BlueLake Mineral (BLUE) Q2 2026 earnings summary

Executive summary

• Revenue for Q2 2026 was 0.0 MSEK, down from 1.1 MSEK in Q2 2025; net loss after tax widened to -12.4 MSEK from -4.8 MSEK year-over-year.

• Exploration and evaluation costs increased significantly to -10.8 MSEK in Q2 2026 from -1.7 MSEK in Q2 2025.

• Major strategic steps included a 70 MSEK directed share issue and a strategic partnership with LNS Holding AS.

• Technical progress included successful drilling at Joma and commencement of new drilling at Gjersvik.

Financial highlights

• Q2 2026 net loss after tax: -12.4 MSEK (Q2 2025: -4.8 MSEK); H1 2026 net loss: -25.1 MSEK (H1 2025: -10.6 MSEK).

• Earnings per share for Q2 2026: -0.08 SEK (Q2 2025: -0.05 SEK); H1 2026: -0.16 SEK (H1 2025: -0.10 SEK).

• Equity at June 30, 2026: 43.4 MSEK (June 30, 2025: 34.9 MSEK); liquidity at period end: 6.0 MSEK (3.9 MSEK).

• Cash flow from operations in Q2 2026: -13.0 MSEK (Q2 2025: -7.4 MSEK); total cash flow Q2 2026: -14.0 MSEK.

• Investments in Q2 2026: 1.0 MSEK (Q2 2025: 0.0 MSEK).

Outlook and guidance

• Focus remains on advancing base metal projects, especially Joma, Stekenjokk, and Levi, with a pre-feasibility study targeted for completion in 2027.

• Strategic partnership and new capital are expected to support ongoing technical, geological, and environmental studies.