and the results from the mineral resource upgrade for the next exploration campaign in the Arvidsjaur project. Including the resource upgrade of the Eva deposit, the total resources in Arvidsjaur amount to 34 Mtonnes of copper, zinc, gold and silver-bearing rock. In addition to the Eva deposit, the western part of Granliden is also an interesting exploration area. The ambition is to try to identify the gold around the Eva deposit (previously confirmed by Copperstone that it is of a different origin than the zinc) and the significant geophysical anomaly in western Granliden, which has never been drilled. Copperstone has also applied for an additional exploration permit in the area, Sandberget no. 600, which is directly adjacent to the large area Sandberget no. 500, as the potential mineralization appears to continue northwest of the lake Sandträsket. In accordance with PERC Standard's regulations, the resource upgrade of the Eva deposit has been reviewed and approved by a so-called competent person. Reported Earnings • Nov 08
Third quarter 2023 earnings released: kr0.001 loss per share (vs kr0.003 loss in 3Q 2022) Third quarter 2023 results: kr0.001 loss per share. Revenue: kr60.4m (up 56% from 3Q 2022). Net loss: kr4.24m (loss widened 9.5% from 3Q 2022). Revenue is expected to fall by 32% p.a. on average during the next 3 years compared to a 1.1% decline forecast for the Metals and Mining industry in Sweden. New Risk • Nov 07
New major risk - Revenue and earnings growth Earnings have declined by 35% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr302m free cash flow). Earnings have declined by 35% per year over the past 5 years. Minor Risk Shareholders have been diluted in the past year (17% increase in shares outstanding). Announcement • Oct 20
Copperstone Resources AB Announces Executive Changes Copperstone Resources AB announced appointment of Anna Tyni as deputy CEO. for Copperstone. In addition, Peter Wihlborg will be the new Head of Environment and Sustainability and Christopher Wihlborg the new Head of Mine. At the same time, Tove Thelin Täckdal, Head of Enrichment, and Thomas Nordmark, Head of Infrastructure, take place in the group management. Peter Wihlborg replaces Anders Lundqvist and becomes Head of Environment and Sustainability. Christopher Wihlborg replaces Glenn Nilsson as Head of Mine. The changes are part of a natural succession. Anders Lundqvist and Glenn Nilsson will continue to work with the company and their long experience will continue to be valuable in the work to restart the Viscaria mine. Announcement • Sep 19
Copperstone Resources AB, Annual General Meeting, May 07, 2024 Copperstone Resources AB, Annual General Meeting, May 07, 2024. Reported Earnings • Aug 31
Second quarter 2023 earnings released: kr0.005 loss per share (vs kr0.004 loss in 2Q 2022) Second quarter 2023 results: kr0.005 loss per share (further deteriorated from kr0.004 loss in 2Q 2022). Revenue: kr85.3m (up 84% from 2Q 2022). Net loss: kr8.46m (loss widened 54% from 2Q 2022). Revenue is forecast to grow 68% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Sweden are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. New Risk • Aug 30
New major risk - Revenue and earnings growth Earnings have declined by 30% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr300m free cash flow). Earnings have declined by 30% per year over the past 5 years. Minor Risk Shareholders have been diluted in the past year (35% increase in shares outstanding). Recent Insider Transactions • Jun 25
Director recently bought kr40m worth of stock On the 21st of June, Per Colleen bought around 37m shares on-market at roughly kr1.07 per share. This transaction increased Per's direct individual holding by 12x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr32m more in shares than they have sold in the last 12 months. Announcement • Jun 21
Copperstone Resources AB has completed a Follow-on Equity Offering in the amount of SEK 265.999999 million. Copperstone Resources AB has completed a Follow-on Equity Offering in the amount of SEK 265.999999 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 248,598,130
Price\Range: SEK 1.07
Transaction Features: Subsequent Direct Listing Reported Earnings • May 15
First quarter 2023 earnings released: kr0.005 loss per share (vs kr0.003 loss in 1Q 2022) First quarter 2023 results: kr0.005 loss per share (further deteriorated from kr0.003 loss in 1Q 2022). Revenue: kr51.2m (up 9.6% from 1Q 2022). Net loss: kr7.43m (loss widened 94% from 1Q 2022). Revenue is forecast to grow 72% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Sweden are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 33% per year, which means it is well ahead of earnings. Reported Earnings • Mar 09
Full year 2022 earnings released: kr0.014 loss per share (vs kr0.017 loss in FY 2021) Full year 2022 results: kr0.014 loss per share. Revenue: kr185.5m (up 69% from FY 2021). Net loss: kr22.3m (loss widened 37% from FY 2021). Revenue is forecast to grow 82% p.a. on average during the next 2 years, compared to a 1.1% decline forecast for the Metals and Mining industry in Sweden. Announcement • Jan 04
Copperstone Appoints Frida Keskitalo as CFO Copperstone Resources AB (publ) has appointed Frida Keskitalo as CFO. She will take up the position on April 1, 2023. During her career, Frida Keskitalo has mostly worked at LKAB where she has held several positions in finance and accounting as well as managerial roles in operations, maintenance and logistics. Frida Keskitalo was born in 1979 and has a degree in economics from Umeå School of Business, Economics and Statistics. She started her career at LKAB in Kiruna in 2005 and has subsequently held a number of roles at LKAB, several of which in senior positions. Her roles have included financial accountant, accounting manager for LKAB Parent Company and operations controller at the "Sales & Logistics" unit. She most recently held the position of Section Manager Operations and Maintenance at LKAB Malmtrafik AB Terminal. Reported Earnings • Nov 19
Third quarter 2022 earnings released: kr0.003 loss per share (vs kr0.003 loss in 3Q 2021) Third quarter 2022 results: kr0.003 loss per share (in line with 3Q 2021). Revenue: kr38.7m (up 35% from 3Q 2021). Net loss: kr3.87m (loss widened 26% from 3Q 2021). Revenue is forecast to grow 100% p.a. on average during the next 3 years, compared to a 4.0% decline forecast for the Metals and Mining industry in Sweden. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. Price Target Changed • Nov 16
