Round 2 Investments


Northgold (NG.NFN) is a Swedish based gold exploration and development company that listed on Sweden’s Nasdaq First North market in March 2022. Starboard created NG in order to acquire a number of gold projects in the Middle Ostrobothnia Gold Belt (MOBG) in central Finland and was a significant investor in the IPO. NG is advancing two resource-stage gold projects, Kopsa and the Kiimala Trend. NG’s projects host NI 43-101 and historic (informal) combined Mineral Resources of 725.4koz AuEq*. The flagship Kopsa project contains a total NI 43-10 Mineral Resource of 16.3Mt @ 0.81g/t Au and 0.16% Cu (1.06g/t AuEq*) for 554.6koz AuEq*. A Preliminary Economic Assessment (PEA) completed in 2013 highlighted the economic potential of Kopsa on a limited open pit mining resource of 7.57Mt, using a far lower gold price. Drilling commenced at NG’s projects in May 2022 with a 5,000m drilling program targeting resource expansion at both projects. NG is aiming to establish a 1Moz mine resource for development by growing existing resources and via new discoveries in this underexplored gold province.



Nordic Nickel Limited (NNL.ASX) is an Australian public company that listed on the ASX in May 2022. NNL was incorporated by Starboard in January 2021 for the purposes of acquiring the Pulju Nickel Project and is also earning into the Maaninkijoki 3 Nickel-Copper Project. Both projects are located in the Central Lapland Greenstone Belt (CLGB) in Finland which is considered one of the most prospective regions in the world for magmatic nickel sulphide deposits. The flagship Pulju Project has seen little modern exploration activity despite the advancement in magmatic nickel sulphide exploration methods. Following listing, NNL plans on conducting several geophysical surveys in order to define drill targets and ultimately complete 20,000m of drilling in 2023. Starboard managed the listing of NNL onto the ASX in a US$8.3m IPO with a post-listing market capitalisation of US$20m.



Stampede Metals Corporation (SMC) is a private Nevada corporation that holds 100% interest in the Stampede Gap Project, located in the Highland Mining District, Pioche, Nevada. SMC also has under option an adjacent land package owned by Renaissance Exploration Inc, a subsidiary of TSXV listed Orogen Royalties. SMC was formed in September 2020 by Starboard and local joint venture partners to acquire and incubate the Stampede Gap Project. The Project is prospective for large tonnage Cu-Mo-Au deposits, polymetallic (Pb-Zn-Cu-Ag-Au) carbonate replacement deposits (CRD or manto) and Mo-Cu skarn deposits and sediment hosted Au deposits. Drilling completed in 2021 confirmed the Mo prospectivity in skarn lithologies interpreted to have formed from hydrothermal fluids derived from a proximal porphyry intrusive. SMC is planning an IPO in 2023.


MAGSTAR MINING OY (Battery Metals)

Magstar Mining Oy (“Magstar”) is a private Finnish company formed between Starboard Global and Finnish private project generators Magnus Minerals Oy. Magstar is the 100% owner of the Maaninkijoki Project consisting of six contiguous tenements in the Central Lapland Greenstone Belt that are prospective for magmatic Ni-Cu sulphides. The exploration licences and applications are located in the same region as the Sakatti Ni-Cu-PGM deposit (Anglo American) and Kevitsa Ni-Cu-PGM mine (Boliden). Magstar recently entered into earn-in and joint venture agreements over some of its tenements with Nordic Nickel Ltd (“NNL”) and First Quantum Minerals Ltd (“FQM”).


Perito Metals (“Perito”) is a private Australian company holding 75% of the Moura Project in Portugal. Moura consists of a 400km2 exploration licence located in the Iberian Pyrite Belt of southeastern Portugal prospective for zinc-lead-copper VMS and SEDEX style deposits. Perito’s 25% partner at Moura is WalZinc, a Belgian mineral exploration company. The project contains known high-grade Zn-Pb deposits and previously operating Zn-Pb mines. Drilling in 2010 discovered high-grade disseminated copper intersections located underneath the known Zn-Pb mineralisation at the Enfermarias prospect, coincident with a major copper-in-soil anomaly at surface. The project is located in the same region as the Lagoa Salgada Zn-Pb-Cu discovery (Ascendant Resources) and Sandfire Resources’ MATSA operations in nearby Spain.