New Risk • May 18
New minor risk - Financial position The company has less than a year of cash runway based on its current free cash flow. Free cash flow: -kr30m This is considered a minor risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risks Less than 1 year of cash runway based on current free cash flow (-kr30m). Shareholders have been diluted in the past year (18% increase in shares outstanding). New Risk • Apr 30
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 29% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Share price has been highly volatile over the past 3 months (14% average weekly change). Earnings are forecast to decline by an average of 29% per year for the foreseeable future. Minor Risks Less than 1 year of cash runway based on current free cash flow (-kr30m). Shareholders have been diluted in the past year (18% increase in shares outstanding). Reported Earnings • Apr 06
Full year 2025 earnings released: kr0.16 loss per share (vs kr0.057 loss in FY 2024) Full year 2025 results: kr0.16 loss per share (further deteriorated from kr0.057 loss in FY 2024). Revenue: kr395.2m (down 4.4% from FY 2024). Net loss: kr52.8m (loss widened 222% from FY 2024). Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 91% per year, which means it is well ahead of earnings. New Risk • Feb 28
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 17% 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 Share price has been highly volatile over the past 3 months (23% average weekly change). Minor Risks Less than 1 year of cash runway based on current free cash flow (-kr35m). Shareholders have been diluted in the past year (17% increase in shares outstanding). Reported Earnings • Feb 21
Full year 2025 earnings released: kr0.16 loss per share (vs kr0.057 loss in FY 2024) Full year 2025 results: kr0.16 loss per share (further deteriorated from kr0.057 loss in FY 2024). Revenue: kr395.1m (down 4.5% from FY 2024). Net loss: kr52.8m (loss widened 222% from FY 2024). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 98% per year, which means it is well ahead of earnings. Announcement • Feb 21
Sotkamo Silver AB Provides Production Guidance for the Year 2026 Sotkamo Silver AB provided production guidance for the year 2026. For the year, the Company expects to produce 0.9 million -1.2 million ounces of silver. Buy Or Sell Opportunity • Jan 22
Now 23% undervalued Over the last 90 days, the stock has risen 391% to €0.50. The fair value is estimated to be €0.65, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Announcement • Jan 02
Sotkamo Silver AB Announces Ore Reserve Estimate of the Silver Mine Sotkamo Silver AB announced the Mineral Resource estimate has an effective date of December 30, 2025. Mineral resources do not have demonstrated economic viability. The estimate has been prepared and reported in accordance with the recommendations of the 2012 Australasian Code for Reporting of Mineral Resources and Ore Reserves (JORC 2012). Exchange rate used: USD 1.2. Base case cut-off grade for the estimate of the Mineral Resources is 40 g/t AgEq. AgEq = silver equivalent g/t. AgEq grade calculated using (USD prices of) silver USD 39.65 $/oz, gold USD 3,11 $/oz, lead 2, 002 $/t and zinc USD 2,726 $/t. Sotkamo Silver is not aware of any legal, political, environmental, or other risks that could materially affect the potential development of the Mineral Resources. Depending on the amount of the data within the domain either the Ordinary Kriging method ("OK") or Inverse Distance Squared ("ID2") algorithms for grade interpolation was used for the Silver Mine Mineral Resource using an experimental variogram models created for the elements Ag, Au, Pb and Zn. Estimation of Domains using the Inverse Distance Squared method ("ID2") algorithm using an individual search ellipsoid oriented to the average strike, plunge and dip of the mineralised zone. Samples within the wireframes were composited to 1 m intervals. The estimate is based on a block size of 5 m (X) by 10 m (Y) by 10m (Z), with sub-blocks of 1m by 1m by 1m. A bulk density value of 2.82t/m3 was assigned to all materials (ore and waste). Competent Person's Statement. The Information in this release that relates to Mineral Resources is based on information compiled by Ida Eriksson. She holds MAusIMM certification and works at Sotkamo Silver Oy as Head of Geology. Ms Eriksson has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources, and Ore Reserves". Announcement • Nov 22
