Northgold AB releases Half-Year Report for April–June 2024

Financial highlights of second quarter 2024 (Group, consolidated)

• Net sales amounted to KSEK 0 (Q2 2023: KSEK 0).
• Operating profit/loss after financial items totalled KSEK -3,865 (Q2 2023: KSEK -4,319).
• Earnings per share after financial items amounted to SEK -0.25 (Q2 2023: SEK -0.4).
• Cash flow from operating activities was KSEK -4,320 (Q2 2023: KSEK 5,025).

Financial highlights of first half year 2024 (Group, consolidated)

• Net sales amounted to KSEK 0 (6M 2023: KSEK 0).
• Operating profit/loss after financial items totalled KSEK -6,418 (6M 2023: KSEK -7,894).
• Earnings per share after financial items amounted to SEK -0.42 (6M 2023: SEK -0.6).
• Cash flow from operating activities was KSEK -6,245 (6M 2023: KSEK -7,627).

Significant events during the second quarter

• Northgold announced the outcome of the exercise of warrants of series TO 1.
• The company restarted diamond drilling at its wholly owned Kopsa gold-copper project. The drill campaign consisted of four holes, totaling 380 meters, and targeted continued resource growth around the Kopsa deposit.
• Northgold AB appointed Seppo Tuovinen as a new Chief Executive Officer. Seppo Tuovinen has extensive experience from several mining and exploration companies, such as Talvivaara, Outokumpu, and Endomines Finland.
• Northgold announced exploration results that confirmed a substantially larger zone of gold and copper potential at the Hirsikangas project.

For the full report, please download the attached PDF. The full report is also available at https://northgoldab.com/financial-reports/.

Further information
Seppo Tuovinen, CEO of Northgold AB
[email protected]
Website: www.northgoldab.com
Follow us: www.linkedin.com/company/northgold

Northgold is a Swedish-listed gold exploration and development Company focused on advancing multiple, co-located, resource-stage projects in the Middle Ostrobothnia Gold Belt (MOGB) of Central Finland, including the Kopsa Gold-Copper project, the Kiimala Trend Gold project, and the Hirsikangas Gold project. The Company strives to grow its gold mineral resources, make new gold discoveries, and ultimately extract gold from these under-explored areas in Central Finland.www.northgoldab.com. Augment Partners AB, tel. +46 8-604 22 55 [email protected], is acting as the Company's Certified Adviser.