NOM Nordic Mining ASA

Aksjetips

Administrator
#1
Nordic Mining ASA (NOM) is a mining company focusing on exploration and production of high-end industrial minerals and metals. The company exploits strategic mineral resources, dedicated exploration activities and front-end technology to become a recognised supplier of feedstock for special Applications.

Hjemmeside: www.nordicmining.com
 

Aksjetips

Administrator
#2
Børsmelding fra Nordic Mining ASA (NOM) i dag:

20.11.2017 07:04
Cooperation with The Barton Group for Engebø garnet sales and project development


Nordic Mining ASA ("Nordic Mining") has signed a Heads of Agreement with The
Barton Group ("Barton") related to offtake and commercial cooperation for garnet
from the Engebø rutile and garnet project. Barton is a leading US garnet
producer and distributor with a strong foothold, particularly in the North
American markets. Over the years, Barton has played a leading role in developing
the fast-growing application of waterjet cutting technology where garnet is the
dominant mineral.

Barton will be an industrial anchor investor in the pre-construction financing
for the Engebø project and subsequently in the construction financing to
establish the rutile and garnet operation.

The Barton Group agreement
Since 2011, Nordic Mining and Barton (together "the Parties") have had a
Memorandum of Understanding ("MoU") with the intention to establish a long-term
cooperation with regards to development, production, sales, marketing and
distribution of garnet products from Engebø. Barton has analysed and confirmed
the high-quality of the garnet products which have been produced in the Engebø
prefeasibility testwork.

Today, the Parties have entered into a Heads of Agreement ("HoA") confirming the
cooperation, which will be further developed based on the following main
principles:

· Offtake agreement for North-America
Nordic Mining and Barton have agreed the basic principles of an offtake
agreement for the exclusive distribution by Barton of Engebø garnet to the North
American markets. The garnet will be sold and distributed under Barton's brand
name for high-quality products.

Barton is a substantial producer and distributor in North America with 23
warehouses and an experienced marketing and technology organization supporting
customers all over the continent.

· Joint venture agreement for other markets
Nordic Mining and Barton intend to establish a jointly owned company ("Newco")
for sale and distribution of garnet from Engebø to markets outside of North
America. The terms and conditions for the operation and the Parties' cooperation
will be further negotiated.

The high quality of the Engebø garnet and cost-efficient logistics, combined
with Barton's comprehensive marketing and technology experience, are expected to
build competitive strength.

· Financing of pre-construction project development
Barton intends to participate in the pre-construction financing of the Engebø
project. The financing will be on the same terms as offered to other investors
if Nordic Mining should decide to arrange an equity issue related to funding of
pre-construction activities for the Engebø project.

· Construction financing
Barton intends to participate in the construction financing of the Engebø
project as an industrial anchor investor. The form and amount of Barton's
contribution will be further negotiated and evaluated as part of the total
solution for project financing.

Comments from Nordic Mining and Barton

Chairman of the Board of Nordic Mining, Tarmo Tuominen comments:
"We are very pleased with the agreement, which confirms the relation with Barton
and the parties' intention to play a leading role together in the international
garnet industry. Barton's achievements and leading position in the development
of waterjet cutting is impressive, and we look forward to the successful
building of a strong and mutually beneficial partnership."

CEO Nordic Mining, Ivar S. Fossum comments:

"Barton's confirmation of the quality of the Engebø garnet is the best assurance
we could get. The hard-rock garnet quality combined with Barton's experience and
competencies forms a solid basis for our collaboration. We look forward to
moving forward together with Barton as the world's leading garnet technology
company."

Chairman and CEO of The Barton Group, Charles Bracken, comments:

"Barton is very pleased to be working with Nordic Mining to develop this world
-class resource. Nordic Mining and Barton's core values are aligned in our
commitment to quality, safety, environment, innovation and integrity. We look
forward to leveraging the strengths of both companies to create long-term value
for all stakeholders."

Information about The Barton Group (www.barton.com)

Barton is a family-owned company founded in 1878 that has produced the world's
highest-quality garnet abrasives for more than six generations. The company's
initial operation included mining and milling garnet for the sandpaper industry.
Because of its ever-sharp crystalline structure, Barton garnet quickly became
the world standard for sandpaper applications.

Over the years, Barton has continued to develop new products, markets and
applications - including blasting abrasives, waterjet abrasives and waterjet
parts. Barton has a strong commitment to quality, performance and service to
communities and customers. Today Barton produces garnet abrasive products for
many diverse applications such as waterjet cutting, blast media, bonded and
coated abrasives and specialty lapping and grinding medias. Barton owns and
operates mining and milling operations in the Adirondack Mountains of upstate
New York. The facility operates year-round to meet the demand for quality, high
-performance garnet abrasives.
 

Aksjetips

Administrator
#6
Børsmelding:

14.12.2017 23:11
Nordic Mining ASA - Private Placement completed

The Company announces that it has raised NOK 50 million (approx. USD 6 million)
in gross proceeds through the contemplated private placement (the "Private
Placement") consisting of 15,625,000 new shares (the "Shares"). The final
subscription price in the Private Placement was set to NOK 3.20 per share.

Carnegie AS and Swedbank Norge, branch of Swedbank AB (publ) acted as Joint Lead
Managers and Bookrunners (the "Managers") in the Private Placement. The Private
Placement was carried out as an accelerated book-build after close of trading
today.

