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Nordic Mining (NOM)

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#343

Annual report 2018 on Nordic Mining’s mineral deposits

Nordic Mining ASA started in 2012 to report annually the status of its mineral
deposits including exploration results, mineral resources and, where applicable,
mineral reserves in relation to its main mineral projects.

Enclosed please find Nordic Mining’s annual mineral report for 2018, updated as
per 9 October 2018.
For questions please contact CEO Ivar S. Fossum, telephone +47 930 96 850.
Oslo, 10 October 2018
Nordic Mining ASA
Nordic Mining ASA (www.nordicmining.com)

Nordic Mining ASA (“Nordic Mining” or “the Company”) is a resource company with
focus on high-end industrial minerals and metals in Norway and internationally.
The Company’s project portfolio is of high international standard and holds a
significant economic potential. The Company’s assets are in the Nordic region.
Nordic Mining is undertaking a large-scale project development at Engebø on the
west coast of Norway where the Company has rights and permits to a substantial
eclogite deposit with rutile and garnet. Permits for the project have been
granted by the Norwegian government. The definitive feasibility study was
initiated directly following completion of the prefeasibility study in October
2017. Nordic Mining’s associated company Keliber completed the definitive
feasibility study for its lithium project in Finland in June 2018. Nordic Mining
has rights for exploration and production of high-purity quartz in Kvinnherad in
Norway. Further, the Company holds exploration rights at Reinfjord in northern
Norway where a prospective area of sulphide mineralisation has been discovered.
Nordic Mining is also exploring opportunities related to seabed mineral
resources.
Nordic Mining is listed on Oslo Axess with ticker symbol “NOM”.

Ekstern link: http://www.newsweb.no/index.jsp?messageId=460989

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20181010.OBI.20181010S37


#344

Proposed Rights Issue and Summons for Extraordinary General Meeting on 1 November 2018

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES (OR ANY OTHER
JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
UNLAWFUL). THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE
SECURITIES DESCRIBED HEREIN.

The Board of Directors of Nordic Mining ASA (“Nordic Mining” or the “Company”)
has today resolved to call for an extraordinary general meeting in the Company
on 1 November 2018 to resolve, among other things, a rights issue of up to NOK
40 million (the “Rights Issue”). The summons for the extraordinary general
meeting is attached to this stock exchange notice.
The Board of Directors has proposed the following main terms of the Rights
Issue:

· The Company will offer up to 17,391,304 new shares in the Rights Issue each
to a price of NOK 2.30 per new share, constituting gross proceeds of up to NOK
40 million subject to full subscription.
· Shareholders in the Company as of 1 November 2018 (as registered in the VPS
as of 5 November 2018) (the “Record Date”) will be given a pre-emptive right to
subscribe for and be allotted their pro rata share of the new shares to be
issued in the Rights Issue as of the Record Date (the “Eligible Subscribers”).
· The Company will issue transferable subscription rights which will be
listed on Oslo Axess.
· For each existing share owned in the Company as per Record Date, the
Company will issue 0.1532942 subscription rights. One (1) subscription right
gives the right to subscribe for one (1) share in the Rights Issue. Over
-subscription is allowed. New shares not subscribed for by Eligible Shareholders
may be subscribed by investors without subscription rights.
· The subscription price is NOK 2.30 per offer share. Based on the closing
price for Nordic Mining’s share on 10 October 2018 of NOK 2.74, the subscription
price implies a discount of approximately 14% compared with the theoretical
share price exclusive subscription rights.
· The subscription period is expected to commence on 6 November 2018 and end
on 20 November 2018. The subscription period is subject to publication of a
prospectus prepared in connection with the Rights Issue to be approved by the
Financial Supervisory Authority of Norway. Further information regarding the
subscription period and period for trading of subscription rights will be
communicated in separate stock exchange releases.

Subject to approval of the Rights Issue by the extraordinary general meeting,
Nordic Mining’s shares will trade ex. subscription rights from and including 2
November 2018 (the “Ex. Date”).

