- Shares of junior gold, cobalt and uranium miner Mawson Finland (TSXV:MFL) are up by 160 per cent on their first day of trading on the TSX Venture Exchange
- The initial public offering is part of Mawson Gold’s (TSX:MAW) previously announced plan to split into three public companies to maximize shareholder value
- Mawson Finland is a junior mining stock focused on acquiring precious and base-metal properties in Finland
- Mawson Finland stock is up by 160 per cent, trading at C$2.60 per share as of 10:56 am ET
Shares of junior gold, cobalt and uranium miner Mawson Finland (TSXV:MFL) are up by 110 per cent on their first day of trading on the TSX Venture Exchange.
The initial public offering (IPO), which consisted of 2,875,000 shares priced at C$1 each, is part of Mawson Gold’s (TSX:MAW) previously announced plan to split into three public companies to maximize shareholder value.
An investment in Mawson Finland grants you exposure to its 100-per-cent-owned Rajapalot gold and cobalt project in Lapland, Finland, near the Arctic Circle, which houses inferred resources of 867,000 ounces of gold and 4,310 tons of cobalt (9.78 metric tons grading 2.8 grams per ton of gold and 441 parts per million cobalt).
(Source: Mawson Finland)
Rajapalot boasts a 2023 preliminary economic assessment (PEA) detailing highly value-accretive production – contingent on a rebound in cobalt prices – as highlighted by:
- A US$211 million post-tax net present value (5 per cent) at base cases of US$1,700 per ounce of gold and US$60,000 per ton of cobalt, representing a 32 per cent discount and a 130 per cent premium to spot prices as of Aug. 19.
- A nine-year mine life producing at least 700,000 ounces of gold and at least 2,800 tons of cobalt, at all-in sustaining costs of US$824 per ounce of gold.
- Approximately US$338 million in free cash flow through years one to five.
- Ample resource growth potential in multiple targets across over 10,000 hectares.
Mawson Finland intends to allocate net proceeds to completing a revised PEA for Rajapalot, in addition to general and administrative expenses and general working capital purposes.
Eight Capital served as agent on the IPO.
About Mawson Finland
Mawson Finland is a junior mining stock focused on acquiring precious and base-metal properties in Finland. Besides Rajapalot, the company also owns the Rompas project, which is highly prospective for gold and uranium.
Mawson Finland stock (TSXV:MFL) is up by 160 per cent, trading at C$2.60 per share as of 10:56 am ET.
Join the discussion: Find out what everybody’s saying about this junior gold, cobalt and uranium stock on the Mawson Finland Ltd. Bullboard and check out Stockhouse’s stock forums and message boards.
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(Top photo: Mawson Finland)