Press the button and be introduced to a new random company!

Introduce me >

Social media

facebook   Follow us on Twitter

Coverage

Copperstone Resources

Copperstone Resources

Send subscription Close

Copperstone Resources AB (“Copperstone”) is a Swedish mineral exploration company. The company's flagship project is re-opening the Viscaria copper mine in the recognised mining district of Kiruna in Northern Sweden. Currently, the company is working on obtaining an environmental permit for the Viscaria mine, as well as making preparations for mining operations to commence. When operating at full capacity, the plan is for Viscaria to produce 30,000 tonnes of copper per annum, making it Sweden's second largest copper mine.

Weaker demand for Cu in the global market. Protracted process of obtaining acceptance from the land- and environmental permit. Higher than expected costs.

Financials

SEKm 2022 2023e 2024e
Sales 0 0 394
Sales growth (%) N/A N/A N/A
EBITDA -15 -44 124
EBITDA margin (%) N/A N/A 31,4
EBIT adj. -17 -97 18
EBIT adj. margin (%) N/A N/A 4,6
Pretax profit -22 -127 -44
EPS -0,01 -0,08 -0,02
EPS growth (%) 0 466,6 -78
EPS adj. -0,01 -0,08 -0,02
DPS 0 0 0
EV/EBITDA (x) -132,3 -60,6 33,8
EV/EBIT adj. (x) -118,5 -27,6 232,3
P/E (x) -100,9 -17,8 -81
P/E adj. (x) -120,9 -17,8 -81
EV/sales (x) N/A N/A 10,62
FCF yield (%) -11,6 -31,4 -42,3
Le. adj. FCF yld. (%) -11,6 -31,4 -42,3
Dividend yield (%) 0 0 0
Net IB debt/EBITDA (x) 19,6 -9,4 5
Le. adj. ND/EBITDA (x) 27,6 9,1 4,9
SEKm 2022 2023e 2024e
Sales 0 0 394
COGS 0 0 0
Gross profit 0 0 394
Other operating items -15 -44 -270
EBITDA -15 -44 124
Depreciation and amortisation -5 -53 -106
of which leasing depreciation 0 0 0
EBITA -20 -97 18
EO Items -4 0 0
Impairment and PPA amortisation 0 0 0
EBIT -20 -97 18
Net financial items -2 -30 -62
Pretax profit -22 -127 -44
Tax 0 0 0
Net profit -22 -127 -44
Minority interest 0 0 0
Net profit discontinued 0 0 0
Net profit to shareholders -22 -127 -44
EPS -0,01 -0,08 -0,02
EPS adj. -0,01 -0,08 -0,02
Total extraordinary items after tax -4 0 0
Leasing payments 0 0 0
Tax rate (%) 0 0 0
Gross margin (%) N/A N/A 100
EBITDA margin (%) N/A N/A 31,4
EBITA margin (%) N/A N/A 4,6
EBIT margin (%) N/A N/A 4,6
Pre-tax margin (%) N/A N/A -11,2
Net margin (%) N/A N/A -11,2
Growth Rates y-o-y N/A N/A N/A
Sales growth (%) N/A N/A N/A
EBITDA growth (%) 27,8 196,8 -381
EBITA growth (%) 35,9 376,7 -118,7
EBIT growth (%) 35,9 N/A -118,7
Net profit growth (%) 37,4 466,6 -65,2
EPS growth (%) 0 466,6 -78
Profitability N/A N/A N/A
ROE (%) -2,9 -13,7 -3
ROE adj. (%) -2,4 -13,7 -3
ROCE (%) -2,5 -7,1 0,7
ROCE adj. (%) -2 -7,1 0,7
ROIC (%) -3,5 -9,8 0,9
ROIC adj. (%) -2,9 -9,8 0,9
Adj. earnings numbers N/A N/A N/A
EBITDA adj. -11 -44 124
EBITDA adj. margin (%) N/A N/A 31,4
EBITDA lease adj. -11 -44 124
EBITDA lease adj. margin (%) N/A N/A 31,4
EBITA adj. -17 -97 18
EBITA adj. margin (%) N/A N/A 4,6
EBIT adj. -17 -97 18
EBIT adj. margin (%) N/A N/A 4,6
Pretax profit Adj. -19 -127 -44
Net profit Adj. -19 -127 -44
Net profit to shareholders adj. -19 -127 -44
Net adj. margin (%) N/A N/A -11,2
SEKm 2022 2023e 2024e
EBITDA -15 -44 124
Goodwill N/A N/A N/A
Net financial items -2 -30 -62
Other intangible assets 640 800 920
Paid tax 0 0 0
Tangible fixed assets 62 485 1815
Non-cash items 0 0 0
Right-of-use asset 17 17 17
Cash flow before change in WC -18 -74 62
Total other fixed assets 0 0 0
Change in working capital 1 3 -14
Fixed assets 719 1301 2751
Operating cash flow -17 -71 48
Inventories 0 0 35
Capex tangible fixed assets -60 -475 -1436