Price target increased to kr1.75 Up from kr1.45, the current price target is provided by 1 analyst. New target price is 37% above last closing price of kr1.28. Stock is up 6.0% over the past year. The company is forecast to post a net loss per share of kr0.01 next year compared to a net loss per share of kr0.017 last year. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Ing-Marie Drugge was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 19
Second quarter 2022 earnings released: kr0.004 loss per share (vs kr0.003 loss in 2Q 2021) Second quarter 2022 results: kr0.004 loss per share (down from kr0.003 loss in 2Q 2021). Revenue: kr46.5m (up 117% from 2Q 2021). Net loss: kr5.50m (loss widened 53% from 2Q 2021). Over the next year, revenue is expected to shrink by 100% compared to a 422% growth forecast for the Metals and Mining industry in Sweden. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 42% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 27
Full year 2021 earnings released: kr0.017 loss per share (vs kr0.012 profit in FY 2020) Full year 2021 results: kr0.017 loss per share (down from kr0.012 profit in FY 2020). Revenue: kr110.0m (up 167% from FY 2020). Net loss: kr16.2m (down 335% from profit in FY 2020). Over the next year, revenue is expected to shrink by 100% compared to a 650% growth forecast for the mining industry in Sweden. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 27
Price target increased to kr1.75 Up from kr1.45, the current price target is provided by 1 analyst. New target price is 54% above last closing price of kr1.14. Stock is up 31% over the past year. The company is forecast to post a net loss per share of kr0.01 next year compared to a net loss per share of kr0.017 last year. Board Change • Apr 27
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. Head of Business Development & Director Michael Mattsson is the most experienced director on the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Recent Insider Transactions • Apr 02
Head of Business Development & Director recently sold kr1.2m worth of stock On the 30th of March, Michael Mattsson sold around 990k shares on-market at roughly kr1.22 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of kr5.7m more than they bought in the last 12 months. Reported Earnings • Mar 05
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: kr0.017 loss per share (down from kr0.012 profit in FY 2020). Revenue: kr110.0m (up 167% from FY 2020). Net loss: kr16.2m (down 335% from profit in FY 2020). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is expected to shrink by 100% compared to a 502% growth forecast for the mining industry in Sweden. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 20
Third quarter 2021 earnings released: kr0.003 loss per share (vs kr0.011 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: kr28.7m (up kr25.3m from 3Q 2020). Net loss: kr3.07m (loss narrowed 58% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 21
Second quarter 2021 earnings released: kr0.003 loss per share (vs kr0.001 loss in 2Q 2020) The company reported a decent second quarter result with improved revenues, although losses increased and control over costs was weaker. Second quarter 2021 results: Revenue: kr21.4m (up 186% from 2Q 2020). Net loss: kr3.60m (loss widened kr3.21m from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 1% per year. Recent Insider Transactions • Aug 21
Executive Chairman recently bought kr1.2m worth of stock On the 19th of August, Jorgen Olsson bought around 1m shares on-market at roughly kr1.18 per share. This was the largest purchase by an insider in the last 3 months. This was Jorgen's only on-market trade for the last 12 months. Recent Insider Transactions • Jul 20
Independent Director recently sold kr3.5m worth of stock On the 15th of July, Lars Seiz sold around 2m shares on-market at roughly kr1.82 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of kr5.7m more than they bought in the last 12 months. Recent Insider Transactions • Jun 22
Head of Business Development & Director recently sold kr2.3m worth of stock On the 17th of June, Michael Mattsson sold around 2m shares on-market at roughly kr1.27 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of kr1.5m more than they bought in the last 12 months. Reported Earnings • May 21
First quarter 2021 earnings released: kr0.006 loss per share (vs kr0.003 loss in 1Q 2020) The company reported a mediocre first quarter result with increased losses and weaker control over costs, although revenues improved. First quarter 2021 results: Revenue: kr13.5m (up 59% from 1Q 2020). Net loss: kr5.10m (loss widened 205% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 10% per year, which means it is performing significantly worse than earnings. Reported Earnings • Mar 31
Full year 2020 earnings released: EPS kr0.012 (vs kr0.034 loss in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: kr41.2m (up 299% from FY 2019). Net income: kr6.91m (up kr21.5m from FY 2019). Profit margin: 17% (up from net loss in FY 2019). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 7% per year, which means it is performing significantly worse than earnings. Executive Departure • Mar 18
Independent Director has left the company On the 10th of March, Malcolm Norris' tenure as Independent Director ended after 2.3 years in the role. We don't have any record of a personal shareholding under Malcolm's name. Malcolm is the only executive to leave the company over the last 12 months. Is New 90 Day High Low • Feb 23
New 90-day high: kr0.84 The company is up 32% from its price of kr0.64 on 24 November 2020. The Swedish market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 19% over the same period. Is New 90 Day High Low • Jan 19
New 90-day low: kr0.62 The company is down 23% from its price of kr0.81 on 21 October 2020. The Swedish market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 12% over the same period. Price Target Changed • Jan 13
Price target raised to kr1.95 Up from kr1.65, the current price target is provided by 1 analyst. The new target price is 171% above the current share price of kr0.72. As of last close, the stock is up 65% over the past year. 