Q2 2025
report and presentation
Oslo, August 7, 2025
Ståle Rodahl, Executive Chairman Øivind Dahl-Stamnes, CEO
Financial Highlights
Q2 underlying EBITDA was NOK 0,58m negative
Cost cuts lowering quarterly cash run-rate by approx. 80% from 2024 levels have been implemented
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Q2 & subsequent
highlights
06.08.2025
- US Executive order signed in April 2025 underpins global momentum in DSM
Sovereign states taking the lead
- Authorities preparations towards 1st license round in Norway continues
NOK 150 mill allocated to exploration in 2025 budget (up 5x vs previous years). Add'l data released
New discoveries being made
License awards expected Q2 2026
- Optionality secured through runway extension
Cost cuts and guaranteed rights issue
Maintaining competency while reducing capacity
- Bitcoin Treasury Strategy adopted
Supporting operational strategy
Cost of initial purchase: USD 105,994
BTC P&L per 6/8: NOK 0,42m*
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Increased investments into copper exploration
Mineral exploration budgets (green
curve) and resultant discovery rates (orange and grey bars) of new copper deposits in the period
1990-2022
From: Herrington, R. J., 2024 Centre for Resourcing the Green
Economy, The Natural History Museum,
London.
Herrington, R. J., 2024 Centre for Resourcing the Green Economy, The Natural History Museum,London.
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