REG - Metals One PLC - Major Strategic Investment in Lions Bay Capital

Metals OneAnnouncement

Yesterday 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250829:nRSc1373Xa&default-theme=true

RNS Number : 1373X  Metals One PLC  29 August 2025

29 August 2025

 

Metals One Plc

("Metals One" or the "Company")

 

Major Strategic Investment in Lions Bay Capital

 

Expands Global Gold Exposure with Gold Processing Plant Opportunity

 

Metals One (AIM: MET1), a minerals exploration and development company with
key interests in uranium and gold projects, is pleased to announce it is
making an investment of C$750,000 in Lions Bay Capital Inc. ("Lions Bay")
(TSX-V: LBI), a Canada-listed mining finance and investment company focused on
unlocking the potential of resource assets with a strategic emphasis on gold
and copper. The investment is being made by way of a subscription for a total
of 7,500,000 common shares ("Units") resulting in Metals One owning 19.1% of
Lions Bay. The first tranche of 3,525,000 Units has settled, with the
remaining 3,975,000 Units in the second tranche expected to settle shortly,
upon TSX-V approval.

 

Lions Bay's primary objective, subject to funding, is bringing a South African
gold processing plant with supporting energy infrastructure into production by
Q4 2026, positioning it to generate near-term cash flow. Lions Bay has an
option until November 2025 to acquire the cogeneration plant for US$1.4
million. The plant was shut down in 2021 after less than 18 months of
operation. It cost circa US$20 million to commission and supplied steam and
power to an adjacent chemical complex where operations are suspended.

 

Lions Bay intends to refurbish and modify the plant, which is able to roast
approximately 5,000 tonnes of auriferous concentrate per month, providing an
alternative processing solution to exporting gold-bearing concentrate to Asian
smelters. Roasting involves combusting the ore concentrate in the presence of
oxygen, exposing the gold to conventional extraction. The power infrastructure
is designed to generate around 12 MW of continuous power.

 

A Competent Persons Report (CPR) was commissioned last week and is expected to
be completed in October 2025. Lions Bay expects to negotiate feed supply once
the CPR has been completed and has identified small, licensed gold mines that
would benefit from a South African processing solution.

 

Longer-term, Lions Bay intends to leverage its ownership of the modified plant
and the revenue to acquire gold mines in the Barberton region of South Africa
to feed the plant. This area hosts numerous deposits containing millions of
ounces of gold in pyrite. This refractory ore typically requires roasting to
liberate the gold in sulphides (pyrite) before it can be smelted.

 

Metals One is positioning itself to capture the upside of Lions Bay's
potential gold acquisitions and its existing portfolio of projects/investments
which also include:

 

Fidelity Minerals (TSXV:FMN) (Lions Bay: 45.22%) - a company which has
assembled a portfolio of high development potential copper-gold porphyry
projects in Peru and Canada.

 

Epic Minerals - (Lions Bay: 50%) - a company which has built a portfolio of
high-grade tin and copper-gold exploration projects in Queensland, Australia.

 

KALiNA Power (ASX:KPO) - (Lions Bay: 3.07%) a company dedicated to delivering
cost effective power projects that incorporate technologies that generate
constant baseload electricity with a low carbon footprint.

 

Bosveld Gold Debt Loan - Lions Bay Capital has a loan to GNT Mining which owns
the Bosveld gold mine in South Africa. The Bosveld gold mine has a 60,000 tpa
CIP gold treatment plant and is currently operating as a toll treatment
facility.

 

Greensands Australia (Lions Bay: 42%) - a company which has developed a
world-first technology to "activate" glauconite to develop organic fertiliser
under an International Patent Application.

 

Led by a team with a track record of value creation, Lions Bay is guided by
Executive Chairman John Byrne, the architect and former Executive Chairman of
Western Canadian Coal, which had an initial market capitalisation of C$50m
when he started, and was sold for over C$3 billion in 2010.

 

Note: All Units will be subject to statutory hold periods expiring 29 December
2025. In the year to 31 May 2024, Lions Bay reported a loss before tax of
C$2,990,000 on nil revenue and reported net assets of C$3,584,000.

 

Craig Moulton, Chair of Metals One, commented:

 

"We believe the Lions Bay's gold processing plant in South Africa offers
exceptionally attractive economics. The near-term cash flow opportunity
complements our earlier stage critical metals exploration projects, balancing
Metals One's asset base. With a market capitalisation of under C$4 million and
a portfolio of other projects, we regard this as a highly opportunistic
investment."

 

Enquiries:

 

 Metals One Plc                                           info@metals-one.com (mailto:info@metals-one.com)

 Jonathan Owen, Chief Executive Officer                   +44 (0)20 7981 2576

 Craig Moulton, Chairman
 Beaumont Cornish Limited (Nominated Adviser)             +44 (0)20 7628 3396

 James Biddle / Roland Cornish
 Capital Plus Partners Limited (Joint Broker)             +44 (0)207 432 0501

 Jonathan Critchley
 Vigo Consulting (UK Investor Relations)                  IR.MetalsOne@vigoconsulting.com +44 (0)20 7390 0230

 Ben Simons / Fiona Hetherington / Anna Stacey
 Fairfax Partners Inc (North America Investor Relations)  connect@fairfaxpartners.ca (mailto:connect@fairfaxpartners.ca)

                                                          +1 604 366 6277

 

About Metals One

 

Metals One is pursuing a strategic portfolio of critical and precious metals
projects in low-risk jurisdictions, underpinned by the Western World's urgent
need for reliably and responsibly sourced raw materials, and record high gold
prices.

 

Metals One's shares are listed on the London Stock Exchange's AIM Market
(MET1).

 

Schedule of projects/investments:

 

 Project/Company                 Commodities      Location      Ownership  Acquisition Status
 Black Schist Project            Ni, Zn, Cu, Co   Finland       93.75%     Completed - July 2023
 CleanTech Lithium (AIM: CTL)    Li               Chile         10.7%      Pending CTL shareholder approval 29 August 2025
 Fulcrum Metals (AIM: FMET)      Au               Canada        5.9%       Completed - July 2025
 Lillefjellklumpen Project       PGE, Au, Ni, Cu  Norway        100%       SPA executed, completion pending
 Lions Bay Capital (TSX-V: LBI)  Au, Cu           South Africa  19.1%      Completed 1(st) Tranche - August 2025
 Radium Mountain Project         U, V             USA           75%        Completed - August 2025
 Råna Project                    Ni, Cu, Co       Norway        39%        Completed - July 2020
 Red Basin Project               U                USA           35%        Completed - August 2025
 Squaw Creek Project             U                USA           100%       Completed - July 2025
 Swales Project                  Au               USA           100%       Completed - June 2025
 Uravan Belt Project             U, V             USA           100%       Completed - July 2025
 Vanadium King Project           U, V             USA           75%        Completed - August 2025
 Wedding Bell Project            U, V             USA           75%        Completed - August 2025

 

Follow us on social media:

 

LinkedIn: https://www.linkedin.com/company/metals-one-plc/
(https://www.linkedin.com/company/metals-one-plc/)

X: https://x.com/metals_one_PLC (https://x.com/metals_one_PLC)

 

Subscribe to our news alert service on the Investors page of our website at:
https://metals-one.com (https://metals-one.com/)

 

Market Abuse Regulation (MAR) Disclosure

 

The information set out below is provided in accordance with the requirements
of Article 19(3) of the Market Abuse Regulations (EU) No. 596/2014 which forms
part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018
('MAR').

 

Nominated Adviser

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDUWURRVBUWUUR