I wouldn’t have believed I’d see 9 NOK prices at this stage of the company’s lifecycle.
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is there any owner/ex-owner still involved/following the company here?
I myself sold my position at a loss when the lawsuits were prominent. well, I am ready to get hurt again!
The contemplation or question in the case is:
Will the state/permit grantor win the legal dispute and NOM be allowed to dump the rocks/mining “waste” into the fjord (this was opposed and a Norwegian court ruled that it should not be allowed)? The final decision should be announced in April-May (?).
Will there be further dilution of the stock? The cash situation has been somewhat patched up with recent share issues.
So, I would consider the company interesting if:
- The placement of mining waste receives legal blessing
- There is no further dilution
- Mining operations start as planned (there have apparently been some delays)
I would love to hear others’ thoughts on the company; somehow this weekend I went through my own “failures” and NOM came to mind, but at its best, the company’s story is just beginning… or ending, of course
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Yes, I’m still involved with full weight. Since 2012, participating in countless share issues, so I have to see it through to the end. Now we are actually quite far along and the mine is up, but setbacks just continue. I’ve been following the ramp-up problems with great frustration. In hindsight, I have to say I didn’t see it coming that after all the permits and lawsuits, there’s still the challenge that the mine isn’t technically getting up and running. For those more familiar with mining, this probably didn’t come as a surprise.
Right thoughts, in my opinion. What’s essential for the current investment is whether the mine can be set up according to current plans. Already, due to these delays, liquidated damages have to be paid at least to Barton, perhaps to others too. If the mine is still not running at full capacity by the end of this year, things will get difficult. Then more money will be needed again, and there’s also the threat of new contract breaches. One just has to hope that the measures taken are effective. In the production update that came out the day before yesterday, this is promised, of course, but there wasn’t really much meat on the bones. Everything still depends on getting the problems solved in Q2.
In addition to these technical problems, there are of course still those two legal cases. That larger state vs. environmental organizations case (which you referred to) goes to the Supreme Court at the end of this month, and the verdict will probably take a few months. In the other legal case, where NOM is directly involved, the Court of Appeal’s decision will be released today after the market close. It disputes whether NOM is allowed to continue operating while waiting for that Supreme Court decision. NOM won in the district court; we’ll see how it goes now.
If a year from now all these problems are solved, the financing is in order, things are running, and dividends start trickling in within this decade, then I’ll be satisfied. If not, then I won’t.
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The verdict is out, here translated by Google:
117-01-Kjennelse-av-15.-april-2026-2.pdf (1.7 MB)
NOM won, the environmental organizations’ appeal was dismissed. They are required to pay the district and appellate court legal costs to NOM. This is a good place to move forward; next, there are two things to focus on: the Supreme Court’s decision on the other legal case and the success of the mine’s ramp-up.
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