The main purpose of the Rights Issue is to continue the development of the
Engebø rutile and garnet project towards completion of the definitive
feasibility study and for general corporate purposes. The total funding
requirement to complete the definitive feasibility study is estimated to around
NOK 50 million including overhead cost until mid-2019 and contingency of NOK 10
million. The Company will continue the efforts to attract additional funding for
its operations going forward, including for construction capex.
In the preparations for the proposed Rights Issue the Company has had a dialogue
with some of the larger shareholders. We enclose for information a presentation
which has been used in connection with the dialogue. Three of the larger
shareholders in the Company who accumulated holds approximately 8.3 million
shares (representing approximately 7.3% of the outstanding shares) have
irrevocably agreed to subscribe for approximately 4.75 million shares equal to
approximately 27.5% of the proposed Right Issue.

The extraordinary general meeting will be held on Thursday 1 November 2018 at
17:00 hours (CET) at the Company’s premises, Vika Atrium, Munkedamsveien 45
(Entrance A, 5th floor), 0250 Oslo, Norway.

Carnegie AS and Clarksons Platou Securities AS act as Joint Lead Managers (the
“Managers”) for the Rights Issue.

For further information please contact Birte Norheim, CFO, telephone +47 95 29
33 21.

Oslo, 11 October 2018

Nordic Mining ASA

Nordic Mining ASA (www.nordicmining.com)

Nordic Mining ASA (“Nordic Mining” or “the Company”) is a resource company with
focus on high-end industrial minerals and metals in Norway and internationally.
The Company’s project portfolio is of high international standard and holds a
significant economic potential. The Company’s assets are in the Nordic region.
Nordic Mining is undertaking a large-scale project development at Engebø on the
west coast of Norway where the Company has rights and permits to a substantial
eclogite deposit with rutile and garnet. Permits for the project have been
granted by the Norwegian government. The definitive feasibility study was
initiated directly following completion of the prefeasibility study in October
2017. Nordic Mining’s associated company Keliber completed the definitive
feasibility study for its lithium project in Finland in June 2018. Nordic Mining
has rights for exploration and production of high-purity quartz in Kvinnherad in
Norway. Further, the Company holds exploration rights at Reinfjord in northern
Norway where a prospective area of sulphide mineralisation has been discovered.
Nordic Mining is also exploring opportunities related to seabed mineral
resources.
Nordic Mining is listed on Oslo Axess with ticker sy

Ekstern link: http://www.newsweb.no/index.jsp?messageId=461060

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20181011.OBI.20181011S12


#345

NORDIC MINING ASA: KEY INFORMATION ABOUT THE PREFERENTIAL RIGHTS ISSUE

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR ANY OTHER
JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE
SECURITIES DESCRIBED HEREIN.
Date on which the terms and conditions of the preferential rights issue were
announced: 11 October 2018

Last day including right: 1 November 2018

Ex-date: 2 November 2018

Record Date: 5 November 2018

Date of approval: 1 November 2018

Maximum number of new shares: 17,391,304

Subscription price: NOK 2.30 per new share

Will the rights be listed - yes/no: Yes

Other information: Reference is made to the notice of the extraordinary general
meeting in Nordic Mining ASA announced through a stock exchange notification on
11 October 2018 for further information regarding the rights issue.

Oslo, 11 October 2018

Nordic Mining ASA

Important information:

This release is an announcement issued pursuant to legal information
obligations, and is subject of the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

About Nordic Mining (www.nordicmining.com)

Nordic Mining is a resource company with a focus on high-end industrial minerals
and metals in Norway and internationally. The Company’s project portfolio is of
high international standard and holds significant economic potential. Nordic
Mining is undertaking a large-scale project development at Engebø on the west
coast of Norway where the Company has rights and permits to a substantial
eclogite deposit with rutile and garnet. Permits for the project have been
granted by the Norwegian government, and a prefeasibility study was completed in
October 2017. Nordic Mining’s associated company Keliber in Finland is in the
process of completing its definitive feasibility study and preparing for
production of lithium carbonate. Nordic Mining has rights for exploration and
production of high-purity quartz in Kvinnherad in Norway. Further, the Company
holds exploration rights at Reinfjord in northern Norway where a prospective
area of sulphide mineralisation has been discovered. Nordic Mining is also
exploring opportunities related to seabed mineral resources. Nordic Mining is
listed on Oslo Axess with ticker symbol “NOM”.

