- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
Purpose Bitcoin ETF
Soma Gold Corp.
Black Swan Graphene
Fidelity Advantage Bitcoin ETF
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Nordic Raises A$2.05 Million to Advance Critical Minerals Projects in Finland
Resource update and Phase 2 drilling scheduled for early 2024
Nickel sulphide explorer Nordic Nickel Limited (ASX: NNL; Nordic, or the Company) is pleased announce the successful completion of a A$2.05 million (before costs) capital raising to support the Company’s ongoing exploration and project development activities in Finland.
HIGHLIGHTS
- Firm commitments received to raise over A$2.05 million through a placement at A$0.14 per share, representing a 12.5% discount to the 15-day VWAP.
- The placement was well supported by existing shareholders, Directors and new sophisticated investors, demonstrating the continued and long-term belief in the Company’s critical minerals projects and development strategy in Europe.
- In addition to the shares, participants will be granted 1 free unlisted option for every 2 shares purchased. These options have a strike price of A$0.25 and a two- year expiry.
The funds raised through the placement will allow the Company to advance towards its goal of becoming a major long-term European supplier of sustainably sourced, traceable, class-1 nickel sulphides through its two district-scale nickel-copper-cobalt exploration assets in Northern Finland. The Company’s flagship Pulju Project is known to host both shallow, disseminated nickel sulphides and high-grade massive sulphides and already has a maiden 133.6Mt JORC (2012) Mineral Resource Estimate containing 278,520t Ni and 12,560t Co1, based on shallow historical drilling.
The Company commenced its maiden drilling campaign in January 2023 at the Hotinvaara prospect within the Pulju Project and has reported multiple wide nickel intersections which highlight strong potential for resource growth. With the completion of this capital raise, the Company is now planning its Phase 2 drilling program, which is scheduled re-commence in early 2024 with a specific focus on both following up vectors to high-grade massive sulphide potential and increasing the size of the known resource.
Use of Funds – Pulju Project Acceleration
The majority of the funds raised through the placement will be allocated to exploration activity and diamond drilling at the Hotinvaara prospect at the Company’s Pulju Project in Finland, targeting both high-grade massive sulphide zones and expanding the existing Mineral Resource Estimate (MRE).
In addition to the exploration activity, the Company will use the funds to complete the metallurgical test-work studies for the Hotinvaara prospect, which will provide valuable insights into the ore characteristics and the potential concentrate grade achievable.
The Hotinvaara Prospect represents less than 2% of Nordic Nickel’s landholding at Pulju and the Company has identified at least another nine prospective zones as big or bigger than Hotinvaara throughout the Pulju Belt. A second Exploration Licence, three times the size of the Hotinvaara Prospect and called Holtinvaara, has recently been granted and represents a very exciting and highly prospective area of the Pulju Belt that has never been drill tested.
With the funds raised through this placement, the Company can now complete its review of the geological data available across the entire 240km2 land package at Pulju and complete its regional target prioritisation to identify and prioritize exploration opportunities beyond currently drilled areas.
Management Comment
Nordic Nickel Managing Director, Todd Ross, said:
“We are very pleased with the outcome of this successful capital raise in what remains a challenging market. We are grateful for the support received from both existing and new shareholders, and we are excited to continue with our plans and commitments to unlock the full potential of our exciting exploration projects in Finland.
“We look forward to executing our exploration plans and the upcoming catalysts for the Company, including assay results, resource updates and metallurgical test work – all of which will play a crucial role in showcasing the value and growth potential of our assets in Finland.”
Upcoming Catalysts and Work Program
The Company has an exciting work program planned at the Pulju Project over the next 12 months which is expected to deliver a number of strong value creation catalysts for shareholders.
Proposed upcoming work programs and key catalysts include:
- Remaining Assay Results from 2023 Drill Program: Release of the final assay results from the last five holes of the 2023 drill program before the end of the year.
- Resource Model Update (Early 2024): Results from all 28 holes drilled this year are being added to the existing resource model, with an updated Mineral Resource Estimate (MRE) expected to be announced early 2024. This updated resource is anticipated to be significantly larger than the previous one.
- Q1 2024 Drilling Program: Planned drilling of 8-12 diamond drill holes strategically targeting highly prospective zones and designed to test the high-grade potential at Hotinvaara and build on the existing MRE.
- Mid-2024 Resource Update: Q1 2024 drilling results will be added to the Resource for a second update in mid-2024.
- Metallurgical Test Work (Mid-2024): Completion of metallurgical test work in mid-2024 to confirm the potential for commercially producing a high-quality nickel concentrate.
- Strategic Discussions (2024): Ongoing strategic investor and joint venture discussions with various interested parties are expected to be finalized in 2024.
Click here for the full ASX Release
This article includes content from Nordic Nickel, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Nordic Nickel Investor Kit
- Corporate info
- Insights
- Growth strategies
- Upcoming projects
GET YOUR FREE INVESTOR KIT
Nordic Nickel
Investor Insight
Nordic Nickel presents investors an opportunity to gain exposure to the European Union’s critical minerals play, with its highly prospective nickel deposit at its flagship Pulju project in Northern Finland - a tier 1 jurisdiction with a long mining history.
