Mahvie Minerals (MAHVIE) Q4 2024 earnings summary

Executive summary

• No revenue generated in Q4 or full year 2024; focus remains on exploration and project development.

• Net loss after tax improved to -928 TSEK in Q4 2024 from -1,663 TSEK year-over-year; full-year net loss after tax was -4,969 TSEK, an improvement from -6,828 TSEK.

• Key activities included initial ore modeling at Haveri and a directed share issue raising approximately 1.9 MSEK.

• Post-period, an EGM approved the share issue and drilling permits were secured for the Haveri gold project.

Financial highlights

• Q4 2024 net loss after tax: -928 TSEK (Q4 2023: -1,663 TSEK); EPS: -0.02 SEK (Q4 2023: -0.04 SEK).

• Full-year 2024 net loss after tax: -4,969 TSEK (2023: -6,828 TSEK); EPS: -0.12 SEK (2023: -0.29 SEK).

• Equity at year-end: 32,214 TSEK (2023: 35,783 TSEK); cash and cash equivalents: 1,676 TSEK (2023: 5,645 TSEK).

• Cash flow from operations in Q4: -641 TSEK (Q4 2023: -3,074 TSEK); total Q4 cash flow: 529 TSEK (Q4 2023: 2,831 TSEK).

• Solidarity ratio at year-end: 81.5% (2023: 82.9%).

Outlook and guidance

• Short-term focus on advancing the Haveri gold project in Finland; Mofjell base metal project in Norway to follow.

• Market conditions for gold, copper, and zinc remain favorable, supporting project development.