Receivables 10 6 23
Capex intangible fixed assets -185 -160 -120
Other current assets 5 5 5
Acquisitions and Disposals 0 0 0
Cash and liquid assets 329 421 1014
Free cash flow -262 -706 -1508
Total assets 1063 1733 3829
Dividend paid 0 0 0
Shareholders equity 986 860 2116
Share issues and buybacks 466 0 1300
Minority N/A N/A N/A
Leasing liability amortisation 0 0 0
Total equity 986 860 2116
Other non-cash items -4 0 0
Long-term debt 22 820 1620
Pension debt N/A N/A N/A
Convertible debt N/A N/A N/A
Leasing liability 17 17 17
Total other long-term liabilities 0 0 0
Short-term debt N/A N/A N/A
Accounts payable 24 22 62
Other current liabilities 14 14 14
Total liabilities and equity 1064 1733 3829
Net IB debt -291 415 623
Net IB debt excl. pension debt -291 415 623
Net IB debt excl. leasing -307 398 606
Capital employed 1025 1696 3752
Capital invested 695 1275 2739
Working capital -23 -26 -12
EV breakdown N/A N/A N/A
Market cap. diluted (m) 2252 2252 3561
Net IB debt adj. -291 415 623
Market value of minority 0 0 0
Reversal of shares and participations 0 0 0
Reversal of conv. debt assumed equity N/A N/A N/A
EV 1962 2668 4184
Total assets turnover (%) 0 0 14,2
Working capital/sales (%) N/A N/A -4,9
Financial risk and debt service N/A N/A N/A
Net debt/equity (%) -29,5 48,3 29,5
Net debt / market cap (%) -12,9 18,4 17,5
Equity ratio (%) 92,7 49,6 55,3
Net IB debt adj. / equity (%) -29,5 48,3 29,5
Current ratio 8,9 11,82 14,14
EBITDA/net interest 7,1 1,5 2
Net IB debt/EBITDA (x) 19,6 -9,4 5
Net IB debt/EBITDA lease adj. (x) 27,6 -9,1 4,9
Interest coverage 7,9 3,2 0,3
SEKm 2022 2023e 2024e
Shares outstanding adj. 1534 1534 2426
Diluted shares adj. 1534 1534 2426
EPS -0,01 -0,08 -0,02
Dividend per share 0 0 0
EPS adj. -0,01 -0,08 -0,02
BVPS 0,64 0,56 0,87
BVPS adj. 0,23 0,04 0,49
Net IB debt/share -0,19 0,27 0,26
Share price 1,47 1,47 1,47
Market cap. (m) 2252 2252 3561
Valuation N/A N/A N/A
P/E (x) -100,9 -17,8 -81
EV/sales (x) N/A N/A 10,62
EV/EBITDA (x) -132,3 -60,6 33,8
EV/EBITA (x) -96,9 -27,6 232,3
EV/EBIT (x) -96,9 -27,6 232,3
Dividend yield (%) 0 0 0
FCF yield (%) -11,6 -31,4 -42,3
Le. adj. FCF yld. (%) -11,6 -31,4 -42,3
P/BVPS (x) 2,28 2,62 1,68
P/BVPS adj. (x) 2,28 2,62 1,68
P/E adj. (x) -120,9 -17,8 -81
EV/EBITDA adj. (x) -176,2 -60,6 33,8
EV/EBITA adj. (x) -118,5 -27,6 232,3
EV/EBIT adj. (x) -118,5 -27,6 232,3
EV/CE (x) 1,9 1,6 1,1
Investment ratios N/A N/A N/A
Capex/sales (%) N/A N/A 394,8
Capex/depreciation 45,3 12,1 14,7
Capex tangibles / tangible fixed assets 96,5 98 79,1
Capex intangibles / definite intangibles N/A N/A N/A
Depreciation on intang / def. intang N/A N/A N/A
Depreciation on tangibles / tangibles 8,7 10,83 5,82

Equity research

Read earlier research

Media

Copperstone Resources - Company presentation with CEO Anna Tyni & Head of Business Development Michael Mattsson
Copperstone Resources - Company presentation with CEO Anna Tyni & Head of Bus. Dev. Michael Mattsson

View more media

Main shareholders - Copperstone Resources

Main shareholders Share capital % Voting shares % Verified
Thomas von Koch 9.6 % 9.6 % 16 Jan 2023
JRS Asset Management AB Client Account 6.6 % 6.6 % 28 Dec 2022
Joheco AB 5.3 % 5.3 % 10 May 2022
Avanza Pension 3.2 % 3.2 % 28 Dec 2022
Jan Ståhlberg 2.8 % 2.8 % 28 Dec 2022
Håkan Roos (RoosGruppen) 2.6 % 2.6 % 28 Dec 2022
Nordnet Pensionsförsäkring 2.4 % 2.4 % 28 Dec 2022
Santhe Dahl 2.1 % 2.1 % 28 Dec 2022
Michael Mattsson 1.8 % 1.8 % 22 Aug 2022
Futur Pension 1.6 % 1.6 % 28 Dec 2022
Source: Holdings by Modular Finance AB