Overview
Nordic Nickel (ASX:NNL) is a nickel sulphide and battery minerals exploration and development company focused on becoming a major supplier of sustainably sourced, traceable, high-purity class 1 nickel and battery minerals through its portfolio of highly prospective assets in Finland. A highly credentialed team with a solid track record and experience throughout the mining industry leads the company in executing its exploration and development strategy.
Finland is a Tier-1, mining-friendly jurisdiction with a long mining history in the Central Lapland Greenstone Belt. Additionally, the country is incentivising battery mineral projects and is positioned to become a major player in the full battery value chain, making it an ideal jurisdiction for exploration and development.
The European Union Critical Raw Materials Act includes nickel as a critical mineral and will play a vital role in the transition to clean energy and decarbonization.
Nordic Nickel’s 100-percent-owned flagship Pulju project already has a JORC-compliant mineral resource estimate of 418 million tons at 862,800 tons of nickel, 40,000 tons of cobalt and 22,100 tons of copper .
The Pulju project’s unique mineralisation is amenable to a dual exploration strategy of both near-surface disseminated nickel as well as high-grade massive sulphide lenses. The project is in an area of known mineralisation and several major discoveries, including the 304-Mt, open-pit nickel, copper, gold, Kevitsa Mine, owned by Swedish mining company Boliden, and the world-class 44-Mt Cu-Ni-PGE Sakatti Deposit discovered by Anglo American. Historical drilling has been shallow with no modern geophysics, which Nordic Nickel has now undertaken. Multiple electromagnetic anomalies have been identified.
In 2023, Nordic Nickel secured an additional exploration licence (EL) for the Pulju project. The newly granted EL, known as Hotinvaara, is highly prospective for nickel sulphide mineralisation and is three times the size of the Hotinvaara prospect, which has been the focus of Nordic’s maiden exploration program and the company's resource development activities to date.
Nordic Nickel released an updated mineral resource estimate (MRE) for the Hotinvaara prospect which increased to 418 million tons (Mt) @ 0.21 percent nickel, 0.01 percent cobalt and 53 parts per million (ppm) copper for 862,800 tons of contained nickel, 40,000 tons of contained cobalt and 22,100 tons of contained copper. Indicated resource is now 42 metric tons @ 0.22 percent nickel, for 92,700 tons of contained nickel, and inferred resource of 376 metric tons @ 0.21 percent nickel, for 770,100 tons of contained nickel. The updated MRE effectively establishes Pulju as a globally significant nickel sulphide project, given its proximity to the fast-growing European battery materials and EV sector.
Nordic Nickel’s second project, the Maaninkajoki 3 (MJ3) asset, comprises 30 square kilometers of exploration licenses and is also in a region of known mineralisation or similar mafic/ultramafic lithologies to the nearby Sakatti deposit. The company has an earn-in agreement to acquire 75 percent of the asset as exploration continues.
A management team with a range of expertise throughout the mining industry builds confidence in the company’s goal to explore its assets fully. Expertise includes corporate administration, geology and international finance.
Company Highlights
- Nordic Nickel is an Australian listed exploration and development company focusing on its district-scale class 1 nickel and battery minerals assets in Northern Finland.
- The recently enacted European Union Critical Raw Materials Act (CRMA) includes nickel as a critical mineral importantly now requires 10 percent of all critical minerals to be sourced from Europe (when presently there is less than 3 percent produced). Additionally, there are only two nickel-producing mines in Europe, both of which are located in Northern Finland (near Nordic’s Pulju project), and exploration and development activities will benefit from future EU incentives.
- Nordic Nickel’s flagship Pulju project already has a near-surface JORC-compliant resource which was recently updated in March 2024 following an extensive diamond drilling campaign in 2023. This JORC Mineral Resource Estimate (MRE) is contained within the Hotinvaara Prospect at the Pulju Project which covers just 2 percent of the company’s 240 km2 landholding at the Pulju project.
- The updated JORC MRE completed for the Hotinvaara prospect increased over three times from the 2023 drilling to 418 Mt @ 0.21 percent nickel, 0.01 percent cobalt and 53 ppm copper for 862,800 tons of contained nickel, 40,000 tons of contained cobalt and 22,100 tons of contained copper. Indicated resource is now 42 metric tons @ 0.22 percent nickel, for 92,700 tons of contained nickel and inferred resource is 376 metric tons @ 0.21 percent nickel, for 770,100 tons of contained nickel.
- The company’s second Maaninkajoki 3 project covers 30 square kilometers of exploration licenses, and the company has the option to earn up to 75 percent.
- An experienced management team with a track record and deep expertise in the natural resources industry leads the company.
Key Projects
Pulju Nickel Project
The company’s 100-percent-owned flagship Pulju project covers 240 square kilometers of land in Finland's Central Lapland Greenstone Belt. Nordic Nickel has completed a maiden diamond drilling campaign with 15,423 meters completed since the beginning of 2023.
Project Highlights:
- Prolific Resource Estimate with Expansion Potential: Since the maiden resource was released Nordic Nickel has completed an additional 15,432-meter drill campaign which has substantially expanded the areas of known mineralization and will see a much larger mineral resource estimate. Additionally, the company remains focused on targetting Sakatti-style analogues of high-grade massive sulphides.
