Capella Minerals

Name

Capella Minerals

Legal name

Capella Minerals Limited

Website

https://capellaminerals.com

Company type

Public

Founded year

2005

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Mineral Exploration

NAICS

Gold Ore and Silver Ore Mining (21222), Copper, Nickel, Lead, and Zinc Mining (212230), Support Activities for Mining (2131)

SIC

Metal Mining (1000), Gold And Silver Ores (1040), Miscellaneous Metal Ores (1090)

akta.pro primary industry

Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling) (IMAKAKAA)

akta.pro secondary industries

Precious Metals Exploration & Project Development (IMAKAEAI), Copper Exploration & Resource Development (IMAKADAA)

Keywords

• Mineral exploration services
• Gold-copper exploration
• Copper-cobalt-zinc projects
• Iron oxide copper gold
• Earn-in partnerships

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Project Partnerships and Earn-in Agreements: Capella enters into staged earn-in agreements with partners who fund exploration programs. Partners earn incremental equity (30% to 80%) by meeting exploration expenditure commitments. Capella retains carried interests and NSR royalties on projects after partner withdrawal or dilution.
2. Asset Divestiture and Royalty Retention: Capella divests non-core assets while retaining Net Smelter Royalties (NSR) and equity positions. Examples include retained 10% carried interest in Løkken (Teako Minerals), NSR on Savant Gold Project (BeMetals Corp.), and NSR on Central Finland Lithium Projects (Grit Metals Corp.).
3. Equity Financings: The company raises capital through private placements to fund exploration activities and general corporate purposes. Recent financings include C$1,500,000 (November 2025), C$1,253,250 (March 2024), and C$1,611,600 (October 2022).

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Capella Minerals Limited is a junior mineral exploration and development company focused on high-grade copper and gold projects in Scandinavia (Finland and Norway) and the Iberian Peninsula (Spain). The company advances its project portfolio primarily through partner-funded earn-in agreements (notably with Tümad Madencilik, Teako Minerals, and Verde Minerals) and retains Net Smelter Royalties and carried interests as long-term value mechanisms following asset divestiture or partnership dilution.

Product overview

Capella Minerals Ltd is a mineral exploration and development company focused on gold-copper projects globally. The company operates a portfolio of exploration projects across Scandinavia (Finland and Norway) and Spain, structured as individual project assets rather than a unified software platform. Key projects include the Hessjøgruva-Kongensgruve copper-cobalt-zinc project (100% owned) and Løkken project (10% carried interest with Teako Minerals) in Norway; the Northern Finland Gold-Copper Project (70-80% interest) in Finland; and the Solana IOCG Project (earn-in to 75%) in Spain. The company conducts systematic exploration including diamond drilling, Base of Till geochemical sampling, and resource evaluation, often funded through strategic partnerships such as the Tümad Madencilik earn-in agreement.

Differentiator

Problem solved

Functional benefit

Products and services

• Hessjøgruva-Kongensgruve Copper-Cobalt-Zinc Project 100%-owned high-grade copper-cobalt-zinc VMS project in the Røros Mining District of central Norway. Advanced exploration-stage project with approximately 12,000m of historical core drilling, featuring three mineralized lenses (A-C) with Lens A hosting high-grade mineralization open down-dip. Kongensgruve contains four known former copper mines plus a former mineral processing facility.
• Løkken Copper-Cobalt-Zinc VMS Project High-grade copper-rich massive sulfide (VMS) project in Trøndelag County, central Norway. Capella retains a carried 10% interest through production via partnership with Teako Minerals Corp. Covers the former Løkken underground copper mine, reported as the largest ophiolite-hosted Cyprus-type VMS deposit globally with historical production of 24Mt @ 2.3% Cu and 1.8% Zn.
• Northern Finland Gold-Copper Project Gold-copper exploration project in the Central Lapland Greenstone Belt of Northern Finland. Capella holds an initial 70% interest (earn-in to 80%). Includes five exploration licences (Killero E, Killero W, Saattopora W, Jolhikko, and Seisunselka) adjacent to the Sirkka Thrust Zone, with high-priority BoT anomalies from Anglo American PLC and potential extensions to Outokumpu Oy's former Saattopora gold-copper mine.
• Solana Iron-Oxide Copper-Gold (IOCG) Project District-scale IOCG project located 80 km NW of Almeria in southern Spain, comprising a 35+km long belt of former high-grade copper-gold mining operations (Cerro de Gallo, Solana, Conde Xiquena). 2026 exploration focuses on evaluating buried IOCG deposits and resource potential of extensive vein systems.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core, secondary and minor.

