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Nordic Gold Corp. (TSXV:NOR) New Listing

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Nordic Gold is a junior mining company with a near production gold mine in Finland. The mine is fully built, fully permitted and financed to production via a gold forward sale, with production scheduled to start in the 4th quarter of 2018.

Additional Information:

Company: Nordic Gold Corp.
Website: http://www.nordic.gold
Stock Symbol: TSXV: NOR
Date Published: Aug 13, 2018
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Nordic Gold Corp. is the latest new listing on the TSX Venture Exchange,trading under the symbol “NOR”, having previously traded as Firesteel Resources under the symbol “FTR”.

Michael Hepworth, President and CEO, stated: "The changes announced today reflect our strategic direction and intent to become a mid-tier Scandinavia focused producer. The importance of the Company's gold assets and resources will be our main focus over the next phase of development.”

Nordic Gold is a junior mining company with a near production gold mine in Finland.

The mine is fully built, fully permitted and financed to production via a gold forward sale, with production scheduled to start in the 4th quarter of 2018.

The company recently released a Preliminary Economic Assessment showing year one production of 69,056 ounces of gold.

Other highlights, in US funds, include average gold production of approximately 76,000 ounces at a cash cost of $838 per ounce and all in sustaining costs of $951 per ounce over the 6-year mine life.

The pre-production capex is only $7.1 million, with an internal rate of return of 44.6% and a payback period of 1.7 years.

The company cautions that the PEA is preliminary in nature and includes Inferred Mineral Resources that are too speculative geologically to have economic considerations applied to them that would enable them to be categorized as Mineral Reserves.

When the company acquired the Laiva Mine, it was granted tax loss provisions of approximately 131.7 million euros.

Management has identified several opportunities outside of the scope of the mine plan studied in the PEA, which could further improve the mine plan and the economics of the project.

Most important of these being the three additional 100% owned exploration properties close to the mine, which are fully permitted for exploration.

The company is currently conducting magnetic surveys on all the company’s properties.

The report also identifies near mine targets for exploration as potentially 3.2 to 5.1 million tonnes grading at 1.44 grams per tonne.

This estimate is based on drilling beneath the south and north pits at depths up to 250 meters below surface and is open at depth.

The company all has a highly prospective property in British Columbia which is under a joint venture agreement with Prosper Gold.

The shares are currently trading at $0.155, and with 146 million shares outstanding, the company is capitalized at $22.6 million.

For more information, please visit the company’s website at www.nordic.gold, or contact Michael Hepworth, President and CEO, at 416-419-5192 or by email at mhepworth@nordic.gold.
I’m Samantha Deutscher for Investmentpitch Media