- Promising Geology: The regional geology of the project is amenable to rich nickel deposits. The presence of ultramafic rocks mirrors the Sakatti and Kevitsa deposits. The project contains a 35-kilometer continuous prospective strike with considerable blue-sky potential as exploration continues.
- Significant Assay Results: Nordic Nickel completed 28 diamond drill holes for 15,432 meters as part of its maiden drilling program. Assays have returned extensive zones of nickel sulphide mineralisation, including zones of higher-grade massive stringer sulphides.
- Updated Mineral Resource Estimate for Hotinvaara: Updated MRE for the newly granted Hotinvaara exploration licence comprises 418 Mt grading 0.21 percent nickel, 0.01 percent cobalt and 53 ppm copper for 862,800 tons of contained nickel, 40,000 tons of contained cobalt and 22,100 tons of contained copper.
Maaninkajoki 3 (MJ3) Nickel Project
Nordic Nickel’s MJ3 Project covers 30 square kilometers of exploration licenses. The asset is subject to an earn-in agreement, which gives the company the right to acquire up to 75 percent of the project over two stages. The project is highly prospective for both intrusive-hosted and komatiite-hosted nickel sulphide mineralization.
Management Team
Todd Ross - Non-executive Chairman
Todd Ross has over 26 years of experience in finance, derivatives and corporate advisory within the natural resources sector. He is the former managing director and head of Western Australia for BNP Paribas. Ross is a specialist in project and acquisition financings across a range of commodities across multiple jurisdictions. His previous roles include senior positions at BNP Paribas, Westpac, Royal Bank of Canada, CBA and Oakvale Capital. Ross holds a Bachelor of Business from Edith Cowan University and a Graduate Diploma in Applied Finance & Investment from FINSIA.
Marcello Cardaci - Non-executive Director
Marcello Cardaci is the former partner of Gilbert & Tobin’s Corporate Advisory Group. He has 26 years’ experience advising public and private equity fundraisings, M&A and divestment. Cardaci has extensive experience in capital raisings, takeovers, schemes of arrangements and joint ventures. His current directorships include ASX-listed Altamin Limited and Manhattan Corporation Ltd. Cardaci holds law degrees (BJuris, LLB) and commerce (BCom).
Robert Wrixon - Executive Director
Robert has over 22 years of experience in corporate strategy, mining M&A and mineral exploration. He is the director of Starboard Global Ltd, private equity and incubation of projects in the metals and mining sector. His current directorships include Rafaella Resources, Emmerson PLC. Wrixon holds a PhD in mineral engineering from the University of California, Berkeley.
Juho Haverinen - Non-executive Director
Juho Haverinen has over ten years of experience in planning and overseeing mineral exploration in Finland and is currently head of exploration for Magnus Minerals Oy. He has significant experience in Finland with exploration joint ventures with major multinational mining companies and is a member of the board of the Finnish Mining Association (FinnMin) and a board member of Magnus Minerals Oy. Haverinen holds BSc and MSc geology degrees from the University of Helsinki.
Aaron Bertolatti - Company Secretary and CFO
Aaron Bertolatti is a qualified chartered accountant and company secretary with over 15 years of experience. He has significant experience in the administration of ASX-listed companies, corporate governance and corporate finance. He was previously CFO of Highfield Resources Ltd and American Pacific Borates.
Vern Langdale - Country Manager, Finland
Vern Langdale is a mining veteran with 38 years of experience across various roles in mining projects and mines from many countries. He studied mining engineering at the Camborne School of Mines in Cornwall, England and started his career working in gold mines in the Goldfields of Australia. Langdale has been involved with building and commissioning mines often in challenging and remote locations in China, Indonesia and Saudi Arabia. In 2018, he moved to Finland with Nordic Gold. Langdale worked as director of operations for Endomines AB at its US and Finnish operations, where he provided support in the re-start of its mining operations. He was also mine manager at the Nordic Gold in Finland. He was the project manager for Jac Rijk Al Rushaid in Saudi Arabia, where he coordinated the work of a multi-lingual and multi-national workforce for the largest gold mining project of the Ma’aden Gold Group.
Pekka Tuomela - Sustainability & ESG Manager, Finland
Pekka Tuomela has a master of science in geology from the University of Oulu, Finland and an impressive career spanning over 20 years in exploration and mining projects in Finland and internationally, at all project phases. Tuomela has a solid understanding of the Finnish environmental and mining permitting regime, mining ESIAs and associated ESG/CSR sustainability practices including stakeholder communication. In addition, he advises on mineral intelligence and mineral economics policy and strategy matters.
Blackstone Completes Institutional Component of Entitlement Offer
Blackstone Minerals Limited (“Blackstone” or the “Company”) is pleased to announce that it has completed the institutional component (“Institutional Entitlement Offer” or “Institutional Offer”) of its partially underwritten accelerated non-renounceable pro rata entitlement offer as announced on 4 November 2024 (“Entitlement Offer” or “Offer”).
HIGHLIGHTS
- Completion of the Institutional Entitlement Offer with firm commitments received from Nanjia Capital Limited of approximately $550k.
- Commencement of retail component of the Entitlement Offer on Monday 11 November 2024.
