Bluelake Mineral conducts a directed share issue

The Board of Directors of Bluelake Mineral AB (publ) ("Bluelake Mineral" or "the Company") has today, with the support of an authorization from the Annual General Meeting held May 26, 2021, decided on a new share issue directed towards a private investor (the "Investor") of a maximum of 1,145,161 shares at a subscription price of SEK 0.93 per share at a total value of MSEK approximately SEK 1,065,000 (the "Share Issue").

The Share Issue means that the share capital may increase by a maximum of SEK 114,516.10 through a new issue of a maximum of 1,145,161 shares. Subscription of shares must be on a separate subscription list by no later than December 17, 2021, whereby payment also must be made. Payment for subscribed shares must be made in cash. The Share Issue has been subscribed for in full.

As previously announced, in August this year the Company entered into an agreement (the "Agreement") with a group of private investors, whereby the Company raised a loan from such investors amounting to a total of MSEK 5 (the "Loan") to finance a Preliminary Economic Assessment regarding the nickel project Rönnbäcken in Sweden and to strengthen the Company's cash position. The Investor provided part of the Loan. At the beginning of September this year, SEK 4 million of the Loan was repaid by directed share issue. The Share Issue is carried out at the request of the Investor in accordance with the terms of the Agreement. The issue proceeds from the Share Issue shall be used in its entirety to repay the remaining MSEK 1 of the Loan plus accrued interest of SEK 65,000.

The Board is of the view that the subscription price of SEK 0.93 per share is market-based as it corresponds to the Company's share volume weighted average price (VWAP) on NGM Nordic SME during five consecutive trading days (November 25 - December 1, 2021) during the last 15 trading days after deduction of 10 percent discount. The reason for the deviation from the shareholders' preferential rights is to fulfil the Company's obligations under the Agreement. The Share Issue aims to secure the continued financing of the Company as the issue proceeds will be used to repay the remaining MSEK 1 of the Loan plus accrued interest. In light of the above, the Board of Directors considers that the Share Issue directed towards the Investors will be to the benefit of the Company and its shareholders.

____________

Stockholm, December 2021
Bluelake Mineral AB (publ)
The Board of Directors

Publication of information

This information is inside information which Bluelake Mineral AB (publ) is required to publish in accordance with the EU Market Abuse Regulation. The information was submitted, for publication on December 14, 2021, at 08.40 am CET, by the contact person above.

Additional information

For additional information, please contact:
Peter Hjorth, Managing Director, Bluelake Mineral AB (publ), phone +46-725 38 25 25
Email: [email protected] 

General information about the Company

Bluelake Mineral AB (publ) is an independent Swedish company active in exploration and mine development of copper, zinc, nickel and gold resources.

The Company owns approximately 99% of the subsidiary Vilhelmina Mineral AB, which is focusing on development of copper and zinc deposits in the Nordic region. In Sweden, the Company owns Stekenjokk-Levi project, where a total of approximately 7 million tonnes of ore were mined between 1976 and 1988 with an average grade 1.5% Cu and 3.5% Zn. Stekenjokk-Levi is, according to a recent (November 2021) Mineral Resource estimate by SRK Consulting, contains Inferred Mineral Resources of approximately 6.7 million tonnes with 0.9 % Cu, 2.7 % Zn, 0.6 % Pb, 55 Ag g/t and 0.2 g/t Au for Stekenjokk and Inferred Mineral Resources of 5.1 million tonnes with 1.0 % Cu, 1.5 % Zn, 0.1 % Pb, 22 Ag g/t and 0.2 g/t Au for Levi (at a NSR cut-off of 60 USD/t). In Norway, the Company is owner in the Joma field, where approximately 11.5 million tonnes of ore were processed between 1972 and 1998 with an average grade of 1.5% Cu and 1.5% Zn. The Joma field (excluding Gjersvik) is, according to a recent mineral estimate by SRK Consulting, containing indicated mineral resources of approximately 6 million tonnes with grades amounting to 1.00 % Cu and 1.66 % Zn and inferred resources of 1.2 million tonnes with grades 1.2 % Cu and 0.7 % Zn (at cut-off of 50 USD/tonne).

In addition, the Company owns the nickel projects Rönnbäcken (which is Europe's largest known undeveloped nickel resource) and Orrbäcken in Sweden. According to the mining consulting company SRK, the Rönnbäcken project contains a mineral resource of 668 million tonnes with an average grade of 0.176% nickel ("measured and indicated"). The preliminary economic assessment that SRK completed predicts a production of 26,000 tonnes of high-grade nickel concentrate per year for 20 years, which would be a significant proportion of Sweden's total annual use of nickel which thereby has a strategic value. Orrbäcken is an exploration license that is considered to have potential as a nickel deposit.

