About the company

Background

Bluelake Mineral is a company focused on exploration and mining development in the Nordics within base metals, mainly copper, zinc and nickel. The company also holds projects with the asset type gold.

Within copper and zinc, the Company focuses on developing the Swedish project Stekenjokk and the Norwegian project Jomafältet into mining. For Stekenjokk, a revised application for processing concession has recently been submitted to the authorities. For Joma, the first step in the Norwegian equivalent of a processing concession has been obtained ("extraction right").

Within nickel, the Rönnbäcken project is held, and within gold, the Finnish project Haveri. In both of these cases, the Company actively seeks financial and industrial partners for the development of the projects.

Business idea

The company's business concept is to identify, acquire and develop interesting mineral projects up to the start of mining and to either operate the mine in collaboration with a larger industrial partner or sell the projects to such a partner. The focus is on the development of base metal projects in the Nordic region.

Goal setting

The primary objective is to put at least one mine into operation within 4-7 years or sell the corresponding asset to an industrial buyer before mining starts at a value that means a substantial increase in value for the shareholders. In addition to this, the company strives to build a broad portfolio of first-class projects in base metals, several of which have the potential to lead to the start of mining operations.

Strategy

The company's strategy essentially involves the following:

- Main focus on base metals in the Nordics – primarily copper, zinc and nickel

- Secondary focus on precious metals in the Nordics

- Acquire projects in early stages with existing mineral resources and where there is good potential for expanded resources, e.g. in areas with former mines (so-called "brown field" situations)

- Currently the main focus is on the Swedish projects Stekenjokk and Levi and the Norwegian project Jomafältet

- Development of Joma as a likely central location for beneficiation and landfill

- Other mineralizations constitute satellite projects whose mineral resources can be transported into the central enrichment plant

- Identify, acquire and develop additional projects to increase total mineral resources

- In connection with started mining, invite larger industrial partners as co-investors