- Retail offer partially underwritten by supportive long term shareholder, Nanjia Capital with $1.65 million firm commitment and underwriting which includes an approximate $1.1m retail offer underwriting component.
- Proceeds to support the Wabowden Project opportunity, the ongoing Definitive Feasibility Study (“DFS”) for Blackstone’s Ta Khoa Refinery and progress Blackstone’s strategic partnership process.
- Opportunity for our existing shareholders to participate in the capital raising on the same terms as the institutional shareholders.
The Entitlement Offer is supported by major shareholder Nanjia Capital Limited and controlled entities with a firm commitment to subscribe for entitlements under the Institutional Entitlement Offer up to approximately $550k and an agreement to underwrite the Retail Entitlement Offer up to approximately $1.1m (i.e. for a total investment of approximately A$1.65 million).
Institutional Entitlement Offer
The Institutional Entitlement Offer opened on Monday, 4 November 2024 and closed on Tuesday, 5 November 2024 raising approximately $550k at the offer price of $0.03.
Under the Entitlement Offer, eligible shareholders are invited to subscribe for one (1) New Share for every four (4) existing Shares held at an offer price of $0.03 per share.
The Company’s shares will recommence trading today on the ASX on an ex-entitlement basis.
All New Shares issued under the Entitlement Offer will rank equally with the existing Shares on issue. The Company will apply for quotation of the New Shares issued under the Entitlement Offer.
Retail Entitlement Offer
Retail shareholders with a registered address in Australia, New Zealand, Bermuda, British Virgin Islands, Brunei, Canada (British Columbia), Singapore, Germany, Hong Kong, Isle of Man, Thailand, Vietnam or the United Kingdom at 4.00pm (AWST) on Wednesday, 6 November 2024 (“Record Date”) (“Eligible Retail Shareholders”) will be invited to participate in the Retail Entitlement Offer on the same terms as the Institutional Entitlement Offer.
The Retail Entitlement Offer is expected to open at 9.00am (AWST) on Monday, 11 November 2024 and close at 5.00pm (AWST) on Friday, 29 November 2024 (unless extended).
Eligible Retail Shareholders can choose to take up all, or part or none of their Entitlement under the Retail Entitlement Offer.
The Retail Entitlement Offer will be made under the transaction specific prospectus lodged with ASIC and the ASX on Monday, 4 November 2024 (“Prospectus”). The Prospectus will be dispatched to Eligible Retail Shareholders, together with a personalised entitlement and acceptance form on or around Monday, 11 November 2024.
Eligible Retail Shareholders may also apply for New Shares in addition to their Entitlement at the Offer Price, to the extent there is any shortfall under the Retail Entitlement Offer and will be offered on the same terms and conditions as the Retail Entitlement Offer.
Details of Underwriting Agreement
The Retail Entitlement Offer is partially underwritten by Nanjia Capital Limited (an entity incorporated in Hong Kong) (”Nanjia Capital” or “Underwriter”).
The Underwriter is a substantial shareholder of the Company, which had a relevant interest in 76,856,464 Shares as at the date of the Prospectus. The Underwriter has agreed to underwrite the Retail Entitlement Offer up to approximately $1,100,000.
The obligation of the Underwriter to underwrite the Retail Entitlement Offer is subject to certain events of termination. Refer to Section 7.4(b) of the Prospectus for details regarding the key terms of the Underwriting Agreement.
For further information regarding the application and allocation of Shortfall Shares please refer to Section 3.14 of the Prospectus.
Click here for the full ASX Release
This article includes content from Blackstone Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Launch of $4M Accelerated Partially Underwritten Entitlement Offer
Blackstone Minerals Limited (“Blackstone” or the “Company”) is pleased to announce that it is undertaking a partially underwritten accelerated non-renounceable pro rata entitlement offer of new fully paid ordinary shares in the Company (“Shares”) on the basis of one (1) new Share (“New Shares”) for every four (4) existing Shares held, to raise up to approximately A$4 million (before costs) (“Entitlement Offer” or “Offer”).
HIGHLIGHTS
- Blackstone undertaking an accelerated non-renounceable pro rata entitlement offer to raise up to approximately A$4 million.
- Proceeds to support the Wabowden Project opportunity, the ongoing Definitive Feasibility Study (“DFS”) for Blackstone’s Ta Khoa Refinery and progress Blackstone’s strategic partnership process.
- Partially underwritten by supportive long term shareholder, Nanjia Capital with $1.65 million firm commitment and underwriting which includes an approximate $1.1m retail underwriting component.
- Opportunity for our existing shareholders to participate in the capital raising on the same terms as the institutional shareholders.
Blackstone Minerals’ Managing Director, Scott Williamson, commented:
“On behalf of the Board and Management team, I would like to thank Nanjia Capital for their ongoing support. We look forward to making further progress on our Manitoba Consolidation Strategy as we finalize the TKR Refinery DFS and complete the joint venture partnering process..”
The Entitlement Offer is supported by major shareholder Nanjia Capital Limited and controlled entities with a firm commitment to subscribe for entitlements under the Institutional Entitlement Offer up to approximately $550k and an agreement to underwrite the Retail Entitlement Offer up to approximately $1.1m (i.e. for a total investment of approximately A$1.65 million).