The Company owns the gold project Haveri, through its subsidiary Palmex Mining Oy, which in 2014 carried out a so-called Preliminary Economic Assessment (PEA) prepared by SRK Consulting. This report estimates 1.56 million oz. historically inferred mineral resource of gold equivalents with a grade of 0.93 g/t gold.) Kattisavan is mainly considered to have potential as a gold resource and is located within the so-called gold line, close to projects such as Svartliden, Fäboliden and Barsele

Bluelake Mineral offentliggör delårsrapport första kvartalet 2022

Första kvartalet 2022 (januari - mars)

  • Intäkterna för första kvartalet uppgick till 0,0 (0,0) mkr
  • Prospekterings- och utvärderingskostnader för första kvartalet uppgick till -2,0 (-1,5) mkr
  • Resultatet efter skatt för första kvartalet uppgick till -4,6 (-3,1) mkr
  • Resultatet per aktie för första kvartalet uppgick till -0,09 (-0,004) kr

Bluelake Mineral announces financial report for first quarter 2022

Första kvartalet 2022 (januari - mars)

  • Intäkterna för första kvartalet uppgick till 0,0 (0,0) mkr
  • Prospekterings- och utvärderingskostnader för första kvartalet uppgick till -2,0 (-1,5) mkr
  • Resultatet efter skatt för första kvartalet uppgick till -4,6 (-3,1) mkr
  • Resultatet per aktie för första kvartalet uppgick till -0,09 (-0,004) kr

Kommuniké från årsstämma i Bluelake Mineral

Aktieägarna i Bluelake Mineral AB (publ) ("Bolaget" eller "Bluelake") har den 12 maj 2022 hållit årsstämma i Stockholm, varvid följande huvudsakliga beslut fattades.


Bulletin from Annual general Meeting of the shareholders in Bluelake Mineral

The shareholders of Bluelake Mineral AB (publ) ("Bluelake" or the "Company") have held an Annual General Meeting on May 12, 2022 (the "AGM") whereby the following main decisions were made.


Bluelake Mineral offentliggör lönsamhetsstudie för koppar och zinkprojektet Joma och Stekenjokk-Levi med ett positivt nuvärde på 90 - 200 miljoner USD

Bluelake Mineral AB (publ) ("Bolaget" eller "Bluelake Mineral") offentliggör resultaten av en preliminär lönsamhetsstudie ("PEA") för det 100 % innehavda koppar- och zinkprojekt som omfattar Stekenjokk-Levi fyndigheten, belägen i Sverige, och Joma-fyndigheten, belägen i Norge ("Projektet"). PEA innehåller ett uppdaterat utlåtande om mineraltillgång och en ekonomisk bedömning för en planerad gruvdrift med ca 750 000 ton årlig brytning ("ktpa") under en period om 17 år med produktion av koppar, zink, bly, guld och silver.


Bluelake Mineral announces positive PEA for Joma and Stekenjokk-Levi copper and zinc project including post-tax NPV 8% of between USD 90 to 200 million over a 17-Year mine life

Bluelake Mineral AB (publ) (the "Company" or "Bluelake Mineral") is pleased to announce the results of a Preliminary Economic Assessment ("PEA") for its 100% owned copper and zinc project which comprises the Stekenjokk-Levi deposit, located in Sweden, and the Joma deposit, located in Norway (the "Project"). The PEA considers a target 750 kilo tons per annum ("ktpa") mining operation over a mine life of 17 years.  The Company believes the Project has the potential to supply copper and zinc to the growing renewable energy economy of northern Europe.


Bluelake Mineral AB (publ) offentliggör årsredovisning 2021

Bluelake Mineral AB (publ) ("Bluelake" eller "Bolaget") offentliggör årsredovisning för verksamhetsåret 2021 inklusive revisionsberättelse. Årsredovisningen är reviderad av Bolagets revisor och finns tillgänglig på Bolagets hemsida www.bluelakemineral.com


Bluelake Mineral AB (publ) offentliggör årsredovisning 2021

Bluelake Mineral AB (publ) ("Bluelake" eller "Bolaget") offentliggör årsredovisning för verksamhetsåret 2021. Årsredovisningen är reviderad av Bolagets revisor och finns tillgänglig på Bolagets hemsida www.bluelakemineral.com.


Bluelake Mineral genomför riktad nyemission

Styrelsen i Bluelake Mineral AB (publ) ("Bluelake Mineral" eller "Bolaget") har idag, med stöd av bemyndigande från årsstämman den 26 maj 2021, beslutat att till en grupp privata investerare ("Investerarna") genomföra en riktad nyemission av högst 1 396 647 aktier till en teckningskurs om 3,58 kronor per aktie, det vill säga till ett sammanlagt värde om cirka 5 MSEK ("Nyemissionen").


Bluelake Mineral conducts a directed share issue

The Board of Directors of Bluelake Mineral AB (publ) ("Bluelake Mineral" or "the Company") has today, with the support of an authorization from the Annual General Meeting held May 26, 2021, decided on a new share issue directed to a group of private investors (the "Investors") of a maximum of 1,396,647 shares at a subscription price of SEK 3.58 per share and at a total value of approximately MSEK 5 (the "Share Issue").