Ekstern link: http://www.newsweb.no/index.jsp?messageId=461063

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20181011.OBI.20181011S15


#346

Sukk :roll_eyes:


#347

Av selskapene eg følger, så er vertfall nom i en klasse for seg selv angående emisjoner, selv Hugo blir som smågutter å regne


#348

Change of the Finnish state’s shareholding in Keliber

The Finnish state has transferred its shareholding in Keliber corresponding to
approximately 17.6% of the total shares in Keliber, from Tesi Industrial
Management to Finnish Minerals Group. For more information regarding the share
transfer, please see press releases today from Finnish Minerals Group and
Keliber:

https://www.mineralsgroup.fi/home/states-mining-industry-holdings-transferred-to
-finnish-minerals-group.html

https://www.keliber.fi/en/investors/news-releases-and
-publications/A7F0B1C024E71529/

Nordic Mining owns approximately 22% and is the largest shareholder in Keliber.
Finnish Minerals Group is the second largest shareholder with approximately
17.6%.

For questions please contact CEO Ivar S. Fossum, telephone +47 930 96 850.
Oslo, 11 October 2018
Nordic Mining ASA
Nordic Mining ASA (www.nordicmining.com)

Nordic Mining ASA (“Nordic Mining” or “the Company”) is a resource company with
focus on high-end industrial minerals and metals in Norway and internationally.
The Company’s project portfolio is of high international standard and holds a
significant economic potential. The Company’s assets are in the Nordic region.
Nordic Mining is undertaking a large-scale project development at Engebø on the
west coast of Norway where the Company has rights and permits to a substantial
eclogite deposit with rutile and garnet. Permits for the project have been
granted by the Norwegian government. The definitive feasibility study was
initiated directly following completion of the prefeasibility study in October
2017. Nordic Mining’s associated company Keliber completed the definitive
feasibility study for its lithium project in Finland in June 2018. Nordic Mining
has rights for exploration and production of high-purity quartz in Kvinnherad in
Norway. Further, the Company holds exploration rights at Reinfjord in northern
Norway where a prospective area of sulphide mineralisation has been discovered.
Nordic Mining is also exploring opportunities related to seabed mineral
resources.
Nordic Mining is listed on Oslo Axess with ticker symbol “NOM”.

Ekstern link: http://www.newsweb.no/index.jsp?messageId=461126

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20181011.OBI.20181011S78


#349

Sukk ja. På den positive siden pleier emisjoner å gi avkastning i dette selskapet så man har jo det å se frem til… Jævla dårlig timing må jeg si.


#350

Etter regn kommer sol sies det. Så får håpe det blir litt bedre tider etter hvert :sunglasses:

Ikke noe problem med at det blir en emisjon, det var jo også ventet. Men hadde håpet at det kom noen positive nyheter (f.eks. partner/offtake-avtale på Rutil og/eller Lithium) før en emisjon ble børsmeldt.

Må være lov til å være skuffet over promoteringsarbeidet som NOM-ledelsen har gjort i forkant av denne emisjonen. Ikke har de svart på eposten som jeg sendte de vedrørende Alumini-pantet så er derfor litt ekstra irritert i dag over ledelsen :angry:

Uansett. Lærte for en tid tilbake at for en småaksjonær å ha en stor posisjon i et ilikvid vekstselskap (hvor det er forventet emisjoner) bare er tull. Det er ingen grunn til å være redd for å misse toget i slike selskaper. Det kommer alltid et nytt tog. Personlig hadde jeg derfor satt en grense om å ikke ha mer enn 10 % eksponering i NOM under “emisjonsfasen”.

