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The latest announcement is out from Metals One PLC ( (GB:MET1) ).
Metals One has highlighted a key development at investee company Lions Bay Resources PTY Ltd., which has made a C$46.5 million offer to acquire all the assets of South Africa’s Vantage Goldfields Group, a portfolio of Barberton-region mining leases with historical gold resources, processing infrastructure and underground development. Through its 19.1% stake in Lions Bay Capital and existing equity and convertible loan notes in Lions Bay Resources, Metals One could see its holding in Lions Bay Resources rise to at least 30% on a fully diluted basis if all loans convert, positioning the UK group to benefit from the proposed creation of a vertically integrated South African gold business and securing potential feed for Lions Bay’s planned gold roaster project, although the conditional nature of the offer means there is no certainty the transaction will proceed.
More about Metals One PLC
Metals One Plc is a London AIM- and US OTCQB-listed critical and precious metals exploration and development company, building a portfolio of projects and strategic investments aligned with the Western world’s demand for secure, responsibly sourced raw materials and benefiting from record gold prices.
Average Trading Volume: 12,012,180
Technical Sentiment Signal: Sell
Current Market Cap: £20.77M
See more data about MET1 stock on TipRanks’ Stock Analysis page.