Nordic Nickel (ASX:NNL) announced financial results for the full-year ended 30 June 2022.
The Group's net loss after taxation attributable to the member of Nordic Nickel for the year to 30 June 2022 was $1,643,380 (period from 27 January to 30 June 2021: $122,262).
No dividends were paid or declared. The directors do not recommend the payment of a dividend.
Nordic Nickel is a company limited by shares, which is incorporated and domiciled in Australia.
The principal activity of the Group during the financial year was preparation for listing on the Australian Securities Exchange and preliminary mineral exploration.
During the financial year, the Company successfully completed its Initial Public Offering (IPO) and listed on the Australian Securities Exchange (ASX) on 1 June 2022. The IPO was oversubscribed, raising $12 million, including $4 million worth of oversubscriptions.
Nordic Nickel's flagship 100%-owned Pulju Nickel Project is located 50km north of Kittila with access to world class infrastructure, grid power, national highway, international airport and, most importantly, Europe's only two nickel smelters.
On 20 January 2022, the Company entered into a binding Letter Agreement (Letter Agreement) with Magstar Mining Oy (MGM), to earn an interest in MGM's Maaninkijoki 3 (MJ3) Copper-Nickel-PGM Project, located in the Central Lapland Greenstone Belt of Northern Finland.
Following the announcement the company?s share price fell 9.090%.