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Eurobattery Minerals Reports Strategic Advances in Q3 2024

Eurobattery Minerals AB published its Q3 2024 interim report, highlighting significant strategic advancements. The company finalized its acquisition of FinnCobalt Oy, securing full ownership of the nickel-cobalt-copper Hautalampi project. This move solidifies its standing in the European battery mineral supply chain. Eurobattery extended its Letter of Intent with Tungsten San Juan and applied for the Hautalampi project to gain Strategic Project status under the CRMA, with an EU decision expected in December.

A strategic offtake agreement with Boliden AB was signed, establishing a ten-year purchase commitment for Hautalampi copper concentrates. Financially, the firm reported an operating loss reduction to SEK -4,464 thousand, with earnings per share improving compared to Q3 2023. Despite net sales of SEK 0, the upcoming SEK 35.5 million rights issue is anticipated to bolster financial stability.

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