Augment Partners

Personal and tailored investment banking advisory.

[Augment Partners @PartnersAugment]

The Canadian gold explorer, @fnmetals, is conducting a private placement ahead of its planned dual listing of SDRs on Nasdaq First North Growth Market Sweden. The expected first day of trading is on Friday, 21 March 2025.

The flagship project – Barsele, a joint venture with senior gold producer Agnico Eagle, is Sweden’s and one of Europe’s largest development-stage gold projects, with a NI 43-101 compliant resource of 2.4 million oz gold.

The subscription period closes tomorrow, 11 March 2025, at 15:00 CET. Read more about the transaction and subscribe for SDRs here: https://t.co/PNDpT0Mu7W

[Augment Partners @PartnersAugment]

Cont. (2/2)

We also cannot overlook the remarkable performance of cryptocurrency in 2024, with Bitcoin crossing 100,000 USD for a while and achieving a +150% return for the year. Institutional capital inflows in the U.S. and favorable regulatory developments were key drivers. As global sovereign debt reaches record highs relative to GDP, demand for alternative non-fiat assets like Bitcoin is likely to grow. Asset managers in this space offer a compelling way for investors to gain exposure without full exposure to specific currencies.

We’ve had the pleasure of welcoming new Certified Adviser clients during the year, and we are open to discussing this offer with more well-run First North companies. Sweden and Finland boast many high-quality B2B tech firms, and we are eager to explore opportunities with entrepreneurs and investors. Promising sectors include gaming, data- and cybersecurity, software, iGaming, and security in general. We are always happy to discuss ideas and potential transactions.

There has been no Santa Claus rally in sight so far, but we hope these first positive trading days of the year will gather momentum and set the tone for the rest of 2025.

Wishing you all the best for 2025.

[Augment Partners @PartnersAugment]

A new year’s greeting from Augment (1/2):

As we’ve closed the books on 2024, the OMX Stockholm PI ended the year +5.7% (OMX 30 at +3.6%). Factoring in dividends, the annual return fell slightly short of the classic required return and the historical average of 7-8%. Meanwhile, the OMX Helsinki PI faced another challenging year, closing at -6.8%, reflecting weak GDP growth (recession in 2024) and the ongoing impact of global geopolitical tensions on Finnish stocks. U.S. stock markets delivered another stellar year, with the Dow Jones up +13% and the Nasdaq surging +29%. With a president-elect who views stock market performance as a key measure of success, the stage is set for potentially more strong years ahead.

The First North Stockholm All-Share Index had another weak performance at -2.5%, largely driven by the financing risks associated with unprofitable companies. However, the OMX Small Cap PI gained +8.8%, validating predictions - ours included - that small caps would be among the winners in 2024. While not the dramatic rebound some expected, many quality micro- and small caps showed excellent progress. As we move into 2025, we remain optimistic about smaller companies. We seek winners among the combination of non-cyclical, sufficient growth and strong free cash flows. Nothing revolutionizing, but keeping it simple is often rewarding. Nordic banks and their cash yields also look attractive.

The second half of 2024 saw a slight revival in risk sentiment, buoyed by several IPOs and other transactions. The online pharmacy Apotea demonstrated that quality businesses can once again command premium valuations when going public - a positive sign for more listings and transactions in 2025. We are excited about several upcoming private placements and listed transactions in our pipeline. Looking at the US market there are several anticipated highly interesting IPOs for 2025 e.g. Klarna, Stripe, Databricks, CoreWeave. For Nordic investors we think the listed investment company Flat Capital is an excellent way to get exposure to similar unlisted companies, often at the cutting edge of technology, long before they IPO.

In the junior mining sector, some consolidation has started to take shape, and we expect this trend to accelerate in 2025, creating value for both companies and investors. Across all sectors, consolidation is likely to persist, with buyouts and reverse takeovers continuing to unlock opportunities. For several micro- and small caps, low trade liquidity and valuations may reduce the appeal of remaining listed, paving the way for creative capital markets transactions. We are happy to discuss opportunities regarding this.

We understand most investor types, from venture capital funds to private investors, still hold a lot of cash. It was quite comforting to enjoy a close to 4% risk-free rate at the beginning of last year, even though real rates remained pressured by inflation. Falling interest rates helped improve sentiment in the latter half of the year and will likely create foundations for more transactions in 2025. However, investment terms must remain attractive given record-high equity risk premiums. For unprofitable companies, demonstrating a clear and credible path to positive cash flows is essential to secure capital at balanced valuations.

