Goldsky Announces MOU with Ocean Partners to Further Study Cobalt Recovery from the Rajapalot Project in Finland
Goldsky advances its Rajapalot cobalt viability study, citing the EU Critical Metals Act as a key driver for the project’s economic viability.
Goldsky Resources Corp. (TSXV: GSKR) announced a Memorandum of Understanding (MOU) with Ocean Partners to investigate the technical and economic viability of recovering cobalt from the Rajapalot gold-cobalt Project in Finland. The collaboration aims to determine the optimal metallurgical flowsheet for cobalt recovery and evaluate commercial arrangements for concentrate production, marketing, and offtake. Management highlights that qualifying as a critical metal producer under the EU's Critical Raw Materials Act could provide significant permitting advantages for the Rajapalot Project.
Costs for Phase 1 development, including sample generation, transport, laboratory work, and supervision, will be allocated between the two parties. The MOU is non-binding and does not constitute a commitment to proceed with any transaction, construction, financing, or offtake agreement. Rajapalot currently holds an Inferred Resource of 9,780 kt containing 867 koz Au @ 2.8 g/t Au & 4.3 kt Co @ 441 ppm Co.
Goldsky Resources Corp. (GSKR) announced a strategic move to monetize the cobalt component of its Rajapalot resource, a logical follow-up to the known cobalt presence in the resource estimate since 2021. The initiative represents a structured effort to capitalize on a by-product rather than a sudden shift in strategy. The potential permitting advantages under the EU's Critical Raw Materials Act could accelerate the transition from exploration licenses to mining licenses in Finland, a historically complex jurisdiction.
The agreement is non-binding and features a cost-sharing structure, which mitigates immediate financial risk but means there is no guaranteed revenue stream or offtake commitment at this stage. The market has already priced in the Barsele consolidation and the Rajapalot drilling program. This memorandum of understanding is expected corporate development activity for a junior explorer with a critical metal component, supporting the long-term thesis but lacking the immediate catalyst required to move the stock materially.
Goldsky Resources Corp. (GSKR) is a Nordic-focused gold exploration and development company, formerly known as First Nordic Metals. It operates across Sweden and Finland with a combined land position of over 123,000 hectares.
The company’s flagship asset is the Barsele Gold Project in Sweden. Goldsky recently closed the acquisition of Agnico Eagle's remaining 55% interest, achieving 100% ownership. The project hosts 320,781 oz Indicated and 1.83 moz Inferred gold resources.
Its secondary asset is the 100%-owned Rajapalot Gold-Cobalt Project in Finland, which hosts 867 koz Au and 4.3 kt Co in the Inferred category. The company completed a 10,429-metre winter drilling program focused on infill and target testing.
Other assets include the Oijarvi (Finland) and Paubäcken/Aida (Sweden) exploration licenses.