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- International nickel sulphide explorer Nordic Nickel (NNL) has successfully listed on the ASX and begun trading today
- The listing follows the completion of an oversubscribed $12 million initial public offering (IPO), which included $4 million worth of oversubscriptions
- The IPO issued 115.2 million shares at a price of 25 cents each and was backed by Starboard Global
- Funds raised from the IPO will support a planned diamond drilling and geophysical exploration program in Finland’s Central Lapland Greenstone Belt
- Shares in Nordic Nickel were up 15.9 per cent to $0.29 at the close of trading on Wednesday
International nickel sulphide explorer Nordic Nickel (NNL) has successfully listed on the ASX and begun trading today.
The listing follows the completion of an oversubscribed $12 million initial public offering, which included $4 million worth of oversubscriptions.
The IPO issued 115.2 million shares at a price of 25 cents each and was backed by Starboard Global.
Funds raised from the IPO will allow the newly-listed explorer to commence a planned diamond drilling and geophysical exploration program across its portfolio of highly prospective nickel sulphide assets in Finland’s Central Lapland Greenstone Belt (CLGB).
Managing Director Todd Ross said the company is following up on known nickel mineralisation occurrences utilising best-practice modern exploration techniques to explore high-potential targets.
The company is also aiming to deliver a maiden JORC mineral resource in the near future based on extensive shallow mineralisation drilled historically at the Pulju project by Outokumpu.
“Our vision is to discover and develop traceable, sustainably sourced, low-carbon, high-purity class-1 nickel sulphides in Finland, at a time when demand for battery metals is
growing exponentially,” Mr Ross said.
“Despite hosting some of the world’s largest nickel and gold deposits … this region is significantly under-explored for komatiite/intrusive hosted nickel deposits
using modern exploration techniques.”
The CLGB is one of the largest Paleoproterozoic greenstone belts globally and is the nickel exploration focus in Finland over the past decade.
“Finland is a fantastic location to be doing this, not only because of its geological prospectivity but also because it has a robust legal and permitting regime, high environmental standards, a commitment to best-practice ESG and is incentivising nickel sulphide projects through a National Battery Strategy,” Mr Ross added.
The company said it has commenced ESG reporting using leading impact and measurement platform Socialsuite to report against the World Economic Forum.
Nordic has planned to release its initial JORC mineral resource in July and its initial ESG report in August.
It has also tentatively set the commencement of its initial drilling program at Pulju for sometime in January 2023.
Shares in Nordic Nickel were up 15.9 per cent to $0.29 at the close of trading on Wednesday.
