BUSINESS REVIEW – JANUARY TO SEPTEMBER 2019
Danderyd November 21, 2019Copperstone Resources AB (“Copperstone” or “the Company”) is pleased to announce a Business Review (Q3 2019) for the Company.
Group Highlights Q3 2019 period (Q3-2018):The capitalized investments in exploration assets increased 431% to 295,451 (56,483) KSEKShareholders’ equity increased 251% to 241,778 (68,960) KSEKTotal assets at the end of the period increased by 315% to 321,133 (77,387) KSEKThe cash at hand at the end of the period was 15,864 (2,337) KSEKResult of the period amounted to -4,282 (-969) KSEK, including non-recurring costs of 1,762 KSEK, primarily related to the Viscaria acquisitionResult of the period per share was -0.01 (0.00) SEKThe cash flow during the period was 9,379 (-5,428) KSEKSignificant events during the Q319 period:Copperstone’s rights issue fully subscribed; improves financial position by 24 MSEKDirected placement and debt to equity conversion of 13.6 MSEKCore drillings at Viscaria commencesPositive resolution regarding Sandberget 500Significant events after the Q319 period:Norrlandsfonden invests in CopperstoneAmortization of the remaining debt regarding ViscariaFirst tranche with Yorkville fully settledViscaria A-zone drillings – VDD0201 returns 15m @ 0.73% Cu and 6m @ 1.45% Cu outside the Mineral Resource Boundary. VDD0203 returns 20m @1.27% Cu, including 5m @2.99% Cu. VDD0204 returns 18m @1.18% Cu, including 3m @3.28% Cu. Significant potential for gold and cobaltCopperstone recruits Ian Holman as the responsible Study Manager to ViscariaCopperstone strengthens its financial position by an additional 2.74 MSEK by a directed placement·The Supreme Administrative Court rules in favour of Copperstone and Sandberget 500. VDD0206 extended with a good 100 metres thanks to visual chalcopyrite / chalcopyrite veins in ironstone at, what appears to be, two longer intersections“Copperstone is actively executing on its plan to transfer from exploration to mining. The third quarter was no exception. In addition, our financial position improved by some 50 MSEK.”, comments CEO Michael Mattsson.The complete Q3 19 business review is attached. For further information, please contact Michael Mattsson (CEO) at +46(0)580-88890, or michael.mattsson@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 21, 2019 at 08:10 CET.Qualified Person The technical information herein has been reviewed by the Qualified Person of the Company (QP) Thomas Lindholm M. Sc., GeoVista AB, Luleå.AttachmentQ3 Final 191121 Clean