Kuniko Limited engages in the exploration and development of mineral properties for electromobility in Scandinavia. The company explores for copper, nickel, and cobalt deposits. It holds interest in the Ertelien Nickel-Copper-Cobalt Project; Ringerike Battery Metals Project, Skuterud cobalt project; the Vågå, Undal- Nyberget, and Gullklumpan copper projects; and the Frase, Mia North, and Nemaska South lithium project. The company was formerly known as Koppar Resources Europe Pty Ltd. Kuniko Limited was incorporated in 2017 and is based in Perth, Australia.

Kuniko Limited

#Kuniko is focused on developing battery metals projects in Scandinavia, for the European market, with a strict net zero carbon footprint.

Kuniko's (ASX: KNI) Non-Executive Director, Birgit Liodden is a self-made entrepreneur and business activist who has worked to push sustainability, entrepreneurship, next generation & diversity across the maritime industry through 15 years. 

She is one of the most visible young female leaders within the global maritime industry, and the first leader fronting the #MeToo movement in global shipping.

Ms Liodden is a former Director of Sustainability, Ocean Industries & Communication at Oslo Business Region, Project Manager at Oslo European Green Capital/Business program, Director of Nor-Shipping, Founder & SG of YoungShip International, and Project Manager Global Systems & Processes at Wilh.Wilhelmsen. 

Starting her first company at 28, Ms Liodden became the first female Director of a global leading shipping expo at the age of 32. Recently, she has established the first global ecosystem for entrepreneurs and innovators across ocean and renewable energy industries.

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Kuniko's (ASX: KNI) exploration plans for CY 22 are programmed to advance the company's current battery metal projects.

These activities include: 

- Diamond drilling at Skuterud Cobalt Project and evaluation of drill results
- Geochemical sampling of the ore trend and reconnaissance targets at Skuterud Cobalt Project
- Review and evaluation of a historical NI43-101 complaint resource from the historic Ertelien mine located at the Ringerike (Ni-Cu-Co) Project
- Stream sediment sampling at Ringerike (Cu-Ni-Co) Project
- Sampling and field work at the largely unexplored Nord-Helgeland LCT pegmatite field, prospective for technology metals.
- Geochemical sampling at Undal-Nyberget Copper Project

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Kuniko's (ASX: KNI) Skuterud Cobalt Project comprises 10 exploration licenses with an area of 52.12km2, located in central-southern Norway, due west of Oslo.

The project is prospective for meta- sedimentary hosted cobalt, copper and gold mineralisation. 

A maiden drill program has commenced to test three prospects within the Skuterud license, including the drilling of 7 holes with a total estimated meterage of 2,800m. All targets feature conductivity responses at depth. 

In February 2022, Kuniko was able to confirm that pre-existing drillholes surrounding the Middagshvile target were open at depth, engaging specialist geology firm GeoVista AB of Sweden to complete downhole geophysics surveys. 

GeoVista’s findings indicate:

(i) The presence of conductors which have been previously missed or only partially intersected by the existing drill holes.

(ii) The intersections between the modelled conductors and the drill holes that were observed, correspond to evidence of mineralization in core assays obtained by the previous explorer.

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Kuniko (ASX: KNI) aims to extend historical battery metals resources on our project sites by applying modern exploration and processing methods, with a commitment to a net-zero carbon footprint. 

Exploration activities have identified multiple anomalies across our copper and cobalt projects, in addition to drill targets at our flagship Skuterud cobalt project. Drilling activity commenced on 2 May 2022.

Kuniko is well positioned for an exciting period of continued development, set against the backdrop of a long-term outlook for high-value ethically-sourced battery minerals.

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Kuniko Limited (ASX: KNI) kicks-off drilling at its first target of the Skuterud Cobalt Project on schedule.

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Kuniko's (ASX: KNI) Exploration Manager, Trond Brenden-Veisal, and Consultant Geologist, Liz Thompson, recently met with our stakeholders from the cobalt museum, Blaafarveværket, to inform and discuss our drilling and sampling programs at our Skuterud Cobalt Project. 

