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23 May, 2024

Northgold AB Interim Report January–March 2024: a remarkable 37% increase in gold equivalent resources

Stockholm, 23 May 2024. Northgold AB (Nasdaq First North Growth Market: “NG”, “Northgold” or the “Company”) today published its Interim report for the first quarter 2024.

Financial highlights of first quarter 2024 (Group, consolidated)

  • Net sales amounted to KSEK 0 (Q1 2023: KSEK 0).
  • Operating profit/loss after financial items totalled KSEK -2,533 (Q1 2023: KSEK -3,658).
  • Earnings per share after financial items amounted to SEK -0.2 (Q1 2023: SEK -0.3).
  • Cash flow from operating activities was KSEK -1,779 (Q1 2023: KSEK -2,519).

Significant events during the first quarter

  • Kopsa gold-copper resource increased 37% to 0.75 million gold-equivalent ounces with 10% grade increase to 1.13 grams per tonne gold equivalent.
  • Northgold AB successfully completed an accelerated bookbuilding of approximately SEK 7 million.
  • Electromagnetic survey identified new exploration targets beneath and Southwest of the Kopsa resource.
  • The most important exploration permit in Kiimala Trend became valid.

For the full report, please download the attached PDF. The full report is also available at https://northgoldab.com/financial-reports/.

Further information
Seppo Tuovinen, CEO of Northgold AB
Website: www.northgoldab.com
Follow us: www.linkedin.com/company/northgold

About Northgold
Northgold is a Swedish-listed gold exploration and development Company focused on advancing multiple, co-located, resource-stage projects in the Middle Ostrobothnia Gold Belt (MOGB) of Central Finland, including the Kopsa Gold-Copper project, the Kiimala Trend Gold project, and the Hirsikangas Gold project. The Company strives to grow its gold mineral resources, make new gold discoveries, and ultimately extract gold from these under-explored areas in Central Finland.www.northgoldab.com. Augment Partners AB, tel. +46 8-604 22 55 info@augment.se, is acting as the Company's Certified Adviser.

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