Sotkamo Silver AB Revises Production Guidance for the Full Year 2025 Sotkamo Silver AB revised production guidance for the full year 2025. for the year, The Company expects to produce 0.8 million -0.9 million ounces of silver against 1.0 million -1.2 million ounces of silver expected previously. Reported Earnings • Oct 24
Third quarter 2025 earnings released: EPS: kr0.01 (vs kr0.11 in 3Q 2024) Third quarter 2025 results: EPS: kr0.01 (down from kr0.11 in 3Q 2024). Revenue: kr110.3m (down 3.2% from 3Q 2024). Net income: kr4.00m (down 88% from 3Q 2024). Profit margin: 3.6% (down from 28% in 3Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 16
Sotkamo Silver AB, Annual General Meeting, Apr 21, 2026 Sotkamo Silver AB, Annual General Meeting, Apr 21, 2026. New Risk • Oct 08
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 Finnish stocks, typically moving 9.6% 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 Risk Share price has been highly volatile over the past 3 months (9.6% average weekly change). Minor Risk Market cap is less than US$100m (€33.6m market cap, or US$39.0m). Announcement • Jul 31
Sotkamo Silver AB to Report Q4, 2025 Results on Feb 20, 2026 Sotkamo Silver AB announced that they will report Q4, 2025 results on Feb 20, 2026 Announcement • Jul 24
Sotkamo Silver AB announced a financing transaction Sotkamo Silver AB announced a private placement to issue new shares, warrants and/or convertibles on July 23, 2025. The company has received approval from the shareholders in the extraordinary meeting. New Risk • Jun 13
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 Finnish stocks, typically moving 9.0% 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 Risk Share price has been highly volatile over the past 3 months (9.0% average weekly change). Minor Risk Market cap is less than US$100m (€28.7m market cap, or US$33.2m). Reported Earnings • Feb 15
Full year 2024 earnings released: kr0.06 loss per share (vs kr0.095 profit in FY 2023) Full year 2024 results: kr0.06 loss per share (down from kr0.095 profit in FY 2023). Revenue: kr413.6m (flat on FY 2023). Net loss: kr16.4m (down 160% from profit in FY 2023). Revenue is forecast to stay flat during the next 3 years compared to a 2.1% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Announcement • Feb 14
Sotkamo Silver AB Provides Production Guidance for the Year 2025 Sotkamo Silver AB provided production guidance for the year 2025. The company expects to produce 1.2 1.4 million ounces of silver. Reported Earnings • Oct 26
Third quarter 2024 earnings released: EPS: kr0.11 (vs kr0.039 in 3Q 2023) Third quarter 2024 results: EPS: kr0.11 (up from kr0.039 in 3Q 2023). Revenue: kr114.0m (up 1.3% from 3Q 2023). Net income: kr32.0m (up 186% from 3Q 2023). Profit margin: 28% (up from 10.0% in 3Q 2023). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Announcement • Oct 25
Sotkamo Silver AB, Annual General Meeting, Apr 24, 2025 Sotkamo Silver AB, Annual General Meeting, Apr 24, 2025. Reported Earnings • Jul 28
Second quarter 2024 earnings released: kr0.12 loss per share (vs kr0.06 profit in 2Q 2023) Second quarter 2024 results: kr0.12 loss per share (down from kr0.06 profit in 2Q 2023). Revenue: kr96.6m (down 19% from 2Q 2023). Net loss: kr34.0m (down 299% from profit in 2Q 2023). Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 30
First quarter 2024 earnings released First quarter 2024 results: Revenue: kr93.9m (up 45% from 1Q 2023). Net loss: kr11.3m (loss narrowed 40% from 1Q 2023). Revenue is forecast to stay flat during the next 3 years compared to a 1.5% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Announcement • Apr 23
Sotkamo Silver AB Appoints Joni Lukkaroinen as Board Member Sotkamo Silver AB announced that at the Annual General Meeting held on 23 April 2024 Joni Lukkaroinen was elected as a new board member. Reported Earnings • Apr 03