The Entitlement Offer will comprise the issue of up to approximately 132,714,967 New Shares at an offer price of A$0.03 per New Share (“Offer Price”), which represents a 12% discount to the last traded price of A$0.034 on 30 October 2024 and 5-day volume weighted average price.
The Entitlement Offer comprises:
- an accelerated institutional component open to eligible institutional shareholder to be conducted from Monday, 4 November 2024 to Tuesday 5 November 2024 (“Institutional Entitlement Offer” or “Institutional Offer”); and
- a retail component open to eligible retail shareholders anticipated to be conducted from Monday, 11 November 2024 to Friday, 29 November 2024 (unless extended) (“Retail Entitlement Offer” or “Retail Offer”).
The offer ratio and Offer Price for New Shares under the Retail Entitlement Offer are the same as for the Institutional Entitlement Offer.
Details of Entitlement Offer
Under the Entitlement Offer, eligible shareholders are invited to subscribe for one (1) New Share for every four (4) existing Shares held.
The right to subscribe for New Shares under the Entitlement Offer will be non-renounceable (meaning the entitlements to New Shares will not be tradable on ASX or otherwise able to be sold or transferred). If you do not take up your entitlement in full, you will not receive any value in respect of that part of the entitlement you do not take up.
All New Shares issued under the Entitlement Offer will rank equally with the existing Shares on issue. The Company will apply for quotation of the New Shares issued under the Entitlement Offer.
Westar Capital Limited have been appointed as lead manager to the Entitlement Offer (“Lead Manager”).
Conditions of the Entitlement Offer are detailed in the Prospectus (defined below) released on the ASX platform today and the accompanying Appendix 3B to this announcement.
Institutional Entitlement Offer
Institutional shareholders with a registered address in Australia, New Zealand, Bermuda, British Virgin Islands, Brunei, Canada (British Columbia), Singapore, Germany, Hong Kong, Isle of Man, Thailand, Vietnam or the United Kingdom (“Eligible Institutional Shareholders”) will be invited to participate in the Institutional Entitlement Offer on the terms and conditions set out in the Prospectus (defined below).
The Institutional Entitlement Offer opens at 9.00am (AWST) on Monday, 4 November 2024 and will close at 5:00pm (AWST) on Tuesday 5 November 2024.
Eligible Institutional Shareholders can choose to take up all, or part or none of their Entitlement under the Institutional Entitlement Offer.
Eligible Institutional Shareholders may also apply for New Shares in addition to their entitlement at the Offer Price, to the extent there is any shortfall under the Institutional Entitlement Offer. The remaining shortfall will be offered on the same terms and conditions as the Entitlement Offer.
The Company's Shares will remain in a trading halt pending completion of the Institutional Entitlement Offer. It is expected that the trading halt will end at market open on Wednesday, 6 November 2024.
Click here for the full ASX Release
This article includes content from Blackstone Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Ramp Metals
Investor Insights
Ramp Metals’ strategic focus on precious and base metals is essential for various growing industries in the global market. The company is in a compelling position to potentially make a significant gold discovery in a top-tier Canadian mining jurisdiction which is currently underexplored.
Overview
Ramp Metals (TSXV:RAMP) is a grassroots exploration company specializing in precious and base metals, particularly gold and nickel-copper-PGE. The company has two properties, two situated in Northern Saskatchewan, Canada.
The flagship property, Rottenstone SW Claims is situated along a geological structure that historically yielded the highest-grade nickel and platinum group elements (PGE) in Canada. It exhibits remarkable parallels to the Nova-Bollinger nickel-copper mine in Western Australia, which was discovered by Sirius Resources and ultimately sold to IGO Limited for AU$1.8 billion. The Nova-Bollinger mine had an estimated resource of 13.1 million tons (Mt) grading 2 percent nickel, 0.8 percent copper, and 0.07 percent cobalt.The striking similarity between Rottenstone and Nova-Bollinger mine is encouraging and the appointment of Dr. Mark Bennett, the discoverer of the Nova-Bollinger deposit, as a strategic advisor, reinforces Ramp’s belief in the potential of the Rottenstone property. Bennett has over three decades of experience in establishing mines, and played a key role in multiple discoveries, such as the Wahgnion gold mine, the Thunderbox gold mine, and the Waterloo nickel mine, in addition to the Nova-Bollinger nickel-copper mine. Along with Bennett, Ramp Metals has also appointed leading geologists Scott McLean and Richard Murphy, as its strategic advisors to bolster its geology team.
The project’s presence in Saskatchewan is also encouraging for investors given the region’s mining-friendly policies. Saskatchewan was ranked second globally and the top in Canada by the Fraser Institute as the most attractive jurisdiction for mining investment in 2021.
Saskatchewan has gained prominence for its abundant uranium resources, yet its geological diversity presents significant potential beyond this. Exploration for other battery metals in the region has been limited or largely unexplored.
Current Gold Landscape
According to data from the World Gold Council, total gold demand gained a record 5 percent year-over-year to 1,313 tons during the third quarter of 2024, resulting in a series of record-high gold prices during the same quarter. The value of demand rose 35 percent to more than US$100 billion for the first time ever.
