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%
Copyright 2024 Alliance News Ltd. All Rights Reserved.