Full year 2023 earnings released: EPS: kr0.095 (vs kr0.14 loss in FY 2022) Full year 2023 results: EPS: kr0.095 (up from kr0.14 loss in FY 2022). Revenue: kr411.8m (up 7.8% from FY 2022). Net income: kr27.2m (up kr55.0m from FY 2022). Profit margin: 6.6% (up from net loss in FY 2022). The move to profitability was primarily driven by higher revenue. Revenue is expected to decline by 2.4% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to grow by 1.2%. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has fallen by 34% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 19
Full year 2023 earnings released: EPS: kr0.09 (vs kr0.14 loss in FY 2022) Full year 2023 results: EPS: kr0.09 (up from kr0.14 loss in FY 2022). Revenue: kr411.8m (up 7.8% from FY 2022). Net income: kr27.2m (up kr55.0m from FY 2022). Profit margin: 6.6% (up from net loss in FY 2022). The move to profitability was primarily driven by higher revenue. Revenue is forecast to decline by 2.4% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 43% per year, which means it is significantly lagging earnings. New Risk • Feb 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 Finnish stocks, typically moving 5.5% 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 Interest payments are not well covered by earnings (0.9x net interest cover). Minor Risks Share price has been volatile over the past 3 months (5.5% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (43% increase in shares outstanding). Market cap is less than US$100m (€19.8m market cap, or US$21.3m). Announcement • Dec 27
Sotkamo Silver AB Updates its Silver Mine Ore Reserve Estimate; the Estimated Ore Reserves Will Secure Mining in the Coming Years Sotkamo Silver AB according to its Ore Reserve estimate updated in December 2023, has assessed that the Ore Reserve of its Silver Mine amounts to a total of 1.45 million tons. The update of the Ore Reserve estimate does not change Sotkamo Silver's guidance or its 2023 production forecast. The company believes that the amount of Ore Reserve and currently known Mineral Resources are sufficient for about 7-8 years of mining and they will be increased with infill and exploration drilling planned for 2024 and 2025. Mineral Resources are upgraded to Ore Reserve with infill drilling. Exploration drilling increases the amount of known Mineral Resources in the area of the current mine. In the next few years, Sotkamo Silver will invest not only in the current mine, but also in the exploration and development of ore-critical areas in its vicinity. The Ore Reserve represents the portion of the Mineral Resources where production is concentrated in the short term. In this area, detailed infill drilling is carried out to ensure an optimised mine design. Sotkamo Silver is also striving to ensure with infill drilling that the Ore Reserve increases by at least one year's worth of production annually. The management of Sotkamo Silver also believes that with constant infill drilling, the company will be able to ensure that the Ore Reserve will be continuously available in sufficient quantities to enable three year’s worth of production. Sotkamo Silver's management and the Board of Directors estimate that a significant portion of the current Mineral Resources, which is not yet included in the Ore Reserve, can be included in the Ore Reserve in the future with continuous infill drilling. Mineral Resources represent assets that are fairly well known but have not yet been drilled in detail. These resources form the basis of the estimated Life of Mine, which currently extends to 2030. Areas located outside the current Mineral Resources offer additional opportunities for the expansion of the Silver Mine. By the end of 2025, Sotkamo Silver's goal is to extend the Life of Mine to 2035. In addition to Silver Mine development projects, Sotkamo Silver is also both developing and searching for future growth paths in accordance with its strategy. Sotkamo Silver plans research programs for the company's ore exploration areas and is currently modeling and refining its exploration operations for the coming years. Announcement • Nov 04
Sotkamo Silver AB to Report Fiscal Year 2023 Final Results on Apr 02, 2024 Sotkamo Silver AB announced that they will report fiscal year 2023 final results at 9:00 AM, E. Europe Standard Time on Apr 02, 2024 Reported Earnings • Oct 26
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: kr112.5m (up 70% from 3Q 2022). Net income: kr11.2m (up kr38.0m from 3Q 2022). Profit margin: 10.0% (up from net loss in 3Q 2022). Revenue is forecast to decline by 2.1% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 38% per year, which means it is significantly lagging earnings. New Risk • Oct 25
