Drilling at the Barsele gold project in northern Sweden. Credit: First Nordic Metals
First Nordic Metals (TSXV: FNM), which includes Agnico Eagle Mines (TSX, NYSE: AEM) among its backers, has agreed to acquire Mawson Finland in an all-share deal that will bring together some of the most advanced gold properties in Scandinavia.
The transaction declared on Monday creates new gold exploration and development company NordCo Gold focused on Sweden and Finland with a combined market capitalization of about C$259 million ($187 million). It highlights a broader trend in the junior sector as companies consolidate to gain scale and attract capital in a tight gold exploration market. With fewer discoveries being made and investors demanding larger, de-risked projects, NordCo aims to lead in the region.
First Nordic operates a 45-55% joint venture with Agnico Eagle at northern Sweden’s Barsele project, which hosts…
