Proactive Investors - Run By Investors For Investors

Mawson Resources secures funding and joins research consortium to advance Finnish project

The Rompas-Rajapalot project’s maiden resource positions it as one of Finland’s top three gold resources by grade and contained ounces, according to the company
cobalt elements
The Rompas-Rajapalot gold-cobalt project is a strategic resource, Mawson says

Mawson Resources Limited (TSE:MAW) (OTCMKTS:MWSNF) announced Tuesday that it has been selected to take part in the Finland-based Battery Metals research and development consortium.

Participation, according to Mawson, is evidence that the company’s Rompas-Rajapalot gold-cobalt project is a strategic resource in the Nordics.

As part of its role in the consortium, also known as BATCircle, Mawson will receive €250,000 (C$378,000) to conduct advanced exploration and metallurgical studies at Rompas-Rajapalot. The funding is on a 50/50 basis, meaning Mawson will contribute another €250,000 to bring the total amount to €500,000 (C$756,000).

READ: Mawson Resources makes 'solid' start to winter drill program in Finland

The Rompas-Rajapalot project’s maiden resource of 424,000 ounces of gold equivalent at 3.1 grams per ton of gold equivalent makes it one of Finland’s top three gold resources by grade and contained ounces, according to Mawson.

"Mawson's Rajapalot project is a strategic gold-cobalt project for Finland, and we are honored to participate in the BATCircle consortium,” Mawson’s CEO Michael Hudson said in a statement. “Equally, we are encouraged by the vision of Business Finland to stimulate the dominant and growing role Finland plays in a modern and sustainable supply chain for battery metals.”

Shares of Mawson were down less than a cent Tuesday at C$0.22 in Toronto and eased to US$0.16 on the OTC Markets.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas


View full MAW profile View Profile


Related Articles

Surface rock samples from the BC project with visible gold and oxidised cobalt
March 12 2019
The company's field plans come after it potentially found the source of high-grade mineralisation.
Unloading concentrate at Wyndham port shed
January 14 2019
Ramp-up to full underground production is on schedule and concentrate is being trucked to the Wyndham port.
February 06 2019
Chairman Brian Stockbridge expects 2019 to be "transformational"
Copyright ©, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use