Mahvie Minerals (MAHVIE) Q2 2024 earnings summary

Executive summary

• No revenue generated in Q2 or H1 2024; company remains in exploration and development phase.

• Net loss after tax for Q2 2024 was -1,994 TSEK, nearly unchanged from Q2 2023.

• H1 2024 net loss after tax improved to -3,274 TSEK from -3,797 TSEK in H1 2023.

• Focus remains on advancing the Mofjell zinc project and Haveri gold project.

Financial highlights

• Q2 2024 net loss after tax: -1,994 TSEK (Q2 2023: -1,992 TSEK); EPS: -0.05 SEK (Q2 2023: -0.09 SEK).

• H1 2024 net loss after tax: -3,274 TSEK (H1 2023: -3,797 TSEK); EPS: -0.08 SEK (H1 2023: -0.22 SEK).

• Solid equity position at 32,603 TSEK as of June 30, 2024 (June 30, 2023: 28,146 TSEK); equity ratio 81.2%.

• Cash and cash equivalents at period end: 2,677 TSEK (Q2 2023: 4,100 TSEK).

• No new share issues or financing activities in Q2 2024.

Outlook and guidance

• Continued focus on defining commercial mineral assets and advancing both zinc and gold projects.

• New drilling programs planned, contingent on securing additional financing.