Mentioned:
A Canadian gold exploration company is getting ready to begin trading in Sweden. But, why?
What’s happening:
- First Nordic Metals (TSXV: FNM) has officially received conditional approval to begin trading on the Nasdaq First Growth Market in Sweden
Why it matters:
- First Nordic Metals has a vast portfolio of mining projects located in Sweden, including their flagship Barsele Gold Project which is a joint venture with mining giant Agnico Eagle (NYSE: AEM)
Going deeper:
- The majority of the properties owned in Sweden by First Nordic Metals are all located in the Gold Line Belt, which is one of the most historic regions in Sweden for mining and has previously had multiple producing mines
- Agnico Eagle is also one of the largest shareholders of First Nordic Metals, owning more than 10% of the entire company
The intrigue:
- This is not the first time a Canadian based mining company has pursued listing on the Nasdaq First Growth Market in Sweden, with District Metals (TSXV: DMX) previously applying for a listing due to the fact they own one of the single largest uranium deposits in the history of Sweden
