Minesto AB (publ) (MINEST) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello and welcome to today's broadcast with Minesto, where CEO Martin Edlund will present a report for the first quarter of 2025. After the presentation, there will be a Q&A, so if you have any questions, you can send them in via the form to the right. And with that said, I hand over the word to you, Martin. Thank you very much. And hi, everyone. It's quite impressive to see the interest in an update from Inesto like this. So I think this is a good format that we will keep going with. Unfortunately, today, my colleague and brothers in arms, Gustav Kvibling, our CFO, is not available this morning. So I will attend to and focus a lot on strategy, content, progress, technology, all the areas that I'm driving in Minesto. And we will also... have room for quite some questions. I just heard from the organizer here that a lot of questions has come in just lately. So I try not to be too lengthy with my run through to be able to cover as many of those questions as possible. And we'll try to stay within the hour that we have set aside for this. So first, on technology and the status of our operations in Westmanna over the winter and first quarter here, we published in January the results or shared results in general on the large third party valuation of our production during 2024 with a big commercial scale D12. And I think the main takeaway from that is that the next natural step, as DNV puts it, the next natural step for Minesto is a scale-up in number of units into a dragon farm aiming for Hestfjord. And with our internal work over the first quarter, I think we can just underline that the technology is in really good shape and ready for that scale-up. And if we look at the operations and the work we're doing in Westmanna, there are basically three areas here, three purposes...