Blir nok til at jeg overtegner i den kommende emisjonen. Man kan jo håpe at det kommer noen positive nyheter før tegningsperioden går ut :roll_eyes:


#351

Tydelig at Keliber-andelen til NOM konkursprises. Lurer egentlig på hva som er galt med NOM - forutenom at gruveinvesteringer i Norge er fy-fy-fy-fy :face_with_raised_eyebrow:

https://www.dn.no/DNtv/video/2018/10/15/1149/venter-eksplosiv-okning-i-markedet-for-elbil-batterier


#352

Har fortsatt ikke fått svar på eposten jeg sendte Nordic Mining. Så da fyrte jeg avgårde en ny epost - denne gangen direkte til CEO - og la til noen betraktninger/spørsmål om den kommende emisjonen. Lurer på om jeg får svar denne gangen :roll_eyes:

Hei Ivar. Sendte eposten under for et par uker tilbake til [email protected] men har ennå ikke fått noen svar. Velger å videresende eposten til deg som IR-kontakt og håper på svar på min opprinnelige epost.

I den forbindelse så må jeg også uttrykke min skuffelse til en emisjon som ble satt på lave 2,30 NOK. Jeg har forståelse for at det har vært en utfordring å fremskaffe finansiering til det videre løpet for Engebø. Men jeg ønsker tilbakemelding på hva som er gjort for å promotere selskapet ovenfor nye investorer og hva som er gjort ifm. arbeid med andre finansieringsalternativer som f.eks. offtake-avtaler for rutil. Når dere først går for en fortrinnsrettet emisjon er jeg også litt forundret over at dere bare henter 40 MNOK når dere estimerer at det vil koste 50 MNOK å ferdigsstile DFS for Engebø fram til midten av 2019. Ville det ikke være bedre å hente et litt større beløp når emisjonskursen settes så lavt?

Ellers ønsker jeg et klart svar på om dette blir SISTE emisjon og at videre finansiering vil skje på ANNET vis. Til slutt setter jeg pris på deres videre tanker rundt eierskapet i Keliber. Selv håper jeg dere fortsetter å være medeier i dette spennende prosjektet i Finland.

Mvh
XXX YYY
Småaksjonær i Nordic Mining


#353

Archeological surveys completed

The Company has received notice from the Directorate for Cultural Heritage,
confirming that the archeological surveys pursuant to the approved zoning plan
at Engebø now have been fully completed and that the area has been clarified for
construction activities.

CEO Ivar S. Fossum comments “we are pleased to receive this confirmation which
represents elimination of a potential risk and another step in the right
direction towards realization of the Engebø rutile and garnet project.”

For questions please contact CEO Ivar S. Fossum, telephone +47 930 96 850.
Oslo, 17 October 2018
Nordic Mining ASA
Nordic Mining ASA (www.nordicmining.com)

Nordic Mining ASA (“Nordic Mining” or “the Company”) is a resource company with
focus on high-end industrial minerals and metals in Norway and internationally.
The Company’s project portfolio is of high international standard and holds a
significant economic potential. The Company’s assets are in the Nordic region.
Nordic Mining is undertaking a large-scale project development at Engebø on the
west coast of Norway where the Company has rights and permits to a substantial
eclogite deposit with rutile and garnet. Permits for the project have been
granted by the Norwegian government. The definitive feasibility study was
initiated directly following completion of the prefeasibility study in October
2017. Nordic Mining’s associated company Keliber completed the definitive
feasibility study for its lithium project in Finland in June 2018. Nordic Mining
has rights for exploration and production of high-purity quartz in Kvinnherad in
Norway. Further, the Company holds exploration rights at Reinfjord in northern
Norway where a prospective area of sulphide mineralisation has been discovered.
Nordic Mining is also exploring opportunities related to seabed mineral
resources.
Nordic Mining is listed on Oslo Axess with ticker symbol “NOM”.

