Nidhogg Resources (NIDHOG) Q3 2025 earnings summary

Executive summary

• No revenue generated in Q3 2025; net loss after tax was -432 TSEK compared to -5 TSEK in Q3 2024.

• Cash position at period end was 2,573 TSEK; equity totaled 3,205 TSEK.

• Focused on permit applications and groundwork for Vintjärn and Tuna Hästberg mining projects.

• Entered non-binding agreement to acquire 95% of Al-Baraka, an Egyptian gold project, for up to $1M.

Financial highlights

• Revenue for the quarter was 0 TSEK, unchanged from the previous year.

• Net loss after tax was -432 TSEK, a deterioration from -5 TSEK year-over-year.

• Earnings per share for the quarter were -0.05 SEK, down from -0.0006 SEK in Q3 2024.

• Cash and cash equivalents at quarter end were 2,573 TSEK.

• Equity ratio stood at 94%; quick ratio at 779%.

Outlook and guidance

• Ongoing due diligence for the Egyptian gold project, with first payment due by July 25, 2025.

• Additional geophysical surveys planned between Vintjärn and Kölen to support potential mine restart.

• Continued focus on permit processes and stakeholder engagement for Swedish mining assets.