The auditor’s report, which is attached to the annual report for 2023, deviates from what is common as a remark is stated by the auditor relating to a significant uncertainty regarding the going concern, as presented below.
Significant uncertainty regarding the going concern assumption
Without prejudice to my opinion above, I would like to draw attention to the statement in the Directors' Report that the company is dependent on further capital injections in 2024 to ensure its continued operation. The board is negotiating with external stakeholders for a long-term solution to strengthen the company's liquidity and equity. It is the board's assessment that there are good opportunities for continued financing. The above indicates that there is a material uncertainty, which may cast significant doubt on the company's ability to continue as a going concern.
The comment from the auditor is based on the fact that
“In geopolitical terms, 2023 was a complicated year, but at
Strategic and operational highlights 2023
- Finnish Hautalampi battery mineral mine: In March,
Eurobattery Minerals announced thatFinnCobalt Oy had completed the pre-feasibility study for its Finnish Hautalampi mining project, with a positive outcome. In May,Eurobattery Minerals announced that the Hautalampi ore reserves and minerals resources reserves have been classified in the highest categories as viable mining projects under the United Nations Framework Classification for Resources (UNFC). In June, it was announced that Tukes (theFinnish Safety and Chemicals Agency ) has entered the Hautalampi mining right (K7802) in the mining register pursuant to the Mining Act (503/1965).
- Spanish Corcel mine project: The Company submitted all necessary information for environmental and operating permits for Corcel in
August 2022 . The Company continues to await a positive decision from theEnergy and Mining Authority of Galicia .
Detailed financial information
The 2023 Annual Report of
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