A major driver for gold’s growth are global gold ETF inflows, while bar and coin investments dipped 9 percent year-over-year. Gold jewelry consumption declined 12 percent, despite an increase in spending, with the value of demand jumping to 13 percent to more than US$36 billion.
Year-to-date central bank buying remains in line with 2022, despite a notable slowing down in Q3 2024.
Gold application in technology continues to be driven by artificial intelligence, growing 7 percent year-over-year and the “outlook remains cautious,” the World Gold Council report said.
Outlook on Battery Metals
The demand for battery metals will continue to grow, due to a strengthening EV market. S&P Global Mobility's 2024 global sales forecast anticipates battery-electric passenger vehicles will reach approximately 13.3 million units worldwide by the end of 2024, an increase of 40 percent year-over-year. In terms of market share, EVs will constitute around 16.2 percent of the total global passenger vehicle sales in 2024, compared to 12 percent in 2023.
Further, the emerging trend toward high-density batteries using nickel and cobalt, and less lithium, is also expected to boost demand for these metals. As one of the top critical minerals in the US and Canada, nickel projects are likely to see increased funding over the coming years.
There is a strong demand in the market for new, high-quality nickel-copper and lithium opportunities. Rottenstone SW borders Fathom Nickel, which recently secured C$4.6 million in funding and seems to be focusing on a similar geological system. The Rottenstone SW eye structure presents an ideal target for nickel-copper-PGE exploration.
Company Highlights
- Ramp Metals is a precious and base metals exploration company with a focus on exploring high-grade gold and nickel-copper-PGE in Northern Saskatchewan. Ramp intends to uncover a new gold district in a region that is underexplored following its discovery of high-grade gold intercepts, including 73.55 g/t gold over 7.5m.
- The company has two properties covering a total area of 33,886 hectares. Of these, two are located in Northern Saskatchewan – Rottenstone SW Claims and Peter Lake Domain (PLD).
- The company’s flagship project Rottenstone SW property is situated adjacent to a northeast-southwest geological formation connected to the renowned Rottenstone Mine. This mine yielded 40,000 tons of high-grade nickel-copper-platinum group elements (PGE) and gold ore, with grades averaging 3.28 percent nickel, 1.83 copper, and 9.63 grams per ton platinum-palladium-gold.
- The geophysical program at Rottenstone highlights striking similarities with the Nova-Bollinger mine in Australia owned by Sirius Resources, which was eventually sold for AU$1.8 billion.
- Dr. Mark Bennett, founder of Sirius Resources who oversaw the development of the Nova-Bollinger mine, is a strategic advisor to Ramp Metals.
Key Projects
Rottenstone SW Claims
The Rottenstone SW property is approximately 115 kilometers north of La Ronge, Saskatchewan. The property comprises 12 claims encompassing 17,285.5 hectares and is situated adjacent to a northeast-southwest geological formation connected to the renowned Rottenstone Mine. This mine yielded 40,000 tons of high-grade nickel-copper-PGE and gold ore, with grades averaging 3.28 percent nickel, 1.83 copper, and 9.63 grams per ton platinum-palladium-gold.
The company has completed various geophysical surveys including time-domain airborne geophysical measurements (TDEM), and soil sampling, all aimed at identifying potential drill targets. The survey results show striking similarities between Rottenstone SW Claims and the Nova-Bollinger deposit. The Rottenstone SW conductors show a strong correlation with the conductors identified at the Nova-Bollinger deposit. Based on the geophysical survey results, the company has identified four high-priority targets.
The company’s first drill program at the Rottenstone property was completed in April 2024 which led to a new high-grade gold discovery of 73.55 g/t gold over 7.5 meters in drill hole Ranger-01.
The company has expanded the Rottenstone SW claim block to a total of 32,715 hectares. Additional unexplored EM and mag targets are situated on the original claim block with similar signatures to Ranger and Rogue.
Peter Lake Domain Claims
The Peter Lake Domain (PLD) property is situated within the Peter Lake Domain of the Swan River complex in Northern Saskatchewan, Canada, around 260 kilometers northeast of La Ronge, Saskatchewan. The property comprises two mineral deposit claims spanning approximately 1,171 hectares.
Peter Lake Domain has a history of exploration done by earlier operators. The previous exploration work returned surface grab samples of gabbro outcrop with disseminated pyrite and chalcopyrite (SMDI 5545) having values of 1,860 parts per million (ppm) copper, 461 ppm nickel, 41 parts per billion (ppb) platinum and 49 ppb palladium. A historical VTEM survey conducted by Geotech outlined compelling targets. According to Ramp Metals, the earlier operators drilled the property inaccurately and did not properly test the targets that were generated.
The project has the potential to be a major new discovery. Ramp Metals plans to undertake an airborne TDEM survey to build upon historical data and identify exploration targets. Once the targets are identified, the company will implement a drill program of about 2,000 to 2,500 meters.
Management Team
Jordan Black – Chief Executive Officer and Director
Jordan Black brings over 12 years of geotechnical engineering experience for various infrastructure, renewable energy and mining projects. Black was previously the vice-president of business development at GoldSpot Discoveries and worked as a senior geotechnical engineer at WSP Canada.
