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Arctic Minerals has updated its mineral resource estimate for the Bidjovagge gold-copper project in Norway. Compared to the previous survey from 2012, the estimated gold content of the deposit has increased by 22 percent, while the copper content is now estimated to be 28 percent higher.

In our last updated analysis of Arctic Minerals on September 13, 2021, we valued the Bidjovagge project at SEK 58.7 million. According to our net asset value calculation, it is the second most valuable project after Peräpohja in Finland. Our estimated NAV and target price were set at SEK 1.06 per share in Arctic Minerals as of September 13, 2021.

Gold and copper prices are about 2 percent lower today than on September 13. Meanwhile, the USD has strengthened from 8.63 to 9.07 versus SEK. We had slightly higher quality ratios but significantly lower anticipated volumes in our Bidjovagge valuation model as of September 13, 2021. Considering all this, the NAV for the Arctic Minerals increased to SEK 1.19 per share, as stated below.

Lähde: Finwire News

Arctic Minerals is a Nordic junior exploration company, focusing on exploration for copper, zinc, gold and battery metals in Finland. The company name was earlier Arctic Gold but when the company Norrbotten Exploration was acquired in autumn 2017, the company was renamed Arctic Minerals. The acquisition and the new recruitments gave the group additional competence and strengths and a new focus on exploration in Finland.