Northgold AB releases Interim Report for July–September 2024

Financial highlights of third quarter 2024 (Group, consolidated)

• Net sales amounted to KSEK 0 (Q3 2023: KSEK 0).
• Operating profit/loss after financial items totalled KSEK -1,718 (Q3 2023: KSEK -2,618).
• Earnings per share after financial items amounted to SEK -0.14 (Q3 2023: SEK -0.26).
• Cash flow from operating activities was KSEK -1,172 (Q3 2023: KSEK -3,326).

Financial highlights of first nine months 2024 (Group, consolidated)

• Net sales amounted to KSEK 0 (9M 2023: KSEK 0).
• Operating profit/loss after financial items totalled KSEK -8,483 (9M 2023: KSEK -10,441).
• Earnings per share after financial items amounted to SEK -0.56 (9M 2023: SEK -0.92).
• Cash flow from operating activities was KSEK -7,417 (9M 2023: KSEK -10,321).

Significant events during the period July-September 2024

• In August, Northgold updates their strategy and resolves on a rights issue of units of approximately SEK 15.2 million. According to the new strategy, the Company will maintain the current asset base in a cost-effective manner, while continuing to evaluate potential partnerships and collaborations as well as structured deals and opportunities.
• The Rights Issue of units concluded on September 24, 2024, was subscribed to 50.0 per cent, including underwriting commitments. The Company raised approximately SEK 7.6 million before issuing costs and the repayment of a SEK 1.3 million bridge loan. The issue was registered October 7.

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.