Blue Moon Metals Announced Acquisition of Brownfield Copper Projects

The transactions provide immediate asset and geographic diversification with more emphasis on near term copper.

SEATTLE (Scrap Monster): – According to separate legally binding letters of intent signed by Blue Moon Metals Inc., Nussir ASA, and Nye Sulitjelma Gruver AS, Blue Moon has committed to purchasing all of the issued and outstanding common shares of Nussir and NSG. As a result, Blue Moon will pay US$55.3M for a 100% stake in Nussir and US$12M for a 100% stake in NSG. Common shares at a price of C$0.30 each will be issued to finance both transactions.

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According to a corporate news release, Blue Moon Metals will also issue new shares worth between C$30 million and C$50 million, the majority of which would be used to finance planned development at the Nussir location.

The business also reported that it is making progress on its east-central California Blue Moon polymetallic project. It is anticipated that the project's initial economic analysis will be finished in Q1 2025.

With a greater focus on short-term copper, the deals offer instant asset and geographic diversification. It is anticipated that the low-cost brownfield copper, silver, and gold mine on the Nussir Property will greatly improve Blue Moon's evolving production profile. According to recently hired CEO Christian Kargl-Simard, the deals would establish a new copper-zinc development business situated in Tier 1 jurisdictions.

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