Mobilization for Underground Development of Nussir Project
Blue Moon Metals Inc. (“Blue Moon” or the “Company”) (TSXV: MOON; OTCQX: BMOOF) is excited to announce the mobilization of Leonhard Nilsen & Sønner AS (“LNS”) to commence underground development for the exploration decline at the Nussir Copper-Gold-Silver Project. This significant step marks a key development phase that is critical for the project's future.
LNS is recognized as a proficient contractor with extensive expertise in tunneling and mining, particularly in challenging northern conditions. The next year is pivotal as the planned work will yield essential data that will inform engineering studies, forming the basis for a final investment decision for the entire Project, aimed for 2026 completion.
Follow-On Equity Investment Set to Propel Progress
Building on its previous C$4.2 million subscription, LNS has pledged an additional C$2.2 million in common shares of Blue Moon, conditional upon the achievement of two key milestones. The first milestone—the commencement of LNS’s underground mobilization—has now been reached, triggering a subscription for 376,833 shares at C$3.00 per share, totaling gross proceeds of C$1.13 million.
This financing has received approval from the TSX Venture Exchange (“TSXV”) and confirms the sustained interest and commitment of LNS to Blue Moon’s future endeavours. Importantly, the proceeds will be directed towards the critical underground development activities at the Nussir Project, setting the stage for enhanced operational capability.
Engagement of Red Cloud Securities Inc.
In a strategic move to ensure market stability and liquidity, Blue Moon has engaged Red Cloud Securities Inc. (“Red Cloud”). Under this agreement, Red Cloud will trade Blue Moon’s securities on the TSXV. This partnership aims to maintain consistent market activity, which is vital for the ongoing success of the Company's shares.
Red Cloud’s services include a monthly fee structure, beginning at $7,000 for a minimum engagement period of three months. This arrangement is geared towards optimizing market dynamics and providing investors with a better trading experience.
As an established Toronto-based investment dealer, Red Cloud offers a comprehensive range of brokerage services tailored for all types of investors, specifically in the junior resource sector.
Stock Options Granted to Enhance Team Engagement
As part of its commitment to align interests, Blue Moon has granted 24,000 stock options to a consultant under its share compensation plan. These options carry an exercise price of $3.00 and can be exercised over five years, incentivizing the team to contribute towards the success and growth of the Company.
About Blue Moon Metals
Blue Moon is making strides in advancing its portfolio, which includes three brownfield polymetallic projects: the Nussir copper-gold-silver project in Norway, the Blue Moon zinc-gold-silver-copper project in the US, and the NSG copper-zinc-gold-silver project in Norway. All three projects benefit from existing local infrastructure, making them well-positioned for successful development.
In light of the global emphasis on critical metals, Blue Moon’s commitment to advancing these projects aligns with industrial demands, reinforcing the significance of zinc and copper in both the economy and national security. For more information about Blue Moon's initiatives and future plans, interested parties can visit the Company’s website.
Frequently Asked Questions
What is the Nussir Project?
The Nussir Project is an underground mining venture focused on copper, gold, and silver in Norway, being developed by Blue Moon Metals Inc.
Who is LNS?
Leonhard Nilsen & Sønner AS (LNS) is a skilled contractor engaged in tunneling and mining, involved in the development of the Nussir Project.
What is the recent financing amount announced by Blue Moon?
Blue Moon has secured an additional C$1.13 million from LNS through the subscription of common shares following the commencement of mobilization activities.
What services will Red Cloud provide?
Red Cloud Securities Inc. will maintain market stability and liquidity for Blue Moon's shares on the TSXV by trading the Company’s securities.
How many stock options have been granted by Blue Moon?
Blue Moon granted a total of 24,000 incentive stock options as part of its share compensation plan, promoting stakeholder engagement.