The Barton Group, through its subsidiary The B-L Holding Company ("Barton"), has
subscribed for a number of shares for an aggregate purchase price equal to the
NOK equivalent of USD 1 million. Barton is the leading US garnet producer and
distributor that in November signed a Heads of Agreement related to offtake and
commercial cooperation for garnet with Nordic Mining.

The net proceeds from the Private Placement are intended to fund Engebø pre
-construction activities and general corporate activities. As announced in the
stock exchange notice of 30 October 2017, the Company initiated a process to
evaluate the potential funding need for the aforementioned activities. During
this process, the identified capital requirement to fund the Company past
completion of the definitive feasibility study ("DFS") and committed bank
financing for the Engebø project was estimated to be approximately USD 12m
(including a buffer of approximately 20%). The Private Placement will enable the
Company to continue the accretive development of the Engebø project on the back
of the positive results from the prefeasibility study, and the net proceeds are
expected to be sufficient to fund the DFS and general corporate activities
throughout the third quarter of 2018. The Company has the flexibility to explore
several options in respect of the remaining pre-construction funding, hereunder
divestment of non-core assets.

The DFS is expected to be completed in the fourth quarter of 2018, and once
completed, the Company expects to have a bankable project in place. This will
enable both debt and equity financing of the remaining construction financing
connected to the Engebø project. Committed bank financing is expected to be in
place in the first quarter of 2019. The Company also believes it has the
flexibility to wait with the front end engineering and design (FEED) until after
the construction financing for Engebø is in place. As previously announced on 20
November 2017, Barton intends to participate in the construction financing of
the Engebø project as an industrial anchor investor. The form and amount of
Barton's contribution will be further negotiated and evaluated as part of the
total solution for project financing.

The Private Placement was directed towards Norwegian investors and international
institutional investors, in each case subject to and in compliance with
applicable exemptions from relevant prospectus or registration requirements.

The Private Placement and the subsequent offering described below are subject to
approval from the general meeting in the company to be held on 8 January 2018
(the "EGM").

Subject to the approval of the Private Placement by the EGM, a subsequent repair
issue of up to 3,000,000 shares will be offered to shareholders in Nordic Mining
as at the end of 14 December 2017 (as documented by the shareholders register in
the Norwegian Central Securities Depository as of the end of 18 December 2017)
that did not participate in the Private Placement and that are not resident in a
jurisdiction where such offering would be unlawful, or for jurisdictions other
than Norway, would require any filing, registration or similar action (the
"Eligible Shareholders"). The subscription price in the repair issue will be NOK
3.20, which is equal to the subscription price in the Private Placement. The
Eligible Shareholders' rights to participate in the repair issue will not be
listed or tradable.

The company is in the process of preparing a prospectus which will be filed with
the Financial Supervisory Authority of Norway ("Norwegian FSA"). The
subscription period for the Subsequent Offering will start when the prospectus
is approved. It is expected that the subscription period in the repair issue
will start on or about 15 January and end on or about 26 January 2018.

The date for settlement of the Shares is expected to be shortly after the EGM.
The Shares are expected to be tradable within the week commencing 8 January 2018
(which shall not be prior to the date on which the share capital is registered
in the Norwegian Register of Business Enterprises and announced by the Company),
subject to the approval of the prospectus by the Norwegian FSA. If the
prospectus has not been approved by the Norwegian FSA at that point in time, the
Shares may be issued on a separate ISIN and delivered to the investors. These
shares would thereafter be converted to the existing ISIN of Nordic Mining and
become tradable on the Oslo Stock Exchange as soon as practically possible
following the approval of the prospectus by the Norwegian FSA.

Following approval of the Private Placement and registration of the new share
capital, the Company will have an issued share capital of NOK 66,270,280.80
divided into 110,450,468 shares, each with a par value of NOK 0.60.

For questions, please contact CEO Ivar S. Fossum, telephone +47-930 96 850.

Oslo, 14 December 2017
Nordic Mining ASA
 

Aksjetips

Administrator
#10
Mener AMR-studie mangler kredibilitet - hegnar.no

Nordic Mining mener AMRs initiativ er basert på urealistiske forutsetninger og ikke er underbygget som et seriøst industriprosjekt.

Nystartede Arctic Mineral Resources (AMR) lanserte fredag morgen planer om et granatprosjekt på Engebøfjellet. Nordic Mining hevder i en børsmelding mandag at AMRs studie ikke underbygges og mangler kredibilitet.
 

Aksjetips

Administrator
#12
Børsmelding:

18.05.2018, 09:02:01
Engebø rutile and garnet: New Project Manager

Nordic Mining has appointed Kenneth Nakken as new Project Manager for its rutile and garnet project in Naustdal in western Norway. Nakken has been Vice President, Digital Service in ABB Marine and has broad management and Project coordination experience from various management positions in the ABB Group.

Nakken will be based in Naustdal and head the project team for the final development work, construction and commissioning of the Engebø operations.

CEO Ivar S. Fossum comments: "I am pleased to welcome Kenneth to our team. He has highly relevant experiences for the transitional process to realise the Engebø rutile and garnet project, and its long-term value proposal as a regional cornerstone industry."
 
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