Company Secures Support for Norra Kärr Mining Application and Reports Financial Update

The Company received endorsement from the County Administrative Boards of Jönköping and Östergötland for its Norra Kärr mining lease application. It was accepted as a Project Partner by EIT Raw Materials. A net loss of $745,946 was reported for Q1 2026, with an accumulated deficit of $53,315,169 as of January 31, 2026. The Company is focused on maintaining the Woxna Graphite Mine and exploring future development opportunities, while geopolitical tensions highlight the urgency for local supply chains in Europe.

Published Mar 21, 2026

On December 3, 2025, the Company announced that the County Administrative Boards of Jönköping and Östergötland endorsed its application for a 25-year mining lease for Norra Kärr. The Mining Inspectorate has recommended approval to the Swedish Government.

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The Company reported a net loss of $745,946 for Q1 2026, with an accumulated deficit of $53,315,169. It is maintaining Woxna Graphite Mine on a production-ready basis and reviewing options for partnerships.

The need for secure critical raw materials in Europe is emphasized due to geopolitical instability. The Company anticipates needing additional capital for operations and project developments.