Business
Half-year Report
Half-year Report.
About this update from Gunsynd Plc
[{"type":"text","content":"\n\nGunsynd plc\n \n(\"Gunsynd\", or the \"Company\")\n \nInterim Results for the six months ended 31 January 2025\nChairman's Statement\n \nI am pleased to report the interim results for the six months ended 31 January 2025.\n \nReview of Investments\n \nFalcon, Merlin and Greylark (Copper, Uranium Projects)\nFalcon, Merlin and Greylark (CU, U Projects) - Gunsynd holds 100% in each of the licences totalling a combined 9,307 hectares (\"ha\") in Nunavut, Canada.\n \nRock chip samples at Falcon averaged over 15% Cu and three of four samples at Merlin were over 1,000 ppm U. As stated in the Company's announcement of 21 November 2024, Future Fuels purchased the Mountain Lake deposit adjacent to Greylark from Iso Energy in November 2024 at a valuation multiples of that which Gunsynd paid for Falcon, Merlin and Greylark.\n \nBear Twit (Zinc, Lead, Copper Project)\nGunsynd holds 100% of the licence held over circa 17,000 ha in the North West Territories, Canada.\n \nIn December 2024 digitisation and interrogation of historic data revealed widespread, untested soil anomalism and further, high grade, drill-tested occurrences with outstanding zinc grades.\n \nBlack Schist Projects\n \nIn February 2025 Metals One Plc announced the outcome of a Preliminary Economic Assessment (\"PEA\") for the Finland - Black Schist Ni-Cu-Co-Zn Project.\n \nThe PEA was undertaken by Wardell Armstrong International, part of Wardell Armstrong LLP and showed that at current nickel prices the project was uneconomic using a discount factor of 8/10%.\n \nGunsynd has paid £250,000 with respect to the conditional farm in agreement with Metals One Plc and has received 6.25% of the enlarged share capital of Finnaust Mining Northern OY (\"Finnaust\") (which holds the Black Schist Projects).\n \n1911 Gold Corporation (\"1911 Gold\")\n \nGunsynd Plc invested approximately CAD$350,000 (c. £210,000) into 1911 Gold (TSXV: AUMB), a junior gold development and exploration company located in Manitoba, in the heart of the Rice Lake gold district within the West Uchi greenstone belt in Canada.\n \nFor each ordinary share subscribed for in 1911 Gold, the Company received a warrant over a new ordinary share with an exercise price of CAD$ 0.10 per share and exercisable for a period of 24 months from the da...