First Nordic – Agnico Eagle Joins As Strategic Shareholder, Full Ownership Of Finland Greenstone Belt, And Warrants Being Exercised
Taj Singh, President and CEO, and Adam Cegielski, Chief Development Officer of First Nordic Metals (TSX.V: FNM) (OTCQB: FNMCF), join me to discuss the specifics on a few recent news updates announced to the market:
- FNM enters into an agreement to finalize the acquisition of the Oijärvi Gold Project in Finland, which includes the resource-stage Kylmäkangas gold deposit, a drill-ready, high-grade gold project with significant resource expansion and district-scale growth potential.
- Agnico Eagle to become a 13.3% shareholder of FNM.
- Already one of the largest mineral claimholders in Sweden with a controlling position on the Gold Line Belt, FNM continues to build its business in both Sweden and Finland with the control of 2 different greenstone belts in Scandinavia an aim of being a premier European gold developer.
With regards to Sweden, the Company holds a 100,000-hectare district-scale position covering almost the entire Gold Line belt and a significant portion of the Skellefte VMS (volcanogenic massive sulphide) belt and covering a +100km belt position of regional first-order structural corridors. The majority of defined resources are at their flagship Barsele Gold Project with 2.4 Moz gold (NI-43101, all categories), in a JV with Agnico Eagle Mines Ltd. Additionally, the exploration team has defined two other mineralized trends, each over 5kms, the Paubäcken Project and the Storjuktan Project, that both Adam and Taj provide exploration updates on.
We also discuss how the in-the-money warrants have been starting to get exercised by investors, almost like a no-fee financing, bringing in more capital to the company to fund exploration this year, with more expected to be exercised moving forward. First Nordic Metals is also preparing to list it’s shares on the Stockholm exchange, and that will be another driver of liquidity slated for this year.
If you have any questions for Taj or Adam, regarding First Nordic Metals, then please email them to me at Shad@kereport.com.
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