Blue Moon Metals Inc.B
Blue Moon Metals Inc. (TSXV: MOON; Nasdaq: BMM, listed 26 Jan 2026) -- formerly Blue Moon Zinc Corp., and before that Savant Explorations Ltd. -- is a Canadian mineral exploration and development company advancing five brownfield polymetallic and critical-minerals projects in Norway and the United States. Its FLAGSHIP and stage-setting asset is the 100%-owned Nussir copper-gold-silver project in Finnmark, northern Norway: a Feasibility Study announced 16 April 2026 outlined a 13-year underground mine (nominal 6,000 tpd) with copper as 77% of payable metal, and the board confirmed a Final Investment Decision to construct on 27 April 2026. Underground construction had already begun ahead of the FID -- the company completed the first blast on the Nussir access portal on 12 June 2025 as part of an early, separately-authorized decline-development program (contractor Leonhard Nilsen & Sonner AS extending the decline ~2,500m) that generated the engineering data feeding into the April 2026 FID; this is not a chronological contradiction, it is a genuine two-stage real-world sequence (early access/exploration decline, then full-mine FID) common on brownfield underground projects. Hot commissioning is targeted Q3 2027 with first production in December 2027. The company simultaneously announced an intention to construct its 100%-owned Springer tungsten project (Nevada, USA) alongside a concurrent C$150M bought-deal equity raise.
Notable vs. Peers
- Financials score of 9.9/10 is stronger than the peer average of 5.4/10.
- All-in sustaining cost of $2.05/lb is 20% lower than the peer producer average of $2.56/lb.
Lifecycle Milestones
Construction Milestones
3 of 5 reached- Reached — date not disclosed · Source
- Apr 2026 · Source
- Jun 2025 · Source
- Not yet reached
- Not yet reached
Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
Not in place: mill. Not yet determined: tailings facility.
Jurisdiction (40%)8/10
Nussir is in Finnmark, northern Norway, an EEA member with Tier-1 rule of law, and its permitting pathway is proven now that the final investment decision is confirmed and underground construction is underway. Its plan to deposit tailings in the Repparfjorden fjord drew sustained Sami indigenous-rights and environmental opposition for over a decade before permits were secured.
Infrastructure (40%)6.4/10
No confirmed mill, confirmed road access, and confirmed grid power at Nussir Copper-Gold-Silver Project, Finnmark, Norway; tailings facility not yet researched, counted at a neutral 5/10 until established.
Nearby producing mine (20%)Not yet researched
No project coordinates on file yet, so distance to a producing mine can't be measured.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer stake on file; largest strategic holder is Monial AS (18.39%) See holders
Not an operating producer, so it isn't the toehold-then-takeout pattern the research documents; a missing producer stake isn't held against a company.
Weight 25% - Distance to a producing mineSub-score: Not yet researched
Distance not yet researched: no project coordinates on file
Distance can't be measured without coordinates, so excluded rather than counted as far.
Weight 22.5% - Lifecycle stageSub-score:7/10
Stage: Construction
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 57% here - JurisdictionSub-score:8/10
Norway: jurisdiction score 8/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 26% here - CommoditySub-score:8/10
Primary commodity: Copper
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 17% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
Independent Board Chair of Blue Moon Metals Inc. Over 35 years of global mining-operations experience. Chair of the ESG Committee at Equinox Gold; recently chaired Adventus Mining before its $235M sale to Silvercorp in July 2024; previously Interim CEO of IAMGOLD (2022-2023) and COO of Atlantic Gold (2016-2020), which sold for C$722 million.
CEO and Director of Blue Moon Metals Inc. 20+ years in mining across technical and finance roles. Founded Adventus Mining in December 2016 with $2M in assets, later selling it for $235M. Previously 10 years in investment banking, raising over $7 billion in financings and completing 35+ M&A transactions. Non-executive chairman of Surge Copper Corp.
Independent Director of Blue Moon Metals Inc. Research Chair Professor at Norwegian School of Economics; Adjunct Professor at Wharton. Expertise in M&A, corporate governance and bankruptcy; director at Nussir ASA and Maritime & Merchant Bank ASA.
Independent Director of Blue Moon Metals Inc. Investment Advisor to Baker Steel Resources Trust Ltd since inception. 35+ years in mining starting 1989; helped develop the Freda Rebecca (Zimbabwe) and Geita Gold (Tanzania) mines.
Independent Director of Blue Moon Metals Inc. Head of Department for Park and Sport, Alta Municipality, Norway, since 2007. Master's in Nature Management.
Independent Director of Blue Moon Metals Inc. President of LNS Group (founded 1989), a Norwegian tunnelling and mining company. Master's in Civil Engineering (rock excavation and mining), NTNU Trondheim.
Independent Director of Blue Moon Metals Inc. Managing Partner of Glencoban Capital Management since 2002. 30+ years in mining investment banking and operations; founded Centenario Copper Corp. in 2004, president until its 2009 sale. Board experience with 11 other public mining companies.
Independent Director of Blue Moon Metals Inc. Four decades in financial markets; Senior Managing Director at Deer Isle Capital, formerly CIO at Alpha Investment Management. Economics degree, University of Colorado Boulder.
President & COO of Blue Moon Metals Inc. 20+ years in project development and construction, including work at Kinross Gold.
CFO & Corporate Secretary of Blue Moon Metals Inc. 40+ years international financial experience, 18+ years in global mining.
SVP HR & Corporate Sustainability of Blue Moon Metals Inc. 20 years' experience in the mining industry; prior roles at Triple Flag and Barrick Mining.
SVP Projects of Blue Moon Metals Inc. 29+ years across mining and metals, oil and gas, and infrastructure sectors.
VP Exploration of Blue Moon Metals Inc. 13+ years as a mineral-exploration geoscientist across epithermal, porphyry and VMS deposits.
VP Mining of Blue Moon Metals Inc., appointed April 2025. 20+ years underground mining experience, including roles at Evolution Mining and Newmont Goldcorp.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
No smart-money tracking (institutional/large-investor activity) for this miner yet — this is a planned feature, not live data.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Blue Moon Metals, listed on the TSXV and, since 26 January 2026, on Nasdaq, is building the 100%-owned Nussir copper-gold-silver underground mine in Finnmark, northern Norway, after its board confirmed a final investment decision on 27 April 2026; hot commissioning is targeted for Q3 2027 and first production for December 2027. Nussir's measured and indicated resource contains 292,944 t of copper (28.72 Mt at 1.02% copper), with gold and silver credits. The April 2026 feasibility study shows an after-tax NPV8% of US$235M and a 19% IRR at consensus prices, with initial capital of US$184M, a 13-year mine life and an all-in sustaining cost of US$2.05/lb of copper. The company also intends to build its Springer tungsten project in Nevada, and its Blue Moon zinc-gold-silver-copper deposit in California carries only an inferred resource.