Blue Moon Metals Rebuts Short-Seller Claims Over Nussir Project

Management at Blue Moon Metals characterized the Viceroy report as a "short-and-distort" attempt designed to benefit from a decline in company share price. Central to the dispute is the potential impact of a June 2026 Norwegian Supreme Court ruling concerning the unrelated Engebø mining project. While Viceroy alleged this decision would revoke Nussir’s environmental permits, Blue Moon asserts that the two projects are not equivalent. The company noted that the Norwegian government has expressly declined to treat them as such, and that the Engebø project itself continues to operate during a regulatory reassessment.

Norwegian Minister of Trade and Industry Cecilie Myrseth reinforced this position, highlighting the project’s strategic importance to European raw material supplies. The European Commission has designated Nussir as a strategic project under the EU Critical Raw Materials Act, a status that underscores its public interest. Beyond its Norwegian operations, Blue Moon addressed its North American portfolio, specifically the Springer tungsten complex. The company stated that market conditions have improved significantly, with tungsten prices rising from approximately $600 per metric ton unit to over $3,000 since October 2025. Blue Moon emphasized that its financial position is robust, with sufficient liquidity to meet credit obligations regardless of the claims raised by short sellers.