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Third party research

Botnia Gold: Starkt guldpris ger bra kassaflöde - Analysguiden

Botnia Gold

This is a third party research report and does not necessarily reflect our views or values

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Botnia Gold avslutade året med ett starkt guldpris och högt processutbyte, vilket ger goda kassaflöden trots utmaningar i malmkvalitet. Årets sista anrikningskampanj genererade 96 kg guld till ett värde av drygt 116 MSEK, vilket lyfter helårsintäkterna till 242 MSEK. Processutbytet på 96,6 % – klart över kalkylen – visar på stabil drift hos Dragon Mining, medan hög sidobergsinblandning fortsatt pressar halterna. En pågående blockmodell-avstämning väntas klar till Q4-rapporten i februari 2026. Vi justerar våra prognoser marginellt nedåt och sänker motiverat värde till 13–18 kr per aktie (tidigare 15–20), med uppsida vid högre guldpris och fortsatt prospekteringsframgång.