Goldsky Resources (OTCPK:FNMC.D) M&A announcement Transcript

Summary of Goldsky Resources Conference Call Company Overview - Company Name: Goldsky Resources (formerly First Nordic Metals) - Recent Development: Acquisition of 100% ownership of the Barsele project in Sweden announced on January 28, 2026 [1][3] Key Points and Arguments Acquisition Details - Goldsky Resources acquired the remaining 55% of the Barsele project from Agnico Eagle, which previously held this stake in a joint venture [3] - The acquisition includes a $20 million cash component and a 2% royalty that can be bought back for $50 million [3][4] - Post-acquisition, Agnico Eagle will hold a 32.5% stake in Goldsky Resources, establishing a significant partnership [4][31] Project Overview - The Barsele project spans 25,000 hectares and is located 600 kilometers north of Stockholm [6] - The project has an indicated and inferred resource of 2.1 million ounces of gold, with good ore body geometry and metallurgy showing recoveries of over 92% [6][10] - The site has both exploration and exploitation permits, indicating its readiness for mining activities [6][12] Historical Context and Work Done - Over the past ten years, 174,000 meters of drilling have been completed, providing a solid understanding of the ore body and surrounding region [7][8] - The project has undergone extensive geological studies, including soil sampling and drilling, which have identified significant gold-bearing structures [13][44] Infrastructure and Community Engagement - The Barsele project benefits from excellent infrastructure, including proximity to roads, rail, and hydropower, making it a favorable location for mining operations [17][19] - The local community has been supportive of mining activities, and Goldsky plans to continue engaging with the community and maintaining environmental monitoring efforts [19][20] Future Plans and Exploration - Goldsky plans to integrate with Agnico Eagle's team over a nine-month period to leverage their expertise [38] - A significant drilling program is planned for 2026, with an estimated 40,000 to 60,000 meters of drilling to expand the resource and understand the ore body better [25][41] - A Preliminary Economic Assessment (PEA) is expected to be initiated in Q2 2026, which will evaluate the project's potential and inform future development [26][27] Strategic Positioning - The Barsele project is positioned within a gold belt, with potential for further exploration in surrounding areas like Risberget, which has shown promising results [21][43] - Goldsky aims to transition from an exploration company to a development company, leveraging its experienced team to unlock value from the Barsele project [31][34] Additional Important Information - The acquisition is seen as transformational for Goldsky, marking a shift in its operational focus and strategy [30] - The company is well-funded, with an $80 million raise completed, allowing for extensive exploration and development activities [24][34] - The management team emphasizes the importance of responsible development and community engagement as they move forward with the Barsele project [47][48]