Ekstern link: http://www.newsweb.no/index.jsp?messageId=461412

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20181017.OBI.20181017S20


#354

Mandatory notification of trade

Board member Kjell Sletsjøe has today purchased 10,000 shares in Nordic Mining
ASA at an average price of NOK 2.37 per share. Following the purchase Mr.
Sletsjøe owns 10,000 shares in Nordic Mining ASA.

Oslo, 30 October 2018

Ekstern link: https://newsweb.oslobors.no/message/462403

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20181030.OBI.20181030S76


#355

Rights Issue resolved by the extraordinary general meeting

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES (OR ANY OTHER
JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
UNLAWFUL). THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE
SECURITIES DESCRIBED HEREIN.
The extraordinary general meeting in Nordic Mining ASA (the “Company”) was held
today, Thursday 1 November 2018. All items for consideration were approved. The
minutes of the extraordinary general meeting is enclosed to this notice in
Norwegian and in English translation.

The extraordinary general meeting resolved the proposed rights issue (the
“Rights Issue”) of up to 17,391,304 new shares in the Company as announced on 11
October 2018. Further terms and conditions for the Rights Issue will be detailed
in a prospectus to be published following approval of such prospectus by the
Norwegian Financial Supervisory Authority. Publication of the prospectus is
expected to be on or about 6 November 2018.

The shares in Nordic Mining ASA will trade ex preferential right to participate
in the Rights Issue as from tomorrow, 2 November 2018.

For further information please contact Birte Norheim, CFO, telephone +47 95 29
33 21.

Oslo, 1 November 2018

Nordic Mining ASA (www.nordicmining.com)

Nordic Mining ASA (“Nordic Mining” or “the Company”) is a resource company with
focus on high-end industrial minerals and metals in Norway and internationally.
The Company’s project portfolio is of high international standard and holds a
significant economic potential. The Company’s assets are in the Nordic region.
Nordic Mining is undertaking a large-scale project development at Engebø on the
west coast of Norway where the Company has rights and permits to a substantial
eclogite deposit with rutile and garnet. Permits for the project have been
granted by the Norwegian government. The definitive feasibility study was
initiated directly following completion of the prefeasibility study in October
2017. Nordic Mining’s associated company Keliber completed the definitive
feasibility study for its lithium project in Finland in June 2018. Nordic Mining
has rights for exploration and production of high-purity quartz in Kvinnherad in
Norway. Further, the Company holds exploration rights at Reinfjord in northern
Norway where a prospective area of sulphide mineralisation has been discovered.
Nordic Mining is also exploring opportunities related to seabed mineral
resources.

Nordic Mining is listed on Oslo Axess with ticker symbol “NOM”.

Ekstern link: https://newsweb.oslobors.no/message/462655

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20181101.OBI.20181101S132


#356

Ex preferential rights today

Reference is made to announcements from the company
01.11.2018 and 11.10.2018.

The shares in Nordic Mining ASA will be traded ex preferential rights as from
today, 02.11.2018

Ekstern link: https://newsweb.oslobors.no/message/462683

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20181102.OBI.20181102S23


#357

Invitation to the presentation of the Q3 2018 results on Thursday 8 November 2018 at 10:00 (CET)

Nordic Mining hereby invites you to the presentation of the results for the
third quarter of 2018 and company update at our office at Vika Atrium,
Munkedamsveien 45 (Entrance A, 5th floor) in Oslo on Thursday 8 November at
10:00 (CET). The quarterly report and presentation materials will be published
at the Oslo Stock Exchange and on Nordic Mining’s webpage (www.nordicmining.com)
in advance of the presentation.

The presentation and Q&A session will be held in English and transferred via
webcast. You will have the opportunity to post questions online throughout the
webcast session. The webcast will be available on:

http://webtv.hegnar.no/presentation.php?webcastId=97451506

If you wish to attend the presentation in the office, please give notice by
email to [email protected] or telephone +47-95293321.

