Nordic Nickel Raises AU$1.05 Million to Advance Finland Mineral Projects

Highlights:

• Successful Capital Raise: Nordic Nickel Limited (ASX: NNL) secured A$1.05 million through a share placement at A$0.06 per share, reflecting strong shareholder support.
• Advancing Pulju Project: The funds will support the development of the Pulju Project in Finland, which holds a JORC Mineral Resource Estimate of 418Mt containing nickel, copper, and cobalt.
• Strategic Initiatives: Upcoming milestones include metallurgical testing and partnership discussions, with key project advancements expected by Q4 2024.

Successful Capital Raise

Nickel sulphide explorer Nordic Nickel Limited (ASX: NNL) has successfully raised A$1.05 million through a share placement to fund its critical minerals projects in Finland. The capital raise, conducted at A$0.06 per share, reflects strong support from existing shareholders, with the placement price set at the last closing price and at no discount to the 15-day VWAP.

Utilizing Funds for Strategic Growth

At the time of writing, Nordic Nickel’s shares are trading at A$0.06. The funds raised through the placement will be used to advance the company’s flagship Pulju Project in northern Finland, which is focused on nickel, copper, and cobalt exploration. This district-scale opportunity aims to solidify Nordic Nickel's position as a long-term European supplier of sustainably sourced nickel sulphides.

The Pulju Project holds an impressive JORC (2012) Mineral Resource Estimate of 418Mt, containing 862,800 tonnes of nickel, 22,100 tonnes of copper, and 40,000 tonnes of cobalt. Nordic Nickel continues to explore strategic partnership opportunities to further develop this resource, while minimizing shareholder dilution amidst challenging nickel market conditions.

Upcoming Milestones

Nordic Nickel has outlined several key initiatives for the next 12 months, including metallurgical testing and base-of-till sampling, which are expected to be completed by Q4 2024. These developments will help refine the project’s resource estimates and drive further exploration activities within the Pulju Belt. Additionally, discussions with potential strategic partners are advancing, with further updates anticipated in 2025.

With this capital raise, Nordic Nickel is well-positioned to push forward its exploration and development activities, setting the stage for long-term growth in the European critical minerals market.

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