REG - Atlas Metals Group - Updated Competent Persons Report published

Atlas MetalsAnnouncement

28/11/2025 07:00

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RNS Number : 3563J  Atlas Metals Group PLC  28 November 2025

THIS ANNOUNCEMENT ("ANNOUNCEMENT") AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA, ITS
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REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION,
RELEASE OR DISTRIBUTION WOULD BE PROHIBITED BY ANY APPLICABLE LAW.

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET
ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON THE
PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK
MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

28 November 2025

 

Atlas Metals Group plc

("Atlas Metals" or the "Company")

 

Updated Competent Persons Report published

 

Atlas Metals (LON: AMG), the natural resources and energy company, is pleased
to to announce, further to the Company's announcements on 17 June 2025 and 10
September 2025, regarding the Company's proposed acquisition of Universal
Pozzolanic Silica Alumina Ltd ("UPSA") (the "Proposed Acquisition") that an
updated Competent Person's Report ("CPR") has been published.

 

UPSA has the commercialisation rights to a substantial pozzolanic silica
alumina sand resource ("PSA") located in the Yammacoona Sand Quarry (also
known as the Warialda Quarry) in New South Wales, Australia, both as extracted
and as off-take, for a period of 99 years from June 2023, having acquired
those rights from Claystone International Pty Ltd ("Claystone International"),
an Australian proprietary company owned by Mr William Clift.  UPSA intends to
market that resource worldwide.

 

SLR Consulting Australia Pty Ltd ("SLR") has prepared an updated CPR for the
Company on the Yammacoona Sand Quarry, originally published on 10 September
2025, which may be accessed here:
http://www.rns-pdf.londonstockexchange.com/rns/3563J_1-2025-11-27.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/3563J_1-2025-11-27.pdf)  and
will also be available on the Company's website.  SLR are in the process of
undertaking core drilling and analysis at the Yammacoona Sand Quarry in order
to further update the CPR and with a view to upgrading the resource from the
current Inferred category.

 

Highlights from the updated CPR

 

·      The CPR now includes the extraction rights for 'Lot 5', which
were obtained by UPSA on 24 November 2025 and the CPR covers Lots 5 to 8 at
the Yammacoona Sand Quarry.

·      Documentation from the study area was provided to prepare a
desktop model to estimate volumes of Soil, Sand, and Pozzolanic Sandstone.
Assessment and modelling estimates that there is an increase (from the
previous CPR) of Inferred Resource totalling 208.09 million tonnes, comprising
of 41.72 million tonnes of sand and 166.37 million tonnes of pozzolanic
sandstone.

·      A financial model has been developed to assess the financial
viability of the quarry and its operation.  A Net Present Value ("NPV") at a
15 per cent discount rate of A$3.312 billion (approximately £1.63 billion)
was calculated using the discount cash flow method over a 25 year period
including terminal value at year 25. The full assumptions used in the
calculation of the NPV are contained in the CPR and the full CPR should be
read in relation to the valuation.

 

It should be noted that references in the updated CPR to the "Prospectus"
refer to the prospectus that will be produced in due course in relation to the
Proposed Acquisition and admission of the enlarged group to listing on the
'equity shares (commercial companies)' segment of the FCA's Official List and
to trading on the main market for listed securities of London Stock Exchange
plc.

 

Chris Chadwick, Chief Executive Officer of Atlas Metals, commented:

 

"We are making good progress with the proposed acquisition of UPSA.  The
updated CPR demonstrates even more potential within the PSA resource at
Warialda.  In addition, UPSA already have work underway that is targeted on
uplifting resources from the inferred category.

 

"As I have previously stated, UPSA provides an opportunity to access a
world-class PSA reserve at an attractive valuation. Given the positive
environmental impact UPSA provides the international construction industry,
the UPSA resources are attracting growing interest from major cement and
concrete players and will be targeted for use in private and government
infrastructure development projects globally.

 

"We look forward to completing the transaction as soon as possible and further
updates will be provided as we progress."