For further information, please contact CFO Birte Norheim, telephone +47
-95293321.
Oslo, 2 November 2018

Nordic Mining ASA
Nordic Mining ASA (www.nordicmining.com)

Nordic Mining ASA (“Nordic Mining” or “the Company”) is a resource company with
focus on high-end industrial minerals and metals in Norway and internationally.
The Company’s project portfolio is of high international standard and holds a
significant economic potential. The Company’s assets are in the Nordic region.
Nordic Mining is undertaking a large-scale project development at Engebø on the
west coast of Norway where the Company has rights and permits to a substantial
eclogite deposit with rutile and garnet. Permits for the project have been
granted by the Norwegian government, and a prefeasibility study was completed in
October 2017. Nordic Mining’s associated company Keliber completed the
definitive feasibility study for its lithium project in Finland in June 2018.
Nordic Mining has rights for exploration and production of high-purity quartz in
Kvinnherad in Norway. Further, the Company holds exploration rights at Reinfjord
in northern Norway where a prospective area of sulphide mineralisation has been
discovered. Nordic Mining is also exploring opportunities related to seabed
mineral resources.
Nordic Mining is listed on Oslo Axess with ticker symbol “NOM”.

Ekstern link: https://newsweb.oslobors.no/message/462701

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20181102.OBI.20181102S41


#358

http://www.netfonds.no/quotes/release.php?id=20181105.OBI.20181105S68


#359

http://www.netfonds.no/quotes/release.php?id=20181106.OBI.20181106S11


#360

Keliber starter testskala produksjon av Li-hydroksid

Keliber Oy (“the Company”) has commenced test program concerning the production of lithium hydroxide.

The expected lithium demand, especially by European based cathode chemical, lithium ion battery and electric vehicle producers, is moving rapidly towards lithium hydroxide. Keliber Oy has commenced a test program together with Outotec Finland, targeting to test in pilot scale the production of lithium hydroxide. The pilot scale test campaign includes soda leach of calcined spodumene, solution purification by ion exchange and lithium hydroxide crystallization. Based on the test program, a process flowsheet will be established and optimized. Technical and economic studies will be carried out to evaluate the feasibility of lithium hydroxide production. The Company expects the test program and the studies to be completed during Q1 2019.

“As the cathode chemical producers of the batteries for the electric vehicles to an increasing extend prefer lithium hydroxide as their lithium raw material, we have initiated a test program to test the production of lithium hydroxide in pilot scale. An option to produce lithium hydroxide in the future, would increase our flexibility in satisfying the growing demand of our future clients. We are pleased to conduct the program with our long-term partner Outotec. We expect to receive results during the coming months and consequently assess the feasibility of battery grade lithium hydroxide production during the first quarter of 2019”, says Mr. Pertti Lamberg, CEO of Keliber Oy.


#361

http://www.netfonds.no/quotes/release.php?id=20181106.OBI.20181106S78


#362

Nordic Mining ASA (OAX:NOM) - Interim report per 30 September 2018

Enclosed please find Nordic Mining’s interim report for third quarter 2018 and a
separate presentation. The interim report and company updates will be presented
today, Thursday 8 November 2018 at 10.00 (CET) in the company’s office (address
details below). The presentation and Q&A session will be held in English and
transferred via webcast (details for the webcast below).

Important events in the third quarter 2018 and year-to-date 2018:
Corporate

·
Ongoing rights issue to finance the progressing Engebø definitive feasibility
study On 1 November 2018, a rights issue of up to 17,391,304 shares was resolved
in an extraordinary general meeting. The subscription period in the rights issue
started on 6 November 2018 and will end on 20 November 2018 at 16.30 (CET). The
subscription price in the rights issue is NOK 2.30 per share. Tradable
subscription rights have been allocated to shareholders of the Company as at the
end of 1 November 2018, as registered in VPS as of 5 November 2018.

