IN BRIEF: Metals One doubles resource estimate at Black Schist

Metals One PLC - developer of strategic metals projects in Finland and Norway - Announces the ...

Alliance News 16 July, 2024 | 3:14PM
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Metals One PLC - developer of strategic metals projects in Finland and Norway - Announces the maiden JORC inferred mineral resource for the P5 area of the Black Schist project in Finland, of 29 million tonnes at 0.18% nickel, 0.08% copper, 0.01% cobalt, and 0.33% zinc. It brings the total resource for the Black Schist project to 57.1 million tonnes - which is more than twice the previous estimate.

"We're delighted to be doubling our Black Schist Project resource and particularly to have achieved this significant expansion through a low-cost, low-risk programme, and within only 12 months of listing the company," says Chief Executive Officer Jonathan Owen.

The increased resource base will underpin a preliminary economic assessment of the project which is expected in the near future, he adds.

Gunsynd PLC, an AIM-listed investor with a 6.25% stake in the project, notes the announcement. Metals One has an option to acquire Gunsynd's stake.

Current Metals One stock price: 0.97 pence, up 7.6% in London on Tuesday afternoon

12-month change: down 79%

Current Gunsynd stock price: 0.12p, up 5.2%

12-month change: down 57%

By Elizabeth Winter, Alliance News deputy news editor, Global services

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Metals One PLC 0.99 GBX 9.44 -
Gunsynd PLC 0.12 GBX 5.22 -

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