Business
Placing, Joint Broker Appt, Issue of Equity & TVR
Metals One PLC has successfully raised £4.4 million through a placing of 220,000,000 new ordinary shares at £0.02 each, representing approximately 26% of the company's existing issued share capital, with proceeds earmarked for the Lions Bay Resources transaction and general working capital. The company also announced the appointment of Oak Securities as joint broker and expects the new shares to be admitted to trading on AIM around December 11, 2025, bringing the total issued share capital to 1,059,946,460 ordinary shares. The LBR transaction involves refurbishing a South African cogeneration plant, which is expected to require approximately US$4.5 million to restart production, with a Competent Person's Report anticipated by mid-December. Disclaimer*
About this update from Metals One Plc
[{"type":"text","content":"\n\n\n\n4 December 2025\n \nMetals One Plc\n(\"Metals One\" or the \"Company\")\n \nPlacement to Institutional and Sophisticated Investors, Appointment of Joint Broker,\nIssue of Equity & TVR\n \nMetals One (AIM: MET1, OTCQB: MTOPF), a critical and precious metals exploration and development company, is pleased to announce it has successfully raised gross proceeds of £4.4 million (before expenses) through a placing of new ordinary shares with institutional and sophisticated investors (the \"Placing\").\n \nThe Placing comprises the issue of 220,000,000 new ordinary shares of £0.01 each (\"Placing Shares\") at a price of £0.02 per share. The closing mid-market price on 3 December 2025 was £0.034. The Placing Shares represent approximately 26% of the Company's existing issued share capital. Due to demand the Placing was upsized to utilise the Company's total headroom capacity.\n \nUse of Proceeds\n \nThe Placing proceeds will be applied primarily to the Lions Bay Resources (\"LBR\") transaction as announced by the Company on 27 November 2025 and general working capital. The Company is in the process of agreeing loan funding with LBR to be applied by LBR towards refurbishing a cogeneration plant (the \"Plant\") located in South Africa. The Company understands LBR is also in the process of identifying potential mining assets located in South Africa that may suit the intended gold roasting configuration at the Plant. Further announcements will be made by the Company in respect of the LBR transaction in due course. \n \nSubject to receipt of a Competent Person's Report and the configuration to be adopted, it is expected that the Plant will require approximately US$4.5 million to restart production of steam and power. LBR expects to receive the final Competent Person's Report for the Plant by mid-December.\n \nAppointment of Joint Broker\n \nOak Securities is acting as agent for and on behalf of the Company in connection with the Placing and has been appointed as joint broker to the Company with immediate effect. \n \nTotal Voting Rights\n \nApplication will be made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM (the \"Admission\"). Admission is expected to occur at 8.00 a.m. on or around 11 December 2025.\n \nFoll...