Blue Moon outlines germanium-gallium strategy at Utah mine
Blue Moon Metals Inc. [MOON-TSXV] has released assay results from its maiden bulk sample at the past-producing Apex germanium-gallium-copper mine in Utah.
“This initial sample program represents the first results following the closing of the acquisition of Apex from a subsidiary of Teck Resources Ltd. (TECK.B-TSX, TECK.A-TSX, TECK-NYSE) on March 16, 2026. A 100-kilogram sample was obtained from Apex and sent to the laboratory for analysis ahead of metallurgical testing. The sample was crushed and blended, with assay results highlighting 0.180% germanium, 0.0273% gallium and 1.96% copper. With assay results in hand, Blue Moon will continue with its planned metallurgical program to determine its own flowsheet options and also explore near term commercialization options.
Blue Moon shares advanced on the news, rising 3.36% or 28 cents to $8.60. The shares trade in a 52-week range of $11.80 and $2.96.
Germanium and gallium are both used in semi-conductor technology.
Prices for germanium and gallium have seen material increases in recent months with Fastmarkets estimating (as of June 26, 2026) current spot prices for Rotterdam delivery of germanium and gallium metal of US$10,000/kg Ge and US$2,650/kg Ga respectively.
In parallel with site activities, Blue Moon is exploring the potential to sell direct shipping ore (DSO) form Apex. This possibility of selling DSO relates to the high-grade nature of the primary germanium-gallium mineralization mined historically at the project, and the constrained germanium market ex-China. The company has received unsolicited interest form several major users and producers of germanium and gallium products. Permitting activities are ongoing, targeting a second quarter, completion of mine permitting following the relevant government permitting processes. Discussions on contract mining have also begun with a view of potentially starting DSO from Apex as soon as the third quarter of 2027. At a mining rate of 150 tonnes per day, Apex could potentially supply 100% of the domestic U.S. germanium demand from one U.S. supply source.
Blue Moon is advancing five brownfield polymetallic projects, including the Nussir copper-gold-silver project, the NSG copper-zinc-gold silver project in Norway and the Blue Moon zinc-gold-silver copper project in Central California.
Meanwhile, Blue Moon has announced the signing of a binding share purchase agreement with Alpha Future Funds to combine their Norwegian subsidiaries, Nye Sulitjelma Gruver AS (NSG) and VMS Exploration AS (VMS), which hold extraction and exploration permits over the historic Sulitjelma copper-gold district in Norway. VMS will acquire 100% of NSG for US$15 million payable in 1,285 new VMS shares at US$11,666.67 per share, giving Blue Moon a 30% stake in the combined entity. Closing is expected to occur around November, 2026, conditional on a minimum $10 million capital raise and VMS listing on a recognized exchange within 18 months. Sulitjelma historically produced 470,000 tonnes of copper and 130,000 ounces of gold over 100 years with existing surface and underground infrastructure and hydropower. The combined entity is planning to advance a feasibility study and exploration campaign targeting high-grade zone expansion.
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