Kuniko Secures A$555K Debt Facility, Updates Ertelien Resource, and Pursues Green Funding

Mining By Maxwell Dee 3 min read 5:42am on Monday 2nd of June, 2025 AEST

Kuniko Limited has streamlined its Norwegian battery metals portfolio, pursued non-dilutive green funding, and forged AI satellite data partnerships, setting the stage for growth in Europe’s critical minerals sector.

Completed rationalisation of Norwegian exploration licenses to focus on capital-efficient growth
Submitted Green Platform funding application targeting sustainable mining technologies
Established collaboration with EU Space Agency and Nova Space for AI-driven mineral exploration
Secured unsecured short-term debt facility of A$555,556 to support working capital
Key projects include Ertelien nickel-copper-cobalt deposit with updated JORC resource

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Strategic Portfolio Rationalisation

During the March quarter of 2025, Kuniko Limited undertook a deliberate repositioning of its Norwegian battery metals exploration portfolio. The company completed a comprehensive review and rationalisation of its licenses, effective from 30 April 2025, to sharpen focus on assets with the greatest near-term development potential. This strategic pruning aims to enhance capital efficiency while maintaining exposure to critical metals such as nickel, cobalt, and copper, essential for Europe’s burgeoning battery market.

Kuniko’s flagship Ertelien project in the Ringerike district remains a cornerstone, boasting a substantial JORC-compliant Mineral Resource Estimate of 40 million tonnes at 0.25% nickel equivalent. The deposit’s geological characteristics and open mineralisation along strike and depth underscore its exploration upside. Complementary projects at Skuterud and Vågå continue to offer promising cobalt and copper-zinc prospects, respectively.

Advancing Non-Dilutive Green Funding

In alignment with Norway’s green industrial ambitions, Kuniko progressed its application to the 2025 Green Platform program, a government-backed initiative providing non-dilutive funding for sustainable industrial innovation. The company submitted the mandatory project sketch in collaboration with industrial partners, focusing on low-carbon mining and hydrometallurgical processing technologies for its nickel-copper-cobalt projects at Ringerike and Skuterud. The full application is due in June 2025, with outcomes expected by Q4.

This funding avenue represents a pivotal opportunity for Kuniko to access capital without shareholder dilution, while reinforcing its commitment to ethical and environmentally responsible mining practices.

Innovative Exploration Through AI and Satellite Data

Kuniko is pioneering the integration of cutting-edge technology into mineral exploration by partnering with the European Union Agency for the Space Programme (EUSPA) and Nova Space. Through the TerraEye software platform, Kuniko will leverage Copernicus satellite data and AI-driven models to enhance mineral targeting and automate resource detection across its Norwegian licenses. This two-year pilot program, delivered at no cost to Kuniko, exemplifies the company’s forward-thinking approach to exploration efficiency and sustainability.

Financial Position and Capital Management

At quarter-end, Kuniko held A$0.65 million in cash, reflecting prudent capital management amid ongoing exploration expenditure of A$302,000. The company secured an unsecured short-term debt facility of A$555,556 from GAM Company Pty Ltd, providing additional working capital flexibility without diluting shareholders. This facility supports Kuniko’s near-term growth initiatives and strategic diversification efforts.

Looking Ahead

Kuniko plans to finalise its Norwegian portfolio rationalisation, advance external growth opportunities in Tier 1 jurisdictions, and submit its full Green Platform funding application in the coming quarter. The company will also implement the AI and satellite data pilot program, aiming to refine exploration workflows and accelerate discovery potential. These initiatives position Kuniko to capitalize on Europe’s critical minerals demand while adhering to high ESG standards.

Bottom Line?

Kuniko’s strategic streamlining and innovative partnerships set a foundation for resilient growth amid evolving green energy demands.

Questions in the middle?

Will Kuniko secure Green Platform funding to accelerate sustainable mining technologies?
How will AI and satellite data integration impact Kuniko’s exploration success and cost efficiency?
What are the timelines and capital requirements for advancing the Ertelien and Skuterud projects to development?

Mining Battery Metals Sustainability Exploration Technology Corporate Finance

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