Lappland Guldprospektering (LGOLD) Q3 2024 earnings summary

Executive summary

• Focused on advancing the Stortjärnhobben gold project, with drilling initiated to confirm mineral resources for future gold production.

• Secured a processing concession and expanded a portfolio of exploration permits with significant gold potential.

• Achieved a successful, oversubscribed new share issue of 20 MSEK to fund drilling and project development.

• Approved for listing on Spotlight Stock Market, with trading set to begin October 15, 2024.

Financial highlights

• Q3 2024 revenue was 0 TSEK (0), with net income of -873 TSEK (-380) and EPS of -1.3 SEK (-5.8) compared to Q3 2023.

• For the first nine months, revenue was 2,300 TSEK (0), net income 804 TSEK (-893), and EPS 1.2 SEK (-13.5) year-over-year.

• Cash and cash equivalents at September 2024 were 18,779 TSEK (3,975), and total assets 22,504 TSEK (5,748).

• Notable one-time costs in Q3 included listing expenses and payments for prior geological work.

Outlook and guidance

• Ongoing core drilling at Stortjärnhobben aims to maximize geological understanding and support future mine development.

• Additional exploration and permit applications are underway for other early-stage gold projects.

• Management expresses confidence in developing one of the region's most promising gold projects.