 

Christian Schaffalitzky, FIMMM, PGeo, CEng, a director of the Company, has
reviewed this announcement and agrees that the inclusion of the exploration
information and resource estimates in the form and context in which they
appear is accurate and not misleading.  He is a Competent Person for these
purposes.

 

For the purposes of UK MAR, the person responsible for arranging release of
this announcement on behalf of Atlas Metals is Christopher Chadwick, Chief
Executive Officer.

 

For further information, please contact:

 Atlas Metals Group plc:
 Christopher Chadwick             +44 (0) 207 796 9060
 Strand Hanson - Financial Adviser and Sponsor:
 Rory Murphy         +44 (0) 20 7409 1761
 Abigail Wennington  +44 (0) 20 7409 1761
 Edward Foulkes      +44 (0) 20 7409 1761
 AlbR Capital Limited - Joint Broker:
 Lucy Williams       + 44 (0) 207 469 0930
 Duncan Vasey        + 44 (0) 207 469 0930
 S I Capital Limited - Joint Broker:
 Nick Emerson        +44 (0) 1483 413500
 IFC Advisory Limited - Financial PR and IR:
 Tim Metcalfe        +44 (0) 203 934 6630
 Florence Staton     +44 (0) 203 934 6630

 

UPSA's Product

 

The use of pozzolanic volcanic ash as a super-binding additive in
concrete-mixing process has been known for over two millennia, as evidenced by
countless Roman structures that still stand today.

 

In a world increasingly committed to reduction of carbon emissions, the
construction industry is actively seeking solutions to make the built
environment more sustainable. 'Greening concrete' and the decarbonisation of
concrete has emerged as a major goal.

 

Concrete manufacturing is estimated to contribute up to 8% of global annual
CO₂ emissions. UPSA's PSA resource can replace approximately 40% of the
cement in concrete production leading to significant carbon emissions savings.
This enables governments and developers to construct strong, durable
structures, deploying PSA, designed to last for centuries rather than decades,
with the additional benefit of carbon credits once accredited and verified by
a designated agency. UPSA will market its PSA resource to clients for
sustainably constructing, designing, building, and operating projects to
minimise environmental impacts while maximising long-term structural benefits.

 

Important Notice

 

Neither the content of the Company's website nor any website accessible by
hyperlinks on the Company's website is incorporated in, or forms part of, this
announcement.

 

This announcement contains statements that are, or may be deemed to be,
"forward-looking statements". These forward-looking statements can be
identified by the use of words such as "will", "expect", "could", "believe",
"intend", "should" and words of similar meaning. All statements other than
statements of historical facts included in this announcement, including those
regarding the Company's strategy, plans and objectives and the anticipated
Transaction are forward-looking statements. These statements are not fact and
readers are cautioned not to place undue reliance on such statements.
Forward-looking statements involve a number of known and unknown risks,
uncertainties and other factors, many of which are difficult to predict and
generally beyond the control of the Company and so may not occur. These
forward-looking statements speak only as of the date of this announcement.
Atlas Metals expressly disclaims any obligation or undertaking to update or
revise any forward-looking statement (except to the extent legally required).

 

Strand Hanson Limited ("Strand Hanson"), which is authorised and regulated in
the United Kingdom by the FCA, is acting exclusively for the Company  as
Sponsor and no one else in connection with the Transaction and it will not
regard any other person as a client in relation to the Transaction and will
not be responsible to anyone other than the Company  for providing the
protections afforded to its clients or for providing advice in relation to the
Transaction or any other transaction, matter, or arrangement referred to in
this announcement.

 

This announcement has been issued by, and is the sole responsibility of, the
Company. No representation or warranty, express or implied, is or will be made
as to, or in relation to, and no responsibility or liability is or will be
accepted by Strand Hanson or by any of its affiliates, partners, directors,
officers, employees, advisers or agents as to or in relation to, the accuracy
or completeness of this announcement or any other written or oral information
made available to or publicly available to any interested party or its
advisers, and any liability therefore is expressly disclaimed.

 

 

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