KUNIKO
Financials:
Primary ticker: ASX:KNI
Stage of development: Exploration
Primary minerals: Copper, Nickel, Cobalt, Lithium
Project to promote: James Bay Lithium Projects, Skuterud Cobalt Project, Ringerike Nickel Projects, Trondelag Copper Projects
Project location: Norway, Canada
Website: kuniko.eu
Kuniko is focused battery metals exploration in Scandinavia and Canada, targetting critical raw materials for electromobility: Lithium, Cobalt, Nickel and Copper. Kuniko has a strict mandate to maintain a net zero carbon footprint throughout exploration, development, and production.
Cash: AUD$4M
Debt: NIL
Major shareholders:
Vulcan Energy Resources – 20.45%
Gavin Rezos (Chairman) – 6.18%
BNP PARIBAS NOMINEES PTY LTD – 2.42%
MR MAREK RISTWEJ – 2.36%
CITICORP NOMINEES PTY LTD – 2.20%
Management Ownership – 10%
Management Profile
Antony Beckmand – CEO
Mr Antony Beckmand (CEO) has over 25 years’ experience in financial and executive roles within the mining industry, including 12 years with the Norway’s Sydvaranger iron ore project in CEO and CFO roles, and 3 years as a director of Nordic Mining ASA.
Mr Beckmand’s previous experience has been with Kalium Lakes Ltd, Exxaro Resources, Perilya Ltd and Robe River Iron Associates across a range of commodities including iron ore, sulphate of potash, minerals sands, base metals and gold.
He is a qualified CPA with a Bachelor of Commerce from the University of Western Australia and also holds a Graduate Diploma in Applied Finance and Investment from the Securities Institute of Australia.
What is your rationale for taking part in 121 Mining Investment?
Kuniko is seeking to raise awareness amongst the investment community of its exiting suite of battery metals projects, being developed in Europe for Europe, which has the fastest growing battery manufacturing capacity on the planet. Political and climate objectives are underpinning demand for battery raw materials and Kuniko is well positioned to develop projects from Norway which has abundant mineral wealth with undeveloped opportunities due to historic reliance on oil and gas.
What recent news would you like to highlight to investors attending?
24 April – Skuterud Cobalt Project Significantly Elevated Cobalt Assays
3 April – High Grade Assay Results of Nickel, Copper and Cobalt at Ertelien
9 March – Lithium Exploration Project Acquisitions in James Bay
What are your key goals in 3 months, 6 months, 12 months?
3 Months:
– Drill assay results from Skuterud Cobalt Project, Ertelien Nickel Project, Nyberget Copper Project
– Commence exploration field activities at 3x James Bay lithium projects
– Downhole and ground EM surveys at Norwegian nickel and copper projects
– Geological mapping at Skuterud cobalt project
6 Months:
– Drill targetting for a second phase drill campaign at Ertelien Nickel Cobalt Project
– Prepare targets for further drilling at Skuterud Cobalt project
– Complete field work at James Bay lithium projects, obtain assay results and identify drill targets.
– Advance preparation of a maiden JORC compliant Nickel-Copper-Cobalt resource at Ertelien
12 Months:
– Development of high priority / high potential projects across the portfolio – Skuterud Cobalt, Ertelien Nickel-Copper-Cobalt, James Bay Lithium and Trondelag Copper
– JORC compliant resource estimates
– Strategic partnerships and strategic growth
– Organic value generation through advancement of battery metals project portfolio
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Key risks are difficult market conditions impacting support for exploration projects. Challenges include the allocation of available resources to a portfolio of quality projects yielding outstanding results. Kuniko is advantaged by a strong in-house exploration team in country in Norway, continuing to advance the projects methodically with modern exploration techniques and prudent financial sterardship.
What do you think makes your company such a compelling investment?
• Kuniko’s exploration projects are battery metals focussed, with lithium and cobalt listed as critical raw materials while nickel and copper are EU strategic raw materials.
• Growing European battery manufacturing industry
• EU regulations demanding 10% of critical raw materials consumed are sourced in Europe and dependance on third party countries cannot be more than 65% for any mineral.
• EU regulations, endorsed by Norway, demand a call to action
• Europe needs to secure supplies of battery raw materials – this includes EU battery manufacturing and EV OEM’s who will/are active in securing supplies of EU compliant, ethical, low carbon footprint, raw materials.
• China dominates the battery metals space and the majority of world cobalt supply comes from DRC (controlled by China).
• This imbalance does not fit EU regulations, targets and needs of Europe
• Geo-political tensions due to Russia and China puts increased focus on the Nordics as a powerhouse to deliver critical minerals into Europe due to the abundant mineral wealth, combined with sparsely populated areas suitable for mining activity.
• Kuniko is focusing on the development of its projects in Norway and Canada at some greenfield sites and several brownfield sites, many which have had little to no modern exploration but have had historical production.
• James Bay is the hottest address on the planet for lithium pegmatites driven by the success of recent discoveries by companies such as Patriot Battery Metals (market capitalisation of C$1.6 billion) and Allkem Ltd (market capitalisation A$7.4 billion).
• Norway and Canada have 95% of its electricity generated from hydro-power, putting Kuniko at an advantage to target net-zero carbon raw material production.
• This aligns with the goals of the EU and the battery manufacturing industry in the region
• Overall, we are in the right place at the right time, with the right strategy, underpinned by strong fundamentals (the greatest transition in mankinds history) and a highly prospective portfolio of projects aimed offering Europe and North America secure local sources of battery metals.
What are the top 3 key investor takeaways?
1) Battery Metals exploration in the right place at the right time with high potential Cobalt, Nickel and Copper Projects in Norway and lithium projects in James Bay Canada, all with significant exploration upside
2) European sources of battery metals are in demand with EU electric vehicle manufactures and battery manufacturing competing for security of supply chains in an environment where imports from Russia, China and DRC are not acceptable by regulation.
3) Norway and Canada are favourable mining jurisdictions where ethical sourcing can be ensured and >95% of electricity comes from renewable sources, while governments are fully commitment to sustainable mining and developing with battery value chain solutions.