Kuniko will commence its maiden drilling program from today, on the 250th anniversary of cobalt discovery at Skuterud.

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Europe faces a critical shortage of clean-energy metals and needs to decide urgently how it will bridge the looming supply gap or risk new dependencies on unsustainable producers.

These findings emerge from a new study commissioned by Eurometaux, the industry group representing big metal producers Glencore and Rio Tinto.

The report provides EU-specific numbers in regards to last year's warning from the International Energy Agency of supply chains owing to the amount of metals needed for batteries.

Global shortages of lithium, cobalt, nickel, rare earths and copper are expected to emerge over the next 15 years due to a lack of new mining projects, and competition from other countries seeking to decarbonise.

Liesbet Gregoir, lead author of the report states, "Europe needs to decide urgently how it will bridge its looming supply gap for primary metals. Without a decisive strategy, it risks new dependencies on unsustainable suppliers".

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	Jun '19	Jun '20	Dec '21	Dec '22	Dec '23
net income	-112.96K -	-202.51K 79.27%	-2.04M 907.12%	-2.73M 33.73%	-5.14M 88.33%
depreciation and amortization		185.24K -	303.05K 63.60%	14.64K 95.17%	17.60K 20.17%
deferred income tax			-1.02M -	-532.51K 47.91%
stock based compensation			903.59K -	257.92K 71.46%
change in working capital	-11.71K -	924 107.89%	1.19K 28.68%	-75.35K 6,437.34%	285.00K 478.24%
accounts receivables	-740 -	256 134.59%	23.04K 8,900%	-3.98K 117.27%	116.45K 3,026.51%
inventory
accounts payables	-10.97K -	668 106.09%	161.33K 24,050.90%	-241.32K 249.58%	150.61K 162.41%
other working capital			-183.18K -	169.95K 192.78%	17.95K 89.44%
other non cash items	109.04K -	1 100.00%	1.03M 102,712,300%	1.26M 22.38%	1.83M 45.88%
net cash provided by operating activities	-15.63K -	-16.34K 4.55%	-826.80K 4,959.69%	-1.81M 118.39%	-3.00M 66.15%
investments in property plant and equipment	-334.13K -	-160.24K 52.04%	-1.45M 803.90%	-4.76M 228.59%	-4.62M 2.89%
acquisitions net
purchases of investments			-4.86K -
sales maturities of investments
other investing activites
net cash used for investing activites	-334.13K -	-160.24K 52.04%	-1.45M 806.93%	-4.76M 227.49%	-4.62M 2.89%
debt repayment	-347.93K -	-176.61K 49.24%	-300K 69.87%	-594.21K 98.07%
common stock issued			7.73M -	8.53M 10.35%	7.78M 8.82%
common stock repurchased				-406.66K -
dividends paid				-7.53M -
other financing activites		176.61K -	-1 100.00%	7.53M 753,213,500%
net cash used provided by financing activities	347.93K -	176.61K 49.24%	8.03M 4,448.24%	7.53M 6.23%	7.78M 3.30%
effect of forex changes on cash		1.70K -	-11.61K 782.37%	-89.36K 669.39%	-112.15K 25.51%
net change in cash	-1.83K -	26 101.42%	5.77M 22,178,461.54%	877.83K 84.78%	46.28K 94.73%
cash at beginning of period	3.53K -	1.70K 51.74%	1.73K 1.53%	5.77M 333,512.20%	6.70M 16.09%
cash at end of period	1.70K -	1.73K 1.53%	5.77M 333,512.20%	6.65M 15.22%	6.74M 1.45%
operating cash flow	-15.63K -	-16.34K 4.55%	-826.80K 4,959.69%	-1.81M 118.39%	-3.00M 66.15%
capital expenditure	-334.13K -	-160.24K 52.04%	-1.45M 803.90%	-4.76M 228.59%	-4.62M 2.89%
free cash flow	-349.76K -	-176.58K 49.51%	-2.28M 1,188.48%	-6.56M 188.54%	-7.62M 16.10%

EU:KUNIKO

Kuniko

Last Close

0.19

22/11 03:11

Market Cap

19.09M

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Volume Today

17.04K

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