Metals One PLC Update re Gunsynd Farm-In to Black Schist Project (6131T)
2023年11月16日 - 4:00PM
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RNS Number : 6131T
Metals One PLC
16 November 2023
16 November 2023
Metals One Plc
("Metals One" or the "Company")
Update re Gunsynd Farm-In to Finland - Black Schist Project
First stage farm-in payment received
Metals One (AIM: MET1), which is advancing battery metal
projects at brownfield sites in Finland and Norway, announces that
the Company has received the first stage payment of GBP250,000 from
Gunsynd Plc ("Gunsynd") pursuant to the subscription and
shareholders agreement between Metals One, Metals One Finland Oy
(formerly named FinnAust Mining Northern Oy) ("Metals One Finland")
and Gunsynd, as detailed in the Company's admission document.
Accordingly, Gunsynd will be issued with such number of shares
in Metals One Finland (a wholly owned subsidiary of Metals One) as
is equivalent to 6.25% of the voting rights of Metals One Finland.
This represents the first stage of Gunsynd's commitment to
subscribe for 25% of the voting rights of Metals One Finland, at an
aggregate subscription price of GBP1,000,000.
Metals One Finland holds Metals One's Finland - Black Schist
Project, with an Inferred Mineral Resource of 28.1 Mt of
Talvivaara-type mineralised material at a grade of 0.19% nickel
(53,800t), 0.10% copper (27,900t), 0.01% cobalt (3,400t) and 0.38%
zinc (180,000t) at the Rautavaara licence.
Metals One, as operator of the Black Schist Project in Finland,
will use the proceeds received from Gunsynd to carry out an
exploration work programme comprising an initial review and
modelling of the existing data, geophysical surveys, and drilling
programmes at the Rautavaara and Paltamo licences.
Alastair Clayton, Chairman of Metals One, commented:
"Metals One is in the advantageous position of being carried to
a large extent on two work programmes on its assets in both Norway
and Finland.
We are already in advanced negotiations with key contractors
with a view to a rapid commencement of field activities at the
Metals One operated Black Schist Project, targeting resource growth
on this Finnish asset which sits adjacent to Europe's largest
nickel mine - Talvivaara. We look forward to updating investors on
the work programme in due course."
Enquiries:
Metals One Plc
Jonathan Owen, Chief Executive Officer via Vigo Consulting
+44 (0)20 7390 0234
Beaumont Cornish Limited (Nominated
Adviser)
James Biddle / Roland Cornish
www.beaumontcornish.com +44 (0)20 7628 3396
Shard Capital Partners LLP (Joint
Broker)
Damon Heath / Erik Woolgar +44 (0)20 7186 9952
SI Capital Limited (Joint Broker) +44 (0)14 83413 500
Nick Emerson
Vigo Consulting (Investor Relations)
Ben Simons / Kendall Hill
metalsone@vigoconsulting.com +44 (0)20 7390 0234
About Metals One
Metals One is developing brownfield battery metals projects in
Finland (Black Schist Project) and Norway (SRH Råna Project), with
approximately GBP9 million of exploration carry exposure through
farm-in agreements. Metals One is aiming to help meet the
significant demand for battery metals by defining resources on the
doorstep of Europe's major electric vehicle OEMs and battery
manufacturers. Metals One's Black Schist Project in Finland,
totalling 706 km(2) across three licence areas, has an Inferred
Resource of 28.1 Mt nickel-zinc-cobalt-copper and is located
adjacent to Talvivaara, Europe's largest operating nickel mine.
Metals One's fully carried SRH Råna Project in Norway covers 18.14
km(2) across three contiguous exploration licences, with
significant opportunity for brownfield exploration of the Råna
intrusion, and proven potential for massive sulphide
nickel-cobalt-copper mineralisation.
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November 16, 2023 02:00 ET (07:00 GMT)
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