REG - Metals One PLC - Update re Gunsynd Farm-In to Black Schist Project

Metals OneAnnouncement

02/11/2023 07:16

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231102:nRSB1168Sa&default-theme=true

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 £250,000 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 £1,000,000.

 

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)               +44 (0)20 7628 3396

 James Biddle / Roland Cornish

 www.beaumontcornish.com (http://www.beaumontcornish.com)

 Shard Capital Partners LLP (Joint Broker)                  +44 (0)20 7186 9952

 Damon Heath / Erik Woolgar

 SI Capital Limited (Joint Broker)                          +44 (0)14 83413 500
 Nick Emerson

 Vigo Consulting (Investor Relations)                       +44 (0)20 7390 0234

 Ben Simons / Kendall Hill

 metalsone@vigoconsulting.com

 

About Metals One

 

Metals One is developing brownfield battery metals projects in Finland (Black
Schist Project) and Norway (SRH Råna Project), with approximately £9 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 km² 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.

 

Follow us on social media:

 

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

Twitter: https://twitter.com/metals_one (https://twitter.com/metals_one)

 

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

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  UPDFSEEFFEDSEIF