• Verde Minerals LtdcoreStrategic or Co-development Partner · 15 January 2026Earn-in agreement on district-scale Solana IOCG project in southern Spain. Capella can earn up to 75% through phased exploration: Phase I (30%) by completing minimum exploration commitment within 12 months; Phase II (51%) within 24 months; Phase III (75%) within 72 months including Pre-feasibility Study.
• Tümad Madencilik Sanayi Ve Ticaret A.S.coreStrategic or Co-development Partner · 2 September 2025Turkish gold mining company (produces ~200,000 oz Au/year) signed Definitive Agreement for staged earn-in on Capella's Scandinavian portfolio. Phase 1 commitments: USD 2.5M+ for Norwegian copper-cobalt-zinc projects (8,000m drilling) and USD 1.25M+ for Finnish gold-copper projects (4,000m drilling). Optional Phase 2 and 3 for 51% and 80% interests respectively. If Tümad withdraws after Phase 1, retains 1% NSR.
• Teako Minerals Corp.coreStrategic or Co-development Partner · 19 August 2024Strategic partnership on Løkken copper-cobalt-zinc VMS project in Norway. Teako acquired 90% interest for CAD 350,000 cash, 2.5M Teako shares, drilling commitment on Amot target, and commitment to advance two further targets to drill-ready status. Capella retains 10% carried interest to production.
• Cullen Resources Limited (Cullen Oy)secondaryStrategic or Co-development Partner · 24 August 2021Northern Finland Gold-Copper Project acquired from ASX-listed Cullen Resources through earn-in. Capella holds 70% interest (earn-in to 80%) with Cullen free-carried to PFS. Requires USD 250,000 exploration investment and USD 225,000 cash payments (completed). Project includes Killero E, Killero W, Saattopora W, Jolhikko, and Selsunselka exploration licences.
• BeMetals Corp.minorStrategic or Co-development PartnerNet Smelter Royalty (NSR) retained by Capella on the Savant Gold Project in Ontario, Canada. Royalty retained as part of non-core asset divestiture.
• Grit Metals Corp.minorStrategic or Co-development PartnerCapella holds equity position in Grit Metals Corp. (formerly European Energy Metals Corp) and retains NSR on Central Finland Lithium Projects following divestiture of non-core assets.

Scale indicators8 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Teako Minerals Corp: Junior exploration peer with which Capella holds a direct partnership on the Løkken copper-cobalt-zinc VMS project in Norway. Teako operates a Scandinavian-focused portfolio with similar metals exposure (copper, cobalt, zinc), making it the closest operating comparable to Capella.
• Verde Minerals Ltd: Junior IOCG-focused explorer that holds the Solana earn-in with Capella in southern Spain. Operates a district-scale copper-gold portfolio and pursues the same IOCG thesis that anchors Capella's most recent expansion.
• Awale Resources Ltd: West African gold-copper junior explorer where Capella CEO Eric Roth sits as Non-Executive Director. Operates a partner-funded exploration model analogous to Capella's earn-in approach, with a comparable market cap and stage.
• Mirasol Resources Ltd: Precious-metals junior explorer founded by Mary Little (now a Capella director). Pursues district-scale gold-silver projects in Chile and Argentina using a similar prospect-generation and joint-venture model. Directly comparable in stage, model, and board overlap.
• BeMetals Corp: Canadian junior explorer/developer on the Savant Gold Project where Capella retains an NSR royalty. Similar market cap, similar metals focus, and direct transactional history with Capella through royalty retention.
• Foran Mining Corporation: Canadian copper-zinc developer with advanced-stage VMS projects in Saskatchewan. Operates in the same ore-deposit family as Capella's Løkken and Hessjøgruva VMS assets, though at a more advanced development stage with published resources.
• Tudor Gold Corp: Canadian gold-copper explorer with British Columbia roots, pursuing district-scale gold systems. Comparable jurisdictional comfort, commodity mix, and junior-explorer capital structure with active drilling programs.
• Grit Metals Corp (formerly European Energy Metals): Junior explorer in which Capella holds an equity stake and where Capella retains an NSR on the Central Finland Lithium Projects. Comparable small-cap, multi-commodity junior explorer with Nordic exposure.
• Northstar Gold Corp: Canadian junior gold explorer with properties in Ontario, including the Cam Copper and Miller gold projects. Comparable market cap, pre-resource profile, and Canadian-listed junior exploration business model.

Broad incumbents

• Sandstorm Gold Ltd: Established precious-metals royalty and streaming company that acquired Mariana Resources (Capella CEO's prior company) for the Hod Maden discovery. Operates broadly across the gold-copper royalty space that Capella's retained NSRs feed into.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/CapellaMinerals
• LinkedInlinkedin.com/company/capellaminerals

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries2 records

Funding overview

Funding rounds4 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Capella Minerals