Clarksons Securities and SpareBank 1 Markets appointed as financial advisors for future fundraising activities
On 23 January 2025, GRANGEX AB (publ) (“Grangex” or “the Company”) announced the completion of a preliminary economic assessment (the “PEA”) for restart of operations at the Company’s Sydvaranger mine, located in Kirkenes, Northern Norway (the “Sydvaranger Mine”). Further to that announcement, Grangex is pleased to announce the appointment of Clarksons Securities (“Clarksons”) and SpareBank 1 Markets AS (“SB1M”) as financial advisors to the Company.
Clarksons and SB1M, two of the leading mining-focused investment banking firms in Norway, will work with the Company to design and secure an optimal financing package for the re-start of operations at the Sydvaranger Mine.
A final investment decision for the Sydvaranger Mine will be made by the Company upon completion of a definitive feasibility study (“DFS”), expected in mid-2025. The Company is fully funded until the expected completion of the DFS. However, the Company may execute a financing prior to completion of the DFS in order to provide additional working capital for the period from completion of the DFS until Final Investment Decision.
Further updates will be provided by the Company as appropriate.
Christer Lindqvist, Chief Executive Officer of Grangex, states: “The appointment of Clarksons and SB1M is another key milestone in the planned re-start of operations at Sydvaranger. The Grangex team looks forward to working with both firms to secure a comprehensive financing solution in conjunction with the completion of the DFS.”