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 Finnish stocks, typically moving 5.8% 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: Minor Risks Share price has been volatile over the past 3 months (5.8% average weekly change). Shareholders have been diluted in the past year (43% increase in shares outstanding). Market cap is less than US$100m (€18.2m market cap, or US$19.3m). Reported Earnings • Jul 30
Second quarter 2023 earnings released: EPS: kr0.06 (vs kr0.029 loss in 2Q 2022) Second quarter 2023 results: EPS: kr0.06 (up from kr0.029 loss in 2Q 2022). Revenue: kr119.5m (up 39% from 2Q 2022). Net income: kr17.1m (up kr22.9m from 2Q 2022). Profit margin: 14% (up from net loss in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has fallen by 42% per year, which means it is significantly lagging earnings. Announcement • Jul 29
Sotkamo Silver AB Provides Production Guidance for the Year 2023 Sotkamo Silver AB provided production guidance for the year 2023. The Company expects to produce 1.4 -1.5 million ounces of silver in 2023. Breakeven Date Change • May 02
Forecast to breakeven in 2024 The analyst covering Sotkamo Silver expects the company to break even for the first time. New forecast suggests losses will reduce by 47% to 2023. The company is expected to make a profit of kr2.20m in 2024. Average annual earnings growth of 80% is required to achieve expected profit on schedule. Reported Earnings • Apr 27
First quarter 2023 earnings released: kr0.07 loss per share (vs kr0.042 profit in 1Q 2022) First quarter 2023 results: kr0.07 loss per share (down from kr0.042 profit in 1Q 2022). Revenue: kr64.6m (down 47% from 1Q 2022). Net loss: kr18.9m (down 325% from profit in 1Q 2022). Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 1.1% decline forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 16
Full year 2022 earnings released: kr0.14 loss per share (vs kr0.087 loss in FY 2021) Full year 2022 results: kr0.14 loss per share (further deteriorated from kr0.087 loss in FY 2021). Revenue: kr382.0m (down 1.4% from FY 2021). Net loss: kr27.8m (loss widened 59% from FY 2021). Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 1.6% decline forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has fallen by 42% per year, which means it is significantly lagging earnings. Breakeven Date Change • Jan 04
No longer forecast to breakeven The analyst covering Sotkamo Silver no longer expects the company to break even during the foreseeable future. The company was expected to make a profit of kr12.0m in 2024. New forecast suggests the company will make a loss of kr7.00m in 2024. Breakeven Date Change • Nov 16
Forecast to breakeven in 2024 The analyst covering Sotkamo Silver expects the company to break even for the first time. New forecast suggests the company will make a profit of kr12.0m in 2024. Average annual earnings growth of 59% is required to achieve expected profit on schedule. Breakeven Date Change • Nov 12
Forecast to breakeven in 2024 The analyst covering Sotkamo Silver expects the company to break even for the first time. New forecast suggests the company will make a profit of kr12.0m in 2024. Average annual earnings growth of 59% is required to achieve expected profit on schedule. Reported Earnings • Oct 24
Third quarter 2022 earnings released: kr0.13 loss per share (vs kr0.071 loss in 3Q 2021) Third quarter 2022 results: kr0.13 loss per share (further deteriorated from kr0.071 loss in 3Q 2021). Revenue: kr66.3m (down 18% from 3Q 2021). Net loss: kr26.8m (loss widened 87% from 3Q 2021). Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 3.3% decline forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has fallen by 50% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 03
Second quarter 2022 earnings released: kr0.029 loss per share (vs kr0.048 profit in 2Q 2021) Second quarter 2022 results: kr0.029 loss per share (down from kr0.048 profit in 2Q 2021). Revenue: kr86.3m (down 23% from 2Q 2021). Net loss: kr5.80m (down 160% from profit in 2Q 2021). Over the next year, revenue is forecast to stay flat compared to a 26% growth forecast for the industry in Finland. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. Breakeven Date Change • Aug 03
