Nordic Raises A$1.75M at Premium to Boost 1.23Moz Finnish Gold Projects
Nordic Resources has raised A$1.75 million through a strategic placement with Australian resource funds to advance exploration and development of its Finnish gold projects, including the sizeable Kopsa deposit.
- A$1.75 million raised via institutional placement at a premium
- Funds to expand drilling and accelerate Kopsa project development
- Gold resources total 1.23 million ounces AuEq across three deposits
- Placement includes short-dated options with a strike price of A$0.25
- Two nearby mills offer potential for near-term production
Strategic Capital Injection
Nordic Resources Limited (ASX, NNL) has successfully completed a A$1.75 million institutional placement, securing commitments from two prominent Australian resource specialist funds. The placement was priced at a 4.2% premium to the company's 15-day volume weighted average price, signaling investor confidence in Nordic’s Finnish gold assets and near-term growth prospects.
Advancing Finland’s Gold Projects
The capital raised will primarily fund expanded drilling and exploration activities across Nordic’s three key gold projects in Finland, Kopsa, Kiimala, and Hirsikangas. These projects collectively host a substantial resource inventory of 34.3 million tonnes at 1.11 grams per tonne gold equivalent (AuEq), translating to approximately 1.23 million ounces of gold equivalent. Notably, 66% of these ounces fall within the Measured and Indicated categories, underscoring the quality and potential for near-term development.
Kopsa stands out as the largest deposit, with 814,800 ounces AuEq at 1.09 g/t AuEq, predominantly located within 150 metres of surface, making it amenable to open-pit mining. The company plans to accelerate pre-production development activities at Kopsa, including processing options and regional strategy studies in the Middle Ostrobothnia Gold Belt, which could pave the way for early-stage production.
Placement Structure and Strategic Partnerships
The placement involved issuing 10,937,500 new shares at A$0.16 each, alongside 3,645,834 short-dated options exercisable at A$0.25 by December 2025. Powerhouse Advisory Australia Pty Ltd acted as the placement agent, receiving a 6% capital raising fee split between cash and shares. The involvement of well-known Melbourne-based institutional investors specializing in resources adds credibility and strategic value to Nordic’s capital raising efforts.
Outlook and Exploration Upside
Beyond the immediate development plans, Nordic highlights meaningful exploration upside across all three projects, with two nearby processing mills offering potential production optionality. The company’s resource estimates remain robust, with no material changes to underlying assumptions since previous announcements. This funding round positions Nordic to accelerate its regional gold production strategy and potentially unlock value in a historically underexplored part of Finland.
Bottom Line?
Nordic’s fresh capital injection sets the stage for accelerated exploration and potential early production in Finland’s promising gold belt.
Questions in the middle?
- How will drilling results from the expanded programs impact resource upgrades?
- What are the timelines and milestones for Kopsa’s pre-production development?
- Will the short-dated options be exercised, and what impact could that have on the share structure?
