Londo secure Norwegian Nickel

As it moves toward public trading, Londo Nickel has fully acquired a pair of Norwegian battery metal assets to serve as the foundations of its much-anticipated listing on the Australian Stock Exchange.

Acquired from the EMX Royalty Corporation, the plan is now laid for the two companies to work together and apply modern exploration techniques and deposit models to advance two projects in a vibrant region for battery metal production and exploration.

The Flåt Project boasts historical production of 2.7 Mt @ 0.72% Ni, 0.48% Cu, 0.06% Co, and once served as a key asset for Norway’s mining production before operations ceased in the wake of World War Two.

There remains lofty production and untapped discovery potential at Flåt, with large and underexplored intrusive complexes with historic mining areas providing walk-up drill targets.

And the Bramble Project has likewise had historical production across multiple deposits, with Londo’s land position covering a district-scale intrusive belt in a rich Ni-Cu-Co-PGE environment within 50 kilometres of Glencore’s Nikkelverk Refinery.

“The Projects will provide Londo with an outstanding pair of battery metal assets as the basis for our proposed ASX listing scheduled for next quarter,” Londo Executive Chair David Sumich said.

“Importantly, this Agreement preserves the integrity of the current capital structure, paving the way for potential post listing leverage. The Madagascan nickel assets under the binding SPA are now proposed to be transferred to Londo post IPO trading,” he added.

The Scandinavian charge

Home to globally significant deposits of battery metals, the Scandinavian nations have become a new hub for exploration and processing of the in-demand resources, with Norway particularly noted for its large reserves of nickel and cobalt and less-stringent mining regulations when compared to its Nordic neighbours.

Nornickel plans to increase production at its Finnish refinery to meet Europe’s surging demand for raw battery materials, and BHP has recently bought to the region in with the acquisition of Ragnar Metals’ Swedish exploration assets.

And with its own assets in the region now secured, Londo will proceed towards public trading for the second half of 2023 and begin exploring its new territory under the LDO ticker.

Project location map

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