Arctic Minerals (ARCT) H1 2026 earnings summary

Executive summary

• Advanced exploration at Hennes Bay copper-silver project, with 4,000m Phase 1 diamond drilling nearly complete and results pending.

• Extensive airborne MMT and gravity surveys completed, identifying high-priority targets and expanding exploration footprint tenfold over existing MRE.

• Management team strengthened with key appointments; SEK 40 million raised via directed share issue to fund exploration.

• Progress on permitting for exploitation concession at Hennes Bay, targeting submission in late 2027.

• Encouraging geophysical results at Swan Lake and ongoing assessment at Bidjovagge.

Financial highlights

• Result after tax for H1 2026: MSEK -8.6 (vs. -8.3 in H1 2025).

• Earnings per share: SEK -0.17 (vs. -0.21 in H1 2025).

• Cash and bank position at period end: MSEK 38.1 (vs. 19.2 previous year).

• Shareholders’ equity: MSEK 140.3 (vs. 111.7 previous year).

• Net investments for H1 2026: MSEK 9.2 (vs. 0.0 in H1 2025).

Outlook and guidance

• High activity expected in H2 2026 with key milestones ahead, including completion of drilling and further exploration at Hennes Bay.

• Ongoing systematic advancement of flagship and regional projects, supported by strengthened financial and organizational position.