Metals One PLC Update re Gunsynd Farm-In to Black Schist Project (1168S)
02 Novembre 2023 - 8:00AM
UK Regulatory
TIDMMET1
RNS Number : 1168S
Metals One PLC
02 November 2023
2 November 2023
Metals One Plc
("Metals One" or the "Company")
Update re Gunsynd Farm-In to Finland - Black Schist Project
Metals One (AIM: MET1), which is advancing battery metal
projects at brownfield sites in Finland and Norway, announces that
Gunsynd Plc ("Gunsynd") has confirmed its commitment to making the
first payment of GBP250,000 to FinnAust Mining Northern OY
("FinnAust"), a wholly owned subsidiary of Metals One, pursuant to
the subscription and shareholders agreement (the "Agreement")
between Metals One, FinnAust and Gunsynd, shortly.
The Agreement covers Gunsynd's commitment to subscribe for such
number of shares in FinnAust as is equal to 25% of the voting
rights of FinnAust, at an aggregate subscription price of
GBP1,000,000.
FinnAust 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.
A further announcement will be made upon receipt of funds.
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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website at: www.metals-one.com
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