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26 May, 2023

Northgold Releases Interim Report for January-March 2023

Financial highlights of first quarter 2023 (Group, consolidated)

  • Net sales amounted to KSEK 0 (Q1 2022: KSEK 0).
  • Operating profit/loss after financial items totaled KSEK -3,658 (Q1 2022: KSEK -3,026).
  • Earnings per share after financial items amounted to SEK -0.3 (Q1 2022: SEK -0.3).
  • Cash flow from operating activities was KSEK –2,519 (Q1 2022: KSEK -307).

Significant events in the first quarter

  • Drill results extend the Kopsa deposit along strike to the west (16 January 2023).
  • Northgold submits auxiliary mine area permit application for the Kopsa gold and copper project (26 January 2023).
  • Northgold acquires Northern Aspect Resources Oy and carries out a directed issue of shares in connection with the acquisition (8 February 2023).
  • Northgold resolves on a directed share issue of MSEK 10.4 to fund continued exploration and development activities (8 February 2023).
  • Northgold announces remaining gold assays from 2022 drilling at Kopsa, including more broad-width low-grade and narrower high-grade intercepts (7 March 2023).

Significant events after the period

  • Northgold releases gold assays from 2022 drilling at Kiimala Trend, announces 2023 exploration plans, and commences drilling at flagship Kopsa project (13 April 2023).
  • Copper assays from 2022 drilling at Kopsa gold-copper project result in a significant 20% increase in metal value to the previously reported gold assays (22 May 2023).

For the full report, please download the attached PDF. The full report is also available at: www.northgoldab.com/investors, under Financial Reports.

For additional information, please contact the CEO:
“Mitch Vanderydt”
Mitchell J. Vanderydt, P.Eng, MBA
Email: ir@northgoldab.com
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. Visit www.northgoldab.com for more information. Augment Partners AB, tel. +46 8-604 22 55 info@augment.se, is acting as the Company's Certified Adviser.

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