Latest Finland News

Kingsrose Mining has secured the key Finnish approvals needed to advance drilling at Area 6 of its Penikat project, with a January 2027 start still targeted. Appeals remain possible until 20 November, but a separate enforcement order could allow restricted drilling while any challenge is heard.

Energy Fuels has amended its proposed acquisition of VAC after a customer dispute escalated into arbitration and lender forbearance at VAC’s US magnet plant. The filing also reveals VAC’s six-month net loss of €57.4 million, substantial debt and reliance on shareholder support ahead of the proposed transaction.

Memphasys has reported record September-quarter invoiced revenue of A$211,000 as its Felix fertility device moves into more international markets. The commercial progress comes alongside A$3.5 million in funding, but the loan still requires shareholder approval for conversion into notes.

Nordic Resources has increased the pit-constrained resource at its Kopsa gold-copper-silver deposit in Finland by 86% to 1.52 million ounces of gold equivalent. The update gives the company a larger, more defined resource base, but the project remains at the Mineral Resource stage rather than a development decision.

Latitude 66 returned to a A$1.71 million FY2026 profit as asset sales funded a larger gold resource base and major KSB milestones. But the auditor flagged material uncertainty over the explorer’s ability to continue without further funding.

Kingsrose Mining is entering FY27 with A$18.1 million in cash, a fresh CEO and a portfolio that now depends more heavily on permitting, partnerships and capital discipline. The company’s nearest-term opportunity is Penikat drilling in Finland, while its Norwegian projects require new routes to funding or value realisation.

Nordic Resources increased its FY2026 loss as it accelerated exploration in Finland, drilling nearly 11,500 metres across its gold projects and ending the year with A$8.48 million in cash. The next test is whether drilling, metallurgy and permitting can turn a growing resource base into a mine development case.

Cullen Resources posted a $340,251 FY2026 profit after selling its Wyloo iron ore royalty for $1.5 million. The result came with a qualified audit opinion over its remaining iron ore-related assets and a warning that further capital raisings will be needed.

Nordic Resources has recorded gold recoveries of up to 90% and copper recoveries of up to 91% at its Kopsa gold-copper project in Finland using a conventional processing route. The results will feed into an updated resource estimate expected in October, while a new 12,000-metre drilling program is already under way.

Resource Minerals International has expanded its exploration push across Tanzania and Saudi Arabia, but auditors flagged a material uncertainty over the company’s ability to continue without future capital raisings. The ASX-listed explorer ended FY2026 with $2.12 million in cash after raising funds through placements and convertible securities.

Latitude 66’s KSB project has returned a striking preliminary economic case, with a post-tax NPV8 of US$485 million and an 85% IRR at a US$3,500 per ounce gold price. The opportunity remains unbuilt, unfunded and subject to further study, permitting and a production target containing 10% Inferred Resources.

Nordic Resources is heading into a key investor conference with a 1.23Moz gold-equivalent resource base, expanding Kopsa mineralisation and a near-term resource update in prospect. The company says it has A$8.5 million in cash and no debt to fund its next drilling phase.