Nordic Resources has signed an agreement to acquire 100 % of Nordic Mines Marknad , a subsidiary of Nordic Mines AB . Michael Hepworth, president and chief executive officer of Firesteel, said: "Over the last 12 months, we have examined many opportunities; however, this one checked all the boxes as it provides a short-term opportunity for Firesteel to acquire a past producer, conduct the appropriate engineering studies and return it to production in a relatively short period. Firesteel will acquire an initial 10 % of NMM for € 1 m ( $ 1.06 m ) , with an option to pay € 20 m for a further 10 % of the company , and the final 40 % within 12 months of reaching the earn - in stage .
Nordic Resources has signed an agreement to acquire 100 % of Nordic Mines Marknad , a subsidiary of Nordic Mines AB . Firesteel will acquire an initial 10 % of NMM for € 1 m ( $ 1.06 m ) , with an option to pay € 20 m for a further 10 % of the company , and the final 40 % within 12 months of reaching the earn - in stage .