Kallelse till årsstämma i Bluelake Mineral AB (publ)

Aktieägarna i Bluelake Mineral AB (publ), org nr 556493-3199 ("Bolaget"), kallas härmed till årsstämma den 12 maj 2022 kl. 10.00 på Brahegatan 29, 114 37 Stockholm, Sverige.


Announcement of Annual General Meeting in Bluelake Mineral AB (publ)

The shareholders of Bluelake Mineral AB (publ), company registration no 556493-3199 (the "Company"), are hereby invited to participate in the Annual General Meeting ("AGM") to be held May 12, 2022 at 10 am at Brahegatan 29, 114 37 Stockholm, Sweden.


Bluelake Mineral uppdaterar strategisk översyn av dotterbolaget Nickel Mountain och nickel- och koboltprojektet Rönnbäcken

Bluelake Mineral AB (publ) ("Bluelake Mineral" eller "Bolaget") har som tidigare meddelats under våren 2021 inlett en översyn av strategiska alternativ för det helägda dotterbolaget Nickel Mountain AB ("Nickel Mountain"), som innehar det svenska nickel- och koboltprojektet i Storuman kommun, Västerbottens län ("Rönnbäckenprojektet" eller "Rönnbäcken") för att maximera dess framtida potential. Rönnbäcken är en av de största, oexploaterade nickelfyndigheterna i Europa med potential att utgöra en strategisk resurs för både den europeiska batteri- och stålbranschen. I ett första steg har, som meddelats den 23 februari 2022, en preliminär lönsamhetsbedömning ("Preliminary Economic Assessment" eller "PEA") genomförts av konsultbolaget SRK Consulting ("SRK") som visar på stora finansiella och strategiska värden i Rönnbäckenprojektet och som stödjer vidare finansiering för ansökan om miljötillstånd. Som underlag för ansökan om miljötillstånd behöver det genomföras en förstudie ("Preliminary Feasibility Study" eller "PFS") och en miljökonsekvensbeskrivning ("MKB"). Enligt en preliminär uppskattning behövs för dessa studier finansiering om ca 100 MSEK. Bolaget bedömer att denna finansiering kan ske direkt i dotterbolaget Nickel Mountain utan nyemission av aktier i Bluelake Mineral.


Bluelake Mineral updates strategic review of subsidiary Nickel Mountain and the nickel och cobalt project Rönnbäcken

Bluelake Mineral AB (publ) ("Bluelake Mineral" or the "Company") has, as previously announced in the spring of 2021, initiated a review of strategic alternatives for its subsidiary Nickel Mountain AB ("Nickel Mountain"), which owns the Swedish nickel and the cobalt project in Storuman municipality, Västerbotten county (the "Rönnbäcken Project" or "Rönnbäcken") to maximize its future potential. Rönnbäcken is one of the largest, unexploited nickel deposits in Europe with the potential to be a strategic resource for both the European battery and steel industry. In a first step, as announced on 23 February 2022, a preliminary economic assessment ("Preliminary Economic Assessment" or "PEA") was carried out by the consulting company SRK Consulting ("SRK") which shows significant financial and strategic values in the Rönnbäcken Project and which supports further financing of the application for an environmental permit. As a basis for the application for a permit, a preliminary study ("Preliminary Feasibility Study" or "PFS") and an environmental impact assessment ("EIA") has to be carried out. According to a preliminary estimate, funding of approximately SEK 100 million is required for these studies. The Company believes that this financing can arranged directly in the subsidiary Nickel Mountain without issuing of new shares in Bluelake Mineral.


Bluelake Mineral offentliggör lönsamhetsstudie för nickel- och koboltprojektet Rönnbäcken med ett positivt nuvärde om cirka 500 miljoner USD

Bluelake Mineral AB (publ) ("Bolaget" eller "Bluelake Mineral") offentliggör resultaten av en preliminär lönsamhetsstudie ("PEA") för det 100 % innehavda nickel- och koboltprojektet Rönnbäcken ("Rönnbäcken" eller "Projektet") i Västerbotten. PEA innehåller ett uppdaterat utlåtande om mineraltillgång och en ekonomisk bedömning för en planerad gruvdrift med 30 miljoner ton årlig brytning under en period om 20 år med produktion av nickel, kobolt och järn.


Bluelake Mineral announces positive PEA for the Rönnbäcken Nickel-Cobalt Project including post-tax NPV8% of between USD 477 and 547 million over a 20-Year mine life

Bluelake Mineral AB (publ) (the "Company" or "Bluelake Mineral") is pleased to announce the results of a Preliminary Economic Assessment ("PEA") for its 100%-owned Rönnbäcken Project ("Rönnbäcken" or the "Project") in northern Sweden. The PEA incorporates an updated Mineral Resource statement and an economic assessment for a 30 Mtpa mining operation over a mine life of 20 years producing nickel, cobalt and iron.


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