Engebø rutile and garnet project

·
Positive market outlook for rutile and garnet The increasing market price for
rutile has continued during third quarter. Continuous strong demand for high
-grade feedstock is driven by high capacity utilization in the pigment industry,
reduced stockpiles and limited rutile supply. In the third quarter, rutile
prices (95% TiO2) have been reported around USD 1,050 per tonne. There is
currently no production of garnet in Europe, nor any planned production apart
from Engebø. The global supply of high-quality garnet for high-end applications
is short of the increasing demand. Dialogues relating to offtake agreements for
rutile and garnet are ongoing. The target is to establish solid long-term
arrangements that support the bankability of the project.

·
Site areas green-lighted for construction after archeological surveys In October
2018, the Company received notice from the Directorate for Cultural Heritage,
confirming that the archeological surveys pursuant to the approved zoning plan
have been completed and that the area has been clarified for construction
activities.

·
Agreements with the main landowners at Engebø signed The agreements with the
landowners regulate Nordic Mining’s acquisition of the area for the planned
mineral processing plant, including the existing deep-water harbour facility,
and compensation to the landowners for extraction and sale of all mineral
products from the Engebø deposit. The mining area comprised by the agreements
covers the open pit production phase as well as the service and rock storage
areas. The extraction permits granted to Nordic Mining also include the adjacent
area for the subsequent underground mining, and Nordic Mining has initiated
activities also for this phase.

·
Main permits in place; steady progress on infrastructure and local regulatory
matters Nordic Mining holds all rights and permits necessary for its current
operations related to the Engebø project. This includes extraction permits for
rutile (state’s mineral) which generally also implies the right to extract
garnet and possible other minerals (landowners’ minerals) in connection with the
rutile extraction. The zoning plan for the mining and processing areas and the
environmental permit for the project are fully granted. A process has been
initiated with Naustdal municipality regarding detailed regulation of buildings
and infrastructure at the processing plant and service areas, as well as for the
access and haul roads etc. Further, a zoning plan process for the planned
pipeline for process water supply is ongoing. The Engebø project is developed in
accordance with high international standards for environment, health and safety.
A comprehensive monitoring program for various environmental aspects is being
prepared.

·
Comprehensive definitive feasibility activities ongoing The main purpose of the
definitive feasibility study is to qualify the project for construction
financing with a combination of debt and equity. The definitive feasibility
study is progressing well and targets high-quality assessments and de-risking of
all important aspects of the project. Certain aspects of the mineralogy and
texture of the Engebø deposit is complex, and the ongoing process test work is
comprehensive and thorough. Several positive clarifications and verifications
relating to configuration of the rutile and garnet processing circuits have been
achieved. Further improvements are targeted related to garnet yields, particle
size distribution etc. The test work activities, including bulk sample testing,
are scheduled to continue into the first quarter 2019. Except for the process
flowsheet, engineering and the detailed design activities for most of the other
project areas have commenced. The timeline for completion of the definitive
feasibility study will be reaffirmed when the process flowsheet has been
finalized. The current estimate is completion mid-year 2019.

·
Increased resource estimates The Engebø resource model and classifications were
updated in June 2018 by Competent Person Adam Wheeler. The limited drilling
program in January/February 2018 resulted in an increase of the estimated
mineral resources in the measured and indicated categories (JORC Code 2012) by
around 5%, to approximately 98 million tonnes, based on a cut-off of 3% TiO2.
The average grade of rutile and garnet in the measured and indicated categories
is 3.87% and 44.4%, respectively. The ongoing definitive feasibility work is
based on the 2018 resource model and estimates.

