Business
Final Results for the Year Ended 31 December 2023
Final Results for the Year Ended 31 December 2023.
About this update from Metals One Plc
[{"type":"text","content":"\n\n\n \n28 June 2024\n \nMetals One Plc\n(\"Metals One\" or the \"Company\")\n \nFinal Results for the Year Ended 31 December 2023\n \nMetals One (AIM: MET1), which is advancing strategic metals projects in Finland and Norway, announces, announces its unaudited results for the twelve months ended 31 December 2023. The full annual report and accounts are available to view on the Company's website at www.metals-one.com and are being posted to shareholders today along with a Notice of Annual General Meeting (\"AGM\") convening the AGM for 11.00 a.m. on Monday, 22 July 2024 at Hill Dickinson LLP, 8th Floor, The Broadgate Tower, 20 Primrose Street, London, EC2A 2EW.\n \nHighlights\nFinland - Black Schist Project (nickel, copper, cobalt, zinc)\n \n· Completed a 1,548m diamond drill programme across eight holes at the R1 Hook target within the Rauta 9-11 permit at the Finland - Black Schist Project\no Designed to confirm the structure and potential for Terrafame-style Ni-Cu-Co-Zn mineralisation, initial visual and portable X‐ray Fluorescence (\"pXR\") assessments of the core indicated potential intersections of this style of black shale hosted mineralisation\no Identified significant intersections of mineralised black schists and demonstrated geological continuity with existing resource at R1 which could support future resource expansion\no Confirmed a synformal structure, indicating significant potential to the east and prompting the Company to extend the current permit area in that direction\n· Entered into an agreement in relation to the Black Schist Project, pursuant to which Gunsynd Plc (AIM: GUN) (\"Gunsynd\") agreed to acquire up to 25% of the project for a staged investment of up to £1 million\no Received first stage payment of £250,000 in November 2023, with Gunsynd accordingly issued with 6.25% of the voting share capital of Metals One Finland (a subsidiary of the Company which holds the Black Schist Project)\no Post-period end, Metals One announced an £895,000 Placing to advance the Black Schist Project independently and, simultaneously, its decision to terminate the Gunsynd farm-in, providing the Company with a three-year option to regain 100% ownership by re-acquiring the 6.25% currently held by Gunsynd for the s...