# First Nordic Metals

First Nordic Metals is an Asset Manager based in Vancouver, Canada.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Vancouver, Canada
- **Region:** North America
- **Address:** Vancouver, BC, Canada
- **Founded:** 2012
- **Assets under management:** Undisclosed
- **Website:** firstnordicmetals.com

## Regulatory record

- **Reports private funds:** No

## About

First Nordic Metals was incorporated in 2012 under the leadership of President and CEO Taj Singh. The company was formed to consolidate prospective mineral licenses in Sweden and Finland, two jurisdictions that rank among the world's most attractive for mining investment. Its primary focus is gold exploration, with silver and base metals as secondary targets across the Fennoscandian Shield. The company's strategy centers on advancing its flagship Barsele gold project in northern Sweden, a volcanogenic massive sulphide deposit with an existing mineral resource. Barsele is operated under a joint venture with Agnico Eagle Mines, which owns a 55% stake and acts as operator. First Nordic retains a 45% carried interest with no requirement to fund exploration until a feasibility study is delivered. In Finland, the company holds the Oijärvi gold project, a 100%-owned land package situated along a known greenstone belt. The portfolio also includes several early-stage properties targeting gold, copper, and nickel across the region. First Nordic operates from its headquarters in Vancouver, with a small technical team coordinating exploration activities through local subsidiaries in Sweden and Finland. The company went public via a reverse takeover transaction in 2012 and trades on the TSX Venture Exchange. In May 2024, the company changed its name from Barsele Minerals to First Nordic Metals, signaling a broader Nordic regional strategy beyond the single flagship deposit (per the firm, May 2024). The company's market capitalization and capital deployment capacity are tied to equity market conditions for junior explorers. First Nordic's defining structural feature is its 45% free-carried interest in a multimillion-ounce gold system operated by Agnico Eagle, a major gold producer. This arrangement gives the company exposure to exploration upside without the typical funding dilution that early-stage explorers face. The Oijärvi and other wholly owned properties provide additional upside but require the company to raise capital independently to advance them. The firm's access to the Fennoscandian Shield benefits from infrastructure, skilled labor, and mining-friendly policy across Sweden and Finland.

## Sectors

- Energy Transition & Renewables

## People

- Taj Singh — President and CEO
- Adam Cegielski — CEO

## Questions

### Who runs investment and operational decisions at First Nordic Metals?

Taj Singh serves as President and CEO, directing corporate strategy and project development. The technical work at Barsele is executed by operator Agnico Eagle Mines under a joint venture agreement. First Nordic's board provides oversight on capital allocation and partnership decisions.

### What is the nature of the Barsele joint venture with Agnico Eagle?

Agnico Eagle owns a 55% stake in the Barsele project and serves as operator, funding all exploration and development work. First Nordic holds a 45% carried interest with no obligation to contribute capital until Agnico Eagle delivers a feasibility study. After that point, First Nordic must fund its share or dilute its interest.

### What metals and jurisdictions does First Nordic focus on?

The company targets gold as its primary metal, with silver, copper, and nickel as secondary interests. All assets are located in Sweden and Finland, within the Fennoscandian Shield, a region known for its mining-friendly regulatory environment and developed infrastructure.

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Last updated: 2026-06-03T20:00:00.000Z

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