Blue Moon Closes the Purchase of the Apex Germanium and Gallium Mine from Teck

The most recent news (March 16, 2026) confirms the closing of the acquisition of the Apex Germanium and Gallium Mine in Utah from Teck American Incorporated. Key terms include the issuance of 7,031,959 shares to Teck (making them an 8% shareholder), a 0.5% NSR royalty to Teck, and a 3.0% assumed NSR royalty. Crucially, Blue Moon entered into an offtake agreement with Teck for the products. This follows a string of March financings totaling approximately C$1.3M from strategic partners Hartree Partners and LNS to fund underground development at the Nussir project in Norway.

The impact is Routine - Positive. While the acquisition of a past-producing Germanium/Gallium mine is strategically significant given the "critical minerals" designation, the closing was expected following the February 27 announcement. - Strategic Alignment: The Apex mine fits the "hub and spoke" model where the recently acquired Springer Mill in Nevada will act as a central processor for various Western U.S. assets. - Validation: Having Teck as an 8% shareholder and offtake partner provides significant institutional validation and technical de-risking. - Dilution vs. Asset Value: The issuance of ~7M shares is a material dilution (8%), but it secures a 100% interest in a rare domestic source of Ge and Ga without a massive cash outlay, preserving capital for the 40,000-meter 2026 drill program.

Blue Moon Metals is a diversified developer focusing on critical minerals (Copper, Zinc, Tungsten, Germanium, Gallium). - Flagship Project: The Nussir Copper-Gold-Silver project in Norway. It is fully permitted and currently undergoing underground development. - U.S. Strategy: The "Blue Moon" VMS project in California and the "Springer" Tungsten mine/mill in Nevada. The company aims to use the Springer Mill as a regional hub to process high-grade ores from its own mines and third-party sources.