Botnia Gold AB BOTX

First North | Producer | Gold
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Updated: 29 Oct 2026 Base analysis: 13 Aug 2026

The news check keeps the assessment current.

General analysis — not personal advice.

The founder owns or has owned shares in this company within the past 6 months. See About.

HOLD Clear

Existing position can be maintained at current levels.

Profitable production and positive drill results outweigh low cash and execution risks.

Market sentiment Positive ↑
Trend: Improving

The market reacts positively to the extended production plan and strong drill results.

Risk assessment Low
Dilution: Low Positive cash flow reduces financing need
Jurisdiction: Low Sweden is stable mining jurisdiction
Execution: Medium Reliance on external processing plants

HOLD is the call. Positive is the market mood. Low risk means less can go wrong.

Latest change
  • 29 Oct 2026 — Report shows extended production plan and strong drill results driving positive market reaction.

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About the company

Botnia Gold AB is a Swedish mining company in profitable production phase focused on small-scale gold extraction. The main asset is the Fäbodtjärn mine in Västerbotten delivering ore through external processing campaigns. The company shows strong growth and positive cash flow after transitioning to active production.

Sector: Gold
Type: Producer
Next report (Q4)
12 Feb 2027
Catalysts
○
Q1 2027
Resource update High
Bull case

Production plan extended to 2029 and strong drill results at Vargbäcken support longer-term cash flow.

Bear case

Reliance on third-party processing and equipment disruptions may pressure margins in the near term.

Why this signal

Profitable production and positive drill results outweigh low cash and execution risks.

Recent news
  • Q3 report published 28 October showing 248 MSEK revenue for nine months and 256 kg gold produced. Fäbodtjärn production plan extended by nine months into Q2 2029. All 17 core holes at Vargbäcken intersected gold mineralization.

Key figures

Revenue
Q3 2026
SEK 46.0M
Revenue TTM
TTM
SEK 353M
EBITDA
9M 2026
SEK 39.5M
Net income
Q3 2026
SEK -5.5M
Cash
Q3 2026
SEK 67.4M
Total debt
FY 2025
SEK 2.7M
Gross margin
FY 2025
68.8%
Shares outstanding
2026-08-13
40.8M
EPS
Q3 2026
SEK -0.13
Exchange
First North
Type
Producer
Sector
Gold
Botnia Gold AB BOTX
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