Bluelake Mineral is active within the area of nickel in Sweden. The subsidiary Nickel Mountain AB (“Nickel Mountain”) owns the nickel project Rönnbäcken, which according to a preliminary economic study from 2011 by the consulting company SRK contains a mineral resource of approximately 574 million tonnes with a content of 0.0174% nickel (“measured and indicated”). In this study, SRK anticipates a production of 26,000 tonnes of high-grade nickel concentrate per year for 20 years, which would be a significant proportion of Sweden’s total annual use of nickel and have a strategic value. Nickel Mountain also owns the Orrbäcken project, which consists of an exploration license that is considered to have potential as a nickel deposit.

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