Lappland Guldprospektering (LGOLD) Q1 2025 earnings summary

Executive summary

• Focus on advancing Stortjärnhobben gold project, with environmental permit application initiated and constructive talks with authorities ongoing.

• New CEO Fredrik Johansson appointed, effective March 1, 2025; predecessor transitions to vice chairman with project responsibilities.

• Recruitment of experienced chief geologist Lazaros Dalampiras, starting July 2025, to strengthen resource definition and project development.

• Drilling at Graninge identified promising gold mineralization, supporting further exploration.

• Preparations for a 3,000-meter core drilling program at Stortjärnhobben to define initial mineral resources.

Financial highlights

• Revenue for Q1 2025 was 2,300 TSEK, compared to 0 TSEK in Q1 2024; prior year included non-recurring debt write-off gains.

• Net result after tax for Q1 2025 was -814 TSEK, down from -194 TSEK in Q1 2024.

• Cash and cash equivalents at March 31, 2025, totaled 17,736 TSEK, up from 3,413 TSEK a year earlier.

• Total assets at quarter-end were 22,251 TSEK, compared to 4,944 TSEK at March 2024.

• Equity at quarter-end was 22,222 TSEK, up from 1,824 TSEK in Q1 2024.

Outlook and guidance

• Focus remains on securing permits and advancing Stortjärnhobben toward resource definition and trial mining.

• Further drilling at Graninge planned for summer, following positive gold intercepts.

• Continued collaboration with partners and authorities anticipated in the next quarter.