No longer forecast to breakeven The analyst covering Sotkamo Silver no longer expects the company to break even during the foreseeable future. The company was expected to make a profit of kr12.9m in 2022. New forecast suggests the company will make a loss of kr5.00m in 2024. Reported Earnings • Feb 18
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: kr0.09 loss per share (up from kr0.26 loss in FY 2020). Revenue: kr388.0m (up 2.9% from FY 2020). Net loss: kr17.0m (loss narrowed 64% from FY 2020). Revenue exceeded analyst estimates by 1.0%. Over the next year, revenue is forecast to grow 2.1%, compared to a 13% growth forecast for the mining industry in Finland. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings. Announcement • Feb 18
Sotkamo Silver AB to Report Q4, 2022 Results on Feb 17, 2023 Sotkamo Silver AB announced that they will report Q4, 2022 results on Feb 17, 2023 Reported Earnings • Oct 16
Third quarter 2021 earnings released The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: kr81.0m (down 38% from 3Q 2020). Net loss: kr14.0m (down 141% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Breakeven Date Change • Oct 16
Forecast to breakeven in 2022 The analyst covering Sotkamo Silver expects the company to break even for the first time. New forecast suggests the company will make a profit of kr12.9m in 2022. Average annual earnings growth of 86% is required to achieve expected profit on schedule. Reported Earnings • Jul 16
Second quarter 2021 earnings released: EPS kr0.048 (vs kr0.34 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: kr111.5m (up 53% from 2Q 2020). Net income: kr9.60m (up kr71.0m from 2Q 2020). Profit margin: 8.6% (up from net loss in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Executive Departure • May 03
Independent Director has left the company On the 27th of April, Maria Neovius' tenure as Independent Director ended after 2.0 years in the role. We don't have any record of a personal shareholding under Maria's name. A total of 2 executives have left over the last 12 months. Reported Earnings • Apr 06
Full year 2020 earnings released The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: kr377.1m (up 91% from FY 2019). Net loss: kr46.7m (loss narrowed 54% from FY 2019). Production and reserves: Gold Proved and probable reserves (ore): 1.859 Mt (2.384 Mt in FY 2019) Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 18
Full year 2020 earnings released: kr0.26 loss per share (vs kr0.76 loss in FY 2019) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: kr377.1m (up 91% from FY 2019). Net loss: kr46.7m (loss narrowed 54% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 34% 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. Analyst Estimate Surprise Post Earnings • Feb 18
Revenue misses expectations Revenue missed analyst estimates by 6.5%. Is New 90 Day High Low • Jan 28
New 90-day high: €0.36 The company is up 33% from its price of €0.27 on 30 October 2020. The Finnish market is up 21% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 29% over the same period. Is New 90 Day High Low • Jan 05
New 90-day high: €0.35 The company is up 25% from its price of €0.28 on 07 October 2020. The Finnish market is up 9.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 28% over the same period. Is New 90 Day High Low • Oct 30
New 90-day low: €0.26 The company is down 11% from its price of €0.29 on 31 July 2020. The Finnish market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is down 3.0% over the same period. Analyst Estimate Surprise Post Earnings • Oct 16
Third-quarter earnings released: Revenue beats expectations Third-quarter revenue exceeded analyst estimates by 19% at kr130.0m. Revenue is forecast to grow 10% over the next year, compared to a 7.3% growth forecast for the Metals and Mining industry in Finland. Reported Earnings • Oct 16
Third quarter earnings released Over the last 12 months the company has reported total losses of kr73.3m, with losses narrowing by 21% from the prior year. Total revenue was kr379.9m over the last 12 months, up 236% from the prior year. Is New 90 Day High Low • Oct 14
New 90-day high: €0.34 The company is up 54% from its price of €0.22 on 16 July 2020. The Finnish market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 4.0% over the same period. 
