Placing, Joint Broker Appt, Issue of Equity & TVR
04/12/2025 07:00
RNS Number : 2457K
Metals One PLC
04 December 2025
4 December 2025
Metals One Plc
("Metals One" or the "Company")
Placement to Institutional and Sophisticated Investors, Appointment of Joint Broker,
Issue of Equity & TVR
Metals One (AIM: MET1, OTCQB: MTOPF), a critical and precious metals exploration and development company, is pleased to announce it has successfully raised gross proceeds of £4.4 million (before expenses) through a placing of new ordinary shares with institutional and sophisticated investors (the "Placing").
The Placing comprises the issue of 220,000,000 new ordinary shares of £0.01 each ("Placing Shares") at a price of £0.02 per share. The closing mid-market price on 3 December 2025 was £0.034. The Placing Shares represent approximately 26% of the Company's existing issued share capital. Due to demand the Placing was upsized to utilise the Company's total headroom capacity.
Use of Proceeds
The Placing proceeds will be applied primarily to the Lions Bay Resources ("LBR") transaction as announced by the Company on 27 November 2025 and general working capital. The Company is in the process of agreeing loan funding with LBR to be applied by LBR towards refurbishing a cogeneration plant (the "Plant") located in South Africa. The Company understands LBR is also in the process of identifying potential mining assets located in South Africa that may suit the intended gold roasting configuration at the Plant. Further announcements will be made by the Company in respect of the LBR transaction in due course.
Subject to receipt of a Competent Person's Report and the configuration to be adopted, it is expected that the Plant will require approximately US$4.5 million to restart production of steam and power. LBR expects to receive the final Competent Person's Report for the Plant by mid-December.
Appointment of Joint Broker
Oak Securities is acting as agent for and on behalf of the Company in connection with the Placing and has been appointed as joint broker to the Company with immediate effect.
Total Voting Rights
Application will be made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM (the "Admission"). Admission is expected to occur at 8.00 a.m. on or around 11 December 2025.
Following Admission, the Company's total issued share capital will consist of 1,059,946,460 ordinary shares with voting rights attached. The Company does not hold any ordinary shares in treasury. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
Daniel Maling, Managing Director of Metals One, commented:
"It's pleasing to see institutional investment support for our Lions Bay Resources gold development strategy in South Africa. Having additional capital ring-fenced to facilitate the buy and build plan will be key during upcoming negotiations and will very well position the Company.
We have a busy period ahead of us and I look forward to providing further updates on our progress in the weeks ahead."
Enquiries:
| Metals One Plc Daniel Maling, Managing Director Craig Moulton, Chairman | info@metals-one.com +44 (0)20 7981 2576 |
| Beaumont Cornish Limited (Nominated Adviser) James Biddle / Roland Cornish | +44 (0)20 7628 3396 |
| Oak Securities Jerry Keen / Calvin Man | +44 (0)20 3973 3678 |
| Capital Plus Partners Limited (Joint Broker) Jonathan Critchley | +44 (0)207 432 0501 |
| Vigo Consulting (Investor Relations) Ben Simons / Fiona Hetherington / Anna Stacey | IR.MetalsOne@vigoconsulting.com +44 (0)20 7390 0230 |