Garrett Smith – VP Exploration
Garrett Smith graduated with a BSc in geology from the University of Regina. Throughout his career, he has been involved in projects across Western Canada, focusing on various commodities. His extensive expertise ranges from greenfield mapping and exploration to on-site drill management. Driven by a genuine passion for exploration, Smith has dedicated the past few years to assembling a collection of base metal projects in northern Saskatchewan.
Brett Williams – VP Operations and Senior Geologist
Brett Williams is a seasoned geologist with a diverse background, having worked as a mine geologist in both open pit and underground mining, as well as an exploration geologist in the diamond, base metals, gold and uranium sectors for Rio Tinto and SSR Mining. He earned his B.Sc. in geology and a diploma in business administration from the University of Regina. Williams is a registered member of the Professional Engineers and Geoscientists of Saskatchewan.
Prit Singh – Director
Prit Singh is a seasoned capital markets professional and presently serves as the CEO of Thesis Capital, an advisory firm offering support to high-growth companies in fundraising, Canadian market initial public offerings and investor relations. Throughout his career, Singh has collaborated with more than 50 issuers, facilitating fundraising and providing counsel, resulting in the procurement of over $100 million in capital across various emerging sectors. Before establishing Thesis Capital, he gained experience in investment banking and wealth management, fostering enduring relationships within Canada's buy-side and sell-side communities. Singh holds a BBA with a specialization in finance from Brock University.
David Parker – Director
David Parker has more than 15 years of experience in business financing, consulting and recapitalizing public/private companies in the mining, technology, and media sectors. He also has experience in retail, office, and industrial real estate sales and development. He has led projects from initial market analysis to acquisition, design, approval, site servicing, construction and disposition. He understands the financial implications of technical issues and planning policy changes, making him an effective director.
Peter Schloo – Director
Peter Schloo has a decade of experience and expertise in capital markets, operations and assurance, and holds CPA, CA and CFA designations. Additionally, he is a licensed prospector in the province of Ontario, Canada. His track record includes facilitating over C$85 million in associated capital raising opportunities for both public and private enterprises. Currently, he is the CEO, president, and director of Heritage Mining, and a director of Pacific Empire Minerals. His previous roles included CFO of Spirit Banner Capital and VP corporate development and interim CFO for Ion Energy.
Michael Romanik – Director
Michael Romanik has over 14 years of resource exploration and public market experience with an emphasis on management, promotion and corporate finance. He has built an impressive network of resource and investment industry contacts over the years, and demonstrated a proven ability to utilize those relationships to advance his business objectives. Romanik has served as the president and CEO of GoldON Resources (TSXV:GLD) since 2009 and is a founding shareholder and the CEO of Silver Dollar Resources (CSE:SLVDF).
Advisory Team
Dr. Mark Bennett, Ph.D.
A PhD-qualified geologist with over 30 years of experience in capital raising, mineral exploration and establishing mines; Instrumental in several discoveries, including the Wahgnion gold mine, the Thunderbox gold mine and Waterloo nickel mine, and the Nova-Bollinger nickel-copper mine in Australia for Sirius Resources (acquired for AUD$1.8 billion in 2015); Involved in raising over $1 billion in debt and equity financing for funding exploration and development projects and overseen mergers, demergers, acquisitions, investments and divestments.
Scott McLean, P.Geo., FGC.
A professional geologist with over 35 years of senior management, executive and board experience in the metals and mining industry. Between 1985 and 2007, he worked for Falconbridge Limited and its successor Xstrata Nickel in various capacities throughout Canada with a focus on gold and base metal exploration; Founded HTX Minerals Corp in 2007, Transition Metals Corp in 2010, SPC Nickel Corp in 2013 and Canadian Gold Miner in 2016; Currently leads Transition Metals and is the Executive Chairman of SPC Nickel.
Richard Murphy, P.Geo.
A seasoned exploration entrepreneur with 27+ years of experience in the mineral exploration business. Brought two public companies through founding, acquisition, exploration and sales processes, most notably, Manitou Gold Inc. (acquired by Alamos Gold in Q2 2023). Expertise in building and advancing junior mining companies through discovery, resource definition and pre-feasibility stages to establish fully-valued mine reserves.
Blackstone Minerals Limited (ASX: BSX) – Trading Halt (2+2)
Description
The securities of Blackstone Minerals Limited (‘BSX’) will be placed in trading halt at the request of BSX, pending it releasing an announcement regarding the outcome of the institutional component of the accelerated entitlement offer. Unless ASX decides otherwise, the securities will remain in trading halt until the commencement of normal trading on Wednesday, 6 November 2024.
Issued by
ASX Compliance
Click here for the full ASX Release
This article includes content from Blackstone Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Quarterly Report for the Period Ending 30 September 2024
Blackstone Minerals Limited (ASX:BSX) is pleased to present its Quarterly Report.
HIGHLIGHTS
- Blackstone completed the precursor cathode active material (“pCAM”) NCM811 (nickel-cobalt- manganese in a ratio of 8-1-1) pilot program in October 2024. This is the last stage of outstanding testwork required to finalise the definitive feasibility studies (“DFS”).
- Good progress has been made in advancing the Investment Certificate for the refinery project in Son La Province in northern Vietnam. The Son La provincial government seeks feedback from a number of key ministries on the project. The Investment Certificate is on track for approval in Q4 2024.
