Nidhogg Resources (NIDHOG) Q4 2024 earnings summary

Executive summary

• Completed a transformative reverse acquisition, shifting focus from biotechnology to mineral exploration and resource development, with a new board and management team in place.

• Strategic acquisitions and partnerships secured access to significant mineral resources, including iron, manganese, and rare earth elements in Sweden.

• Company expects positive cash flow from trial mining in Tuna-Hästberg and Vintjärn-Kölen by late 2025.

Financial highlights

• Group revenue for the fiscal year (July 2023–June 2024) was 77 TSEK, up from 0 TSEK year-over-year.

• Net loss after tax for the group was -4.2 MSEK (previous year: 0 TSEK); EPS was -0.002 SEK (0 SEK).

• Cash and cash equivalents at year-end were 1,210 TSEK (25 TSEK prior year).

• Parent company reported a net loss of -11.5 MSEK for the year, improved from -18.3 MSEK year-over-year.

Outlook and guidance

• Focus on developing sustainable mineral extraction and energy sector investments, with several promising projects identified for future cash flow.

• No dividend proposed; capital needs expected to be met through upcoming warrant exercises and secured guarantees.