Metals One (AIM:MET1) Double Resource to 57.1 Mt & Plan PEA Immediately – Share Talk

StockBoxMedia spoke to Metals One PLC CEO Jonathan Owen where he announced a major milestone: their Black Schist project’s resource estimate in Finland has more than doubled, boosting its value to around $3 billion.

Metals One doubles its Black Schist project’s resource estimate in Finland to 57.1 million tons, increasing its value to around $3 billion. The company is fast-tracking a Preliminary Economic Assessment, aiming to complete it by the year’s end, crucial for development metrics and EU project status.

Metals One plans a phased expansion with multiple satellite pits, ensuring low-cost, high-volume mining inspired by successful nearby operations.

 

Jonathan Owen, CEO of Metals One, commented:

“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.

The Black Schist Project is key to us achieving our goal of bringing much needed domestic sources of strategic minerals, such as high-purity copper and nickel sulphates, to the European market. The addition of the P5 resource to the project portfolio brings the total value of in-situ metals to $3 billion² at today’s prices. Our Black Schist Project is on track to becoming the world-class asset we all believe it could be.

Looking ahead, this increased resource base will underpin a Preliminary Economic Assessment of the project which we expect to commence in the near future. This represents a major milestone for the Company as we transition to project development.”

About Metals One

Metals One is developing strategic metals projects in Finland (Black Schist Project) and Norway (Råna Project), with approximately £9 million of exploration carry exposure through a farm-in agreement. Metals One is aiming to help meet the significant demand for strategic minerals 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 km2 across three licence areas, has a total Inferred Resource of 57.1 Mt nickel-copper-cobalt-zinc and is located adjacent to one of Europe’s largest strategic minerals producers, Terrafame. Metals One’s fully carried Råna Project in Norway covers 18.14 km² across three contiguous exploration licences, with significant opportunity for exploration of the Råna Intrusion, and proven potential for massive sulphide nickel-cobalt-copper mineralisation

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