Business
Loan to Support Lions Bay Capital Opportunities
Metals One PLC has entered into a binding term sheet to provide a C$4.0 million loan to Lions Bay Capital Inc. at a 20% annual interest rate, repayable in 12 months. This loan, in addition to Metals One's prior C$750,000 equity investment and a US$1.8 million convertible loan note in Lions Bay's joint venture, aims to support Lions Bay's strategic investment opportunities, including a South African cogeneration plant and a Peruvian gold-copper project. The loan will be secured by Lions Bay's holdings in Fidelity Minerals Corp., LBR, and debt owed from GNT Mining. Metals One reported over £10 million in cash and liquid investments. Disclaimer*
About this update from Metals One Plc
[{"type":"text","content":"\n\n\n\n\n23 December 2025\n \nMetals One Plc\n(\"Metals One\" or the \"Company\")\n \nNew Loan to Support Lions Bay Capital Opportunities\n \nMetals One (AIM: MET1, OTCQB: MTOPF), a critical and precious metals exploration and development company, is pleased to announce it has signed a binding term sheet to lend an additional C$4.0 million to Lions Bay Capital Inc. (\"Lions Bay Capital\") (TSX-V: LBI) by way of promissory note (\"Loan\") bearing interest at a rate of 20% per annum. Metals One originally invested C$750,000 in equity in Lions Bay Capital on 29 August 2025 for a 19.1% shareholding. Since then, on 27 November 2025, Metals One announced an investment of up to US$1.8 million through a convertible loan note in Lions Bay Capital's South African joint venture, Lions Bay Resources (\"LBR\"), as further detailed below.\n \nLions Bay Capital is a Toronto-listed mining finance and investment company focused on unlocking the potential of resource assets with a strategic emphasis on gold. Led by a team with a track record of value creation, Lions Bay Capital is guided by Executive Chairman John Byrne, the architect and former Executive Chairman of Western Canadian Coal, which had an initial market capitalisation of C$50 million when he started, and was sold for over C$3 billion in 2010.\n \nThrough its leadership team, Lions Bay Capital has secured several exceptional near-term investment opportunities including, inter alia:\n \n· An option over a cogeneration plant in South Africa (through LBR) to produce power and steam while roasting refractory gold concentrates:\n· and the accelerated development of a large-scale brownfield gold-copper project in Peru (through its investee company Fidelity Minerals Corp. (TSX-V: FMN) in which Metals One also has a 12.47% shareholding).\n \nThe Metals One Loan is designed to enable Lions Bay Capital to advance these and other opportunities.\n \nKey Terms of the Loan\n \nThe Loan is to be advanced by Metals One to Lions Bay on the following terms:\n \n· C$4.0m to be advanced\n· Proceeds to be applied to investment and working capital purposes\n· 20% interest per annum, payable in arrears\n· Full repayment of principal an...