Press release from Companies
Publicerat: 2025-11-25 21:51:53
Nidhogg Resources Holding AB (publ) (the "Company" or "Nidhogg") announces that the Al Baraka gold project in Egypt will not continue.
On November 25, 2025, the Company has been informed that the counterparty will not implement the corporate and legal requirements for the Company to complete the transaction. The Company has invested a total of approximately SEK 600 000 in the Al Baraka project through due diligence and legal work.
On April 26, 2025, the Company announced the signing of a non-binding Letter of Intent with the owners of Al Baraka Mining & Quarries Company ("Al Baraka") for an investment into and the operatorship of its gold license. The Letter of Intent stated that the Company, or its subsidiaries, would acquire up to 95 percent of Al Baraka through two instalments totalling USD 1,000,000. None of these instalments have been made.
On July 3, 2025, the Company signed a binding Head of Terms agreement with Enserv International L.L.C. ("Enserv") regarding an investment of USD 500,000 in Nidhogg Energy AB, a wholly-owned subsidiary of Nidhogg. The Company also communicated its own preliminary calculations that the 100% share of the project would have a NPV10 of more than USD 4,000,000 with IRR of more than 50%, based on historical average monthly production of 1.25 kg. As the agreement with Enserv was directly linked to the Al Baraka project, this investment by the Company will no longer take place.
On August 11, 2025, Nidhogg announced that the due diligence process confirmed the project''s significant gold potential.
This information is inside information that Nidhogg Resources Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication on November 25, 2025 at 21:50 CET by the following contacts.
Contact
Niclas Biörnstad, CEO Nidhogg Resources Holding AB (publ)
E-mail: niclas@nidhoggresources.com
Phone: +46 707299769
About Nidhogg Resources
Nidhogg Resources Holding AB (publ), www.nidhoggresources.se, is a Swedish limited liability company with a focus on commodities. Nidhogg was founded by individuals with a total of over 60 years of experience in the commodities market, with backgrounds ranging from exploration to exploitation as well as sales and a passion for extracting raw materials by applying innovative technology together with existing infrastructure.
