Metals One PLC (LSE:MET1) has reached a settlement agreement with 80 Mile PLC, ending the proposed acquisition of the Hammaslahti and Outokumpu projects in Finland. This strategic decision allows Metals One to avoid further equity dilution and capital commitments, enabling the company to concentrate its efforts on key exploration projects in the United States.
Metals One will maintain its stake in the Black Schist Project in Finland while advancing its uranium and gold exploration activities in the U.S. Additionally, the company has issued new shares as part of the acquisition of the Uravan Uranium-Vanadium Project in Colorado and completed warrant exercises, resulting in an updated share capital structure.
About Metals One PLC
Metals One PLC is a minerals exploration and development firm focused on a diverse portfolio of critical and precious metals projects located in stable jurisdictions, including the USA, Finland, and Norway. The company’s commodity interests span gold, uranium, vanadium, copper, nickel, cobalt, zinc, and platinum group metals. Its flagship asset is the Black Schist Project in Finland, which contains a substantial nickel-copper-cobalt-zinc JORC Inferred Resource.
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