- The Company has agreed non-binding indicative terms with a potential Vietnamese partner, FECON Group (“FECON”). FECON has the option to acquire up to 10% in the refinery project. FECON is a leading engineering and construction group in Vietnam and can assist Blackstone considerably in advancing the studies and permitting of our projects.
- The Company is in the final stages of completing the Ta Khoa Refinery (“TKR”) DFS. Outstanding DFS activities include pCAM pilot program analysis and reporting, residue handling testwork and facility design and finalising geotechnical assessments.
- In October 2024, the Company hosted a strategic and Joint Venture (“JV”) investor tour of the Wabowden Project, Manitoba, Canada, showcasing the opportunities which exist within the region, being a long-term feedstock opportunity for the Company’s flagship project, Ta Khoa Refinery, Vietnam.
- End of quarter cash position of $1.85m.
- Listed investments of $1.13m at the end of the quarter.
PROJECT UPDATE
TA KHOA REFINERY COMPLETED pCAM PILOTING
After successful completion of both the Ta Khoa Nickel (“TKN”) and Ta Khoa Refinery (“TKR”) pilot campaigns to produce battery grade nickel and cobalt sulphates (Refer to ASX announcement 15 November 2022), Blackstone announced it completed the 12-week piloting program in early-October 2024. Blackstone will conclude the pilot program analysis and reporting within the next quarter.
The pCAM pilot program was the last stage of testwork required to allow the Company to finalise TKR DFS testwork activities. The pCAM pilot program utilised feedstock generated during the TKR pilot program to produce on-specification pCAM material in the chemistry of NCM811 to ‘typical’ lithium- ion battery standards for the EV market. The samples generated from the pCAM pilot program will now be distributed to JV partners and for marketing purposes.
In July 2024, the Company hosted a number of strategic investor and external technical personnel tours of the piloting facility to showcase the team’s capability and technical viability of the Project. The tour allowed the Company to demonstrate its commitment to developing a vertically integrated flowsheet from pit to pCAM. Within the upcoming quarter the Company will complete the pCAM pilot report to support the conclusion of the TKR DFS.
Click here for the full ASX Release
This article includes content from Blackstone Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Nordic Nickel's Rob Wrixon: Positive Metallurgical Results at Hotinvaara Enhance Pulju Project
Nordic Nickel (ASX:NNL) Executive Director Rob Wrixon is enthusiastic about the company’s Pulju project in Finland.
As highlighted by Wrixon, this project stands out due to its rare district-scale potential, particularly within Europe, where such opportunities are seldom found.
“It's about 40 kilometres of known mineralised strike, and it extends to depth as well,” he said, indicating not just surface-level, but extensive possibilities. These factors underline the critical role Pulju could play in fulfilling Europe's growing demand for domestic supply of nickel and cobalt.
The strategic location in Finland adds value, as the country accounts for 1 percent of global production. Wrixon noted, “As Europe goes further down this path of ensuring more domestic supply of these type of metals, then a project like Pulju is going to get more and more important.”
Metallurgical results from Hotinvaara
Nordic Nickel recently announced promising metallurgical test results from the Pulju project. Wrixon elaborated on these findings, emphasising their importance in transforming a low-grade deposit into a potentially viable economic asset.
“The key to everything is the metallurgy,” Wrixon stated, underscoring the critical nature of these results in transforming low-grade deposits into profitable ventures.
The findings reveal that Nordic Nickel could produce an 18.5 percent nickel concentrate, which Wrixon said is “extremely high by global standards.” Additionally, the potential to further enhance recoveries opens avenues for increased efficiency in extracting other valuable metals.
Pulju project’s polymetallic potential
Moving beyond nickel, the Pulju project offers considerable promise with its polymetallic prospects, including vital metals like cobalt, copper and platinum-group metals (PGMs). Wrixon emphasised that while nickel remains the main focus, the presence of other metals such as copper and PGMs might significantly contribute to the project's success.
He noted that during exploration, “When we look for the structural traps for the nickel, we may well be finding where the copper and PGMs are as well.”
Nordic Nickel's Pulju project holds potential for Europe's domestic critical metals supply, anchored by its strategic location and promising geological attributes. Additionally, the project's potential to yield not just nickel, but also cobalt, copper and PGMs, underscores its richness as a polymetallic site, promising diversification and increased market resilience.
Wrixon remains optimistic about the road ahead, signaling ongoing exploration and potential strategic partnerships as the company aims to unlock further value from the Pulju project.
Watch the full interview with Nordic Nickel Managing Director and CEO Todd Ross above.
Disclaimer: This interview is sponsored by Nordic Nickel (ASX:NNL). This interview provides information which was sourced by the Investing News Network (INN) and approved by Nordic Nickel in order to help investors learn more about the company. Nordic Nickel is a client of INN. The company’s campaign fees pay for INN to create and update this interview.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Nordic Nickeland seek advice from a qualified investment advisor.
This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.
Latest News
Nordic Nickel Investor Kit
- Corporate info
- Insights
- Growth strategies
- Upcoming projects
GET YOUR FREE INVESTOR KIT
Latest Press Releases
Related News
TOP STOCKS
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.