Kuniko Secures Key JV, Raises A$2.7M, Advances Dual Metals Strategy
Kuniko Limited has executed a binding earn-in agreement for a major Australian gold-silver project and raised A$2.7 million to fund exploration, while progressing its Norwegian battery metals portfolio.
- Binding earn-in JV agreement for Commonwealth Gold-Silver Project in NSW
- A$2.7 million capital raised via rights issue and placements
- Stage-1 exploration underway including geophysical surveys and landholder engagement
- Strong Norwegian battery metals portfolio with JORC resource at Ertelien
- Advancement of Green Platform funding application for low-carbon battery metals supply chain
Strategic Expansion into Tier-1 Australian Gold-Silver Province
Kuniko Limited has marked a significant milestone by executing a binding earn-in and joint venture agreement with Impact Minerals Ltd for the Commonwealth Gold-Silver Project in New South Wales. This deal allows Kuniko to earn up to 70% ownership by funding A$3 million in exploration over four years, positioning the company within the prolific Lachlan Fold Belt, a globally recognised mineral province hosting major operations.
The Commonwealth Project offers near-term discovery potential with two drill-ready deposits, Commonwealth and Silica Hill, both with approvals and land access agreements in place. Historical data indicate significant gold and silver mineralisation, with high-grade shoots and untested regional targets offering upside. Kuniko has commenced Stage-1 exploration activities, including landholder engagement and a planned MobileMT™ airborne electromagnetic survey to detect sulphide accumulations at depth.
Capital Raising Fuels Exploration Momentum
To underpin this strategic acquisition, Kuniko successfully completed a capital raising program comprising a 1-for-3 non-renounceable rights issue, shortfall placement, and top-up placement, raising approximately A$2.72 million before costs. The offer was partially underwritten by GBA Capital, which also acted as Lead Manager. Directors participated fully, reinforcing alignment with shareholders. The funds are primarily allocated to exploration activities at Commonwealth, including geophysical and geochemical surveys, with the balance supporting working capital and transaction costs.
Advancing European Battery Metals Portfolio
Alongside its Australian expansion, Kuniko continues to develop its battery metals projects in Norway, which include the flagship Ertelien nickel-copper-cobalt deposit with a JORC-compliant resource of 40 million tonnes at 0.25% nickel equivalent. The company maintains tenure and stakeholder relationships across its Norwegian assets, including the historic Skuterud cobalt project and the Vågå copper-zinc project, all strategically aligned with Europe’s clean energy transition goals.
Kuniko is also progressing its application for the Norwegian Government’s Green Platform initiative through the Min2Mob consortium, aiming to secure NOK 60 million (~A$9 million) in non-dilutive funding to establish a low-carbon, traceable battery metals supply chain. The funding decision is expected in the fourth quarter of 2025.
Commitment to ESG and Responsible Exploration
Throughout its operations, Kuniko maintains a strong focus on environmental, social, and governance (ESG) principles. The company integrates low-impact exploration technologies such as AI-driven spectral mapping and prioritises stakeholder engagement and ethical sourcing. Its Norwegian operations benefit from access to 98% renewable energy, underscoring its commitment to sustainable development.
Looking Ahead
With exploration programs underway at Commonwealth and ongoing technical work in Norway, Kuniko is poised to deliver a steady pipeline of results. The company plans to commence soil geochemical surveys and integrate airborne electromagnetic data to refine drill targets, potentially initiating drilling late in 2025 or early 2026. Meanwhile, the outcome of the Green Platform funding application and strategic partnership discussions in Norway will be key catalysts to watch.
Bottom Line?
Kuniko’s dual-commodity strategy and strengthened funding set the stage for a pivotal exploration phase across Australia and Europe.
Questions in the middle?
- Will Kuniko’s Stage-1 exploration at Commonwealth validate and expand existing resource estimates?
- How will the Green Platform funding decision impact Kuniko’s Norwegian battery metals projects?
- What strategic partnerships might emerge to accelerate development of Kuniko’s European assets?