[Augment Partners @PartnersAugment]

Canadian miner First Nordic to List on Nasdaq First North Growth Market https://t.co/YFPW6gbQnT

[Hanna Andreen @HannaWachtmeist]

Dethär är riktigt kul 💥

[Flat Capital @FlatCapital]

Nu går vi live om 10 min - in och kika!! 📺
Och ställ gärna frågor, skriv bara under som kommentar!

https://t.co/IWKp5lPlUb

[Augment Partners @PartnersAugment]

Positive step towards consolidation in Nordic junior mining: Arctic Minerals acquires REEM, adding two Swedish assets to its portfolio, and raises 13.6 MSEK to fund future advancements

https://t.co/cKmevtWYun via @MFN_IRnews

[Misswee @missswee]

Köpta VD-intervjuer i podd är normalt stentrist, men när @ProkopovicRade betalar @Skamvranmedia för att roasta $SOZAP, och mannen börjar med ”min dotters veckopeng får kursen att röra på sig”, så lyssnar jag 😅🔥 @GamingInvestor

https://t.co/FHTunaJ29H

[Di Digital @didigital_se]

Sebastian Siemiatkowskis investmentbolag Flat Capital är på väg att ta in 80 miljoner från familjen Douglas och Axel Johnson-gruppen.
”Ambitionen är att fortsätta placera i nya bolag, och kanske även i befintliga”, säger vd:n Hanna Wachtmeister. https://t.co/gxcdN29ZY2

[Flat Capital @FlatCapital]

Vi tar in kapital till vår fortsatta resa!
I samma veva får vi in fantastiska investerare, Dusco (fam Douglas) & Altocumulus ⭐️
Nu ser vi fram emot att fortsätta ta tillvara på alla de möjligheter som uppstår genom vårt nätverk, hoppas ni vill vara med! ☀️
https://t.co/392tMIvOeX

[Augment Partners @PartnersAugment]

Ekobot’s rights issue subscribed to 130 per cent https://t.co/5f76RTiIST via @MFN_IRnews

[Eurobattery Minerals @eurobatterymin]

Don't miss the digital investor meeting later today with CEO @Roberto_GarMar! If you cannot follow the presentation in real-time, you can watch the event afterwards. Please note that the meeting is in English. Register here → https://t.co/YtczB6qXsl

[Per Storm @storm_per]

Lyssna på Mahvie Minerals investerarpresentation den 1 december om varför alla nya gruvprojekt behövs. #zink, #koppar, #bly, #grönomställning. https://t.co/ghdOvEfA4H

[Augment Partners @PartnersAugment]

Don't miss out! Register here: https://t.co/TO8sKDugVA @eurobatterymin @NorthgoldAB @aktiealbin @financialhear @Roberto_GarMar @storm_per

[Augment Partners @PartnersAugment]

“Europe needs to decide urgently how it will bridge its looming supply gap for primary metals. Without a decisive strategy, it risks new dependencies on unsustainable suppliers” https://t.co/oIo6MYCjz5 @eurobatterymin @Roberto_GarMar

[Augment Partners @PartnersAugment]

Cannabis investment company ENEXIS intends to list its shares on Nasdaq First North Growth Market https://t.co/GLniD54a56 via @MFN_IRnews

[Augment Partners @PartnersAugment]

Intervju med Mitch Vanderydt, VD på #Northgold

https://t.co/JULP4nmSZF

[Augment Partners @PartnersAugment]

By popular demand, here’s the link to see @FlatCapital 's digital investor meeting alongside @aktiealbin again: https://t.co/27Zv1GOfi4

[Albin Kjellberg @aktiealbin]

På tisdag kl 12 samtalar jag med @klarnaseb & @HannaWachtmeist om Flat Capital. Har ni några frågor till bolaget? 🧐 Anmäl er här och ställ frågor live 👇
https://t.co/m3cSatHSgK

[Nicklas Andersson @Investeraren]

PODD‼️🔥 Lär känna investeringsbolaget Flat Capital som grundades av Klarnas VD Sebastian Siemiatkowski och hans fru Nina. I podden får du lära känna bolagets VD @HannaWachtmeist som berättar om investeringsfilosofin, innehaven o mkt mer 🤓💫 #PrataPengar https://t.co/0G8MCAXSIh