Archelon Natural Resources (ALONNR) Q3 2024 earnings summary

Executive summary

• Net sales for Q3 2024 reached 3 Tkr, up from 0 Tkr in Q3 2023; operating loss improved to -936 Tkr from -1,016 Tkr; net loss after tax was -673 Tkr versus -1,016 Tkr year-over-year.

• For the nine months ended September 2024, net sales were 3 Tkr, operating loss -3,134 Tkr, and net loss after tax -2,237 Tkr, an improvement from -3,056 Tkr in the prior year.

• Strategic focus on critical raw materials and gold projects, including a transformative acquisition in Norway and government approval for a key gold concession in Sweden.

Financial highlights

• Q3 2024 EPS was -0.058 kr, compared to -0.002 kr in Q3 2023; nine-month EPS was -0.192 kr, compared to -0.005 kr year-over-year.

• Cash and cash equivalents at September 30, 2024, were 1,778 Tkr, down from 5,246 Tkr a year earlier.

• Equity at period end was 5,254 Tkr, down from 11,347 Tkr at September 2023.

• Cash flow from operations for the nine months was -2,845 Tkr, compared to -3,076 Tkr year-over-year.

Outlook and guidance

• Ongoing development of gold and critical raw material projects, with plans to list Archelon REE AB and partially distribute shares to ANR shareholders in 2025.

• Strengthened capital base through a rights issue to capitalize on new opportunities from recent project approvals and acquisitions.