Mahvie Minerals (MAHVIE) Q1 2026 earnings summary

Executive summary

• Q1 2026 marked by progress in the Haveri gold project in Finland and strengthened financial position.

• Initial mineral resource estimate for Haveri: 1.5 million tons at 2.4 g/t gold, with additional exploration targets identified.

• Strengthened organization with a dedicated Study Manager and advanced environmental studies.

• Åkerberg project in Sweden advanced with geophysical surveys and planning for a 3,000-meter drilling program.

• Financing secured through a directed share issue and successful warrant exercise, raising over 27 MSEK in total.

Financial highlights

• Revenue for Q1 2026 was 0 TSEK, unchanged year-over-year.

• Net loss after tax for Q1 2026 was -2,163 TSEK, compared to -1,206 TSEK in Q1 2025.

• Earnings per share for Q1 2026 was -0.01 SEK, improved from -0.02 SEK in Q1 2025.

• Equity at March 31, 2026: 54,099 TSEK (33,176 TSEK in Q1 2025); cash and cash equivalents: 16,974 TSEK (2,055 TSEK in Q1 2025).

• Total cash flow for Q1 2026 was 10,054 TSEK (380 TSEK in Q1 2025).

Outlook and guidance

• Continued focus on advancing Haveri and Åkerberg gold projects through drilling, technical, and environmental studies.

• Strategic intent to demonstrate commercial mineral assets and expand through exploration and acquisition.