District Metals Stock Price, News & Analysis

District Metals Corp. (DMXCF) has signed a definitive agreement to acquire a 2.0% net smelter returns (NSR) royalty on its Viken Energy Metals Deposit in Sweden. The purchase price consists of 500,000 common shares of District, subject to TSXV approval and a 4-month hold period.

The Viken Deposit, located 570 km northwest of Stockholm, contains critical energy metals including uranium, vanadium, nickel, molybdenum, copper, zinc, and rare earth elements. The deposit has two historical mineral resource estimates: a 2010 estimate showing Indicated resources of 23,610k tonnes and Inferred resources of 2,830,757k tonnes, and a 2014 estimate indicating 43,000k tonnes in the Indicated category and 3,019,000k tonnes in the Inferred category.

The deposit is hosted in Alum Shales, which have been tectonically thickened from 20-30m to approximately 180m. The area has well-developed infrastructure including air service, rail, truck freight services, electrical power, and modern communications.

District Metals Corp. (DMXCF) announces that the Swedish Ministry of Climate and Enterprise has released the results of an inquiry into lifting the uranium mining moratorium. The government intends to remove the 2018 ban on uranium mining and restore previous legislation. Key outcomes include: uranium will be regulated as a concession mineral, and mining will be permitted in Sweden.

The next steps involve a written consultation until March 20, 2025, followed by a legislative proposal to Parliament. The changes are proposed to take effect by January 1, 2026. Sweden currently has six operating nuclear reactors providing 29% of the country's electricity, and the government supports expanding nuclear power capacity.

District Metals Corp. (DMXCF) has received conditional approval to list its Swedish depository receipts (DMX SDRs) on the Nasdaq First North Growth Market. The listing is subject to standard conditions, including publishing a company description, meeting distribution requirements, and website updates. The SDRs will trade under symbol 'DMXSE' while maintaining the current ISIN.

The company is seeking exemptive relief from Canadian authorities to maintain its 'venture issuer' status despite the Nasdaq First North listing. District Metals believes this secondary listing will enhance Swedish investor access and strengthen its shareholder base. The company has been active in Sweden since June 2020, focusing on critical raw materials exploration, including the Viken Property, which contains what is reported as the world's second-largest uranium deposit based on historical estimates.

District Metals Corp (TSXV: DMX) (OTCQB: DMXCF) held its annual general and special meeting on December 12, 2024, in Vancouver. Shareholders, representing 9.10% of outstanding shares, voted in favor of all items including the election of directors Garrett Ainsworth, Joanna Cameron, Jonathan Challis, and Doug Ramshaw. The meeting also approved Davidson & Company LLP as auditor and adopted a new Omnibus Incentive Plan.

The Omnibus Plan is a 10% rolling plan allowing the Board to grant stock options, restricted share units, performance share units, and deferred share units. A total of 13,056,587 shares are issuable under this plan, which replaces the previous stock option plan.

District Metals Corp (TSXV: DMX) (OTCQB: DMXCF) announces plans for a secondary listing on the Nasdaq First North Growth Market in Sweden by end of 2024. The company holds the second-largest exploration land package in Sweden (144,718 hectares), including the Viken Energy Metals Deposit, one of the world's largest uranium-vanadium deposits. District's portfolio includes four uranium polymetallic properties and the Tomtebo Property in the Bergslagen Mining District. Boliden Mineral AB has committed CDN$10.0M for exploration over four years. The company's technical team includes experts with significant experience in uranium and base metals exploration, led by CEO Garrett Ainsworth, who previously contributed to major uranium deposit discoveries.

District Metals Corp (TSXV: DMX) (OTCQB: DMXCF) has announced its application for a secondary listing on the Nasdaq First North Growth Market in Sweden, aiming to complete the listing before the end of 2024. The company has seen increased interest from Swedish shareholders, attributed to potential changes in Sweden's uranium mining regulations, District's Swedish uranium project portfolio, and its partnership with Boliden Minerals AB. The listing is expected to improve trading liquidity and increase exposure to Swedish investors and analysts. The company's Viken Property reportedly hosts the world's second-largest uranium deposit based on historical estimates.

District Metals Corp. highlights recent Swedish Parliament meeting records regarding the uranium moratorium, which directly impacts their 100% owned Viken Energy Metals Deposit in Sweden. During an October 11, 2024 meeting, Environment Minister Romina Pourmokhtari emphasized the government's commitment to nuclear power as a low-emission technology. The minister criticized current legislation that requires treating uranium as waste, stating the government intends to change this approach. She described the current requirement to dispose of uranium while importing it from elsewhere as an unwise use of resources that is harmful to both environment and climate.

District Metals Corp. (TSXV: DMX) (OTCQB: DMXCF) has commenced core drilling at the Stollberg Property in Sweden. The program includes 2,200 m of drilling in 5-6 holes at the historic Gränsgruvan Mine. Key points:

1. Drilling will be followed by Boliden's down-hole electromagnetic survey.
2. The property shares similarities with the Garpenberg Mineralized Trend.
3. Focus on expanding known mineralization and potential new discoveries.
4. The Stollberg Mineralized Trend is a 5.0 km long belt of Zn-Pb-Ag sulphide deposits.
5. Historical production at Gränsgruvan Mine: 0.26 Mt at 4.8% Zn, 2.1% Pb, and 29 g/t Ag.

The program aims to leverage geological data and advanced techniques to increase the probability of making new polymetallic discoveries in the region.

District Metals Corp. (TSXV: DMX) (OTCQB: DMXCF) (FSE: DFPP) has announced plans for a potential secondary listing on the Nasdaq First North Growth Market in Sweden. The company is providing notice to shareholders who wish to transfer their common shares from the TSX Venture Exchange to Swedish depository receipts (SDRs).

Shareholders interested in converting their shares to SDRs are advised to contact DNB Markets for detailed instructions. CEO Garrett Ainsworth noted an increase in Swedish shareholders, possibly due to excitement surrounding District's Viken energy metal deposit and potential lifting of Sweden's uranium moratorium.

Benefits of a Nasdaq First North listing include: a proven growth platform, an active market with strong investor demand, and increased visibility through the Nasdaq brand. The move aims to allow Swedish investors easier participation in District's development.