Keliber lithium project

·
Definitive feasibility study confirms profitable lithium project In June 2018,
Keliber (Nordic Mining owns approximately 22%) completed the definitive
feasibility study for the lithium project in Finland. The study confirms a
profitable business case and outlines the plans for execution of the project.
The main results are summarized in the following:

·

Strong project financials:

    ·

Pre-tax net present value (NPV @ 8% discount rate) of EUR 295 million

    ·

Post tax net present value (NPV @ 8% discount rate) of EUR 225 million

    ·

Pre-tax internal rate of return (IRR) of 24%

    ·

Post tax internal rate of return (IRR) 22%

    ·

Pay-back period: 5.5 years

  ·

Significantly increased mineral resource and ore reserve estimates

  ·

Average battery grade lithium carbonate sales volume of 10,745 tonne/year

  ·

Average lithium carbonate sales price of USD 12,357 per tonne

  ·

13 years of open pit and underground mining operations followed by 7 years of
production based on purchased spodumene concentrate

  ·

Upfront capital cost of EUR 199 million for mines and production facilities;
additional capex of EUR 56 million during the production period

·
Assessments related to offtake and project financing are ongoing The definitive
feasibility study is expected to provide a solid foundation for project
financing required to execute the lithium project. Keliber is actively assessing
market options, and dialogues to secure offtake agreements suitable for the
project financing are ongoing. Considerations regarding financing with a
combination of debt and equity are carried out with support from advisors. An
important element in this process is to carry out a technical review of the
project with professional resources independent of the company and its
feasibility study advisor/coordinator, Hatch. The international mining
consultancy company SRK has been contracted for this purpose.

·
Permitting process well under way Keliber has obtained a special pre
-consultation status for its permitting process which implies that the company
interacts closely with the authorities throughout the process. The permit
application for the Syväjärvi deposit was submitted in May 2018, and a
clarification is expected shortly. Applications for the Rapasaari deposit, the
Kalavesi concentrator plant and the Kokkola chemical plant are targeted to be
submitted before year end. Keliber expects clarification of the remaining
permits during the first half of 2019.

·
Strong lithium market and outlook Generally, the lithium market is developing on
a positive note and contract prices have increased so far in 2018. Going
forward, a continued tight market balance is expected. The fastest demand growth
for lithium is related to batteries for electric/hybrid vehicles and energy
storage. Several initiatives relating to battery production in Europe, including
Finland and Sweden, are under development. Keliber has commenced a pilot plant
test program for production of lithium hydroxide in cooperation with Outotec
Finland. A successful outcome of the test program will increase Keliber’s market
flexibility going forward. Keliber expects the test work and the assessments to
be completed in Q1 2019.

The third quarter presentation will be held today, Thursday 8 November 2018 at
10:00 (CET) in Nordic Mining’s office at Vika Atrium, Munkedamsveien 45
(Entrance A, 5th floor), N-0250 Oslo. The presentation and Q&A session will be
held in English and transferred via webcast. You will have the opportunity to
post questions online throughout the webcast session. The webcast will be
available on: http://webtv.hegnar.no/presentation.php?webcastId=97451506

For further information, please contact CFO Birte Norheim, telephone +47
-95293321. Oslo, 8 November 2018 Nordic Mining ASA

Nordic Mining ASA (www.nordicmining.com)

Nordic Mining ASA (“Nordic Mining” or “the Company”) is a resource company with
focus on high-end industrial minerals and metals in Norway and internationally.
The Company’s project portfolio is of high international standard and holds a
significant economic potential. The Company’s assets are in the Nordic region.
Nordic Mining is undertaking a large-scale project development at Engebø on the
west coast of Norway where the Company has rights and permits to a substantial
eclogite deposit with rutile and garnet. Permits for the project have been
granted by the Norwegian government. The definitive feasibility study was
initiated directly following completion of the prefeasibility study in October
2017. Nordic Mining’s associated company Keliber completed the definitive
feasibility study for its lithium project in Finland in June 2018. Nordic Mining
has rights for exploration and production of high-purity quartz in Kvinnherad in
Norway. Further, the Company holds exploration rights at Reinfjord in northern
Norway where a prospective area of sulphide mineralisation has been discovered.
Nordic Mining is also exploring opportunities related to seabed mineral
resources. Nordic Mining is listed on Oslo Axess with

Ekstern link: https://newsweb.oslobors.no/message/463087

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20181108.OBI.20181108S37