Business
Update re PEA for Finland - Black Schist Project
Update re PEA for Finland - Black Schist Project.
About this update from Metals One Plc
[{"type":"text","content":"\n\n\n \n8 August 2024\n \nMetals One Plc\n(\"Metals One\" or the \"Company\")\n \nUpdate re PEA for Finland - Black Schist Ni-Cu-Co-Zn Project\n \nMetals One (AIM: MET1), which is advancing strategic minerals projects in Finland and Norway, announces it has awarded the contract to undertake a formal Preliminary Economic Assessment (\"PEA\") for the Finland - Black Schist Ni-Cu-Co-Zn Project (\"Black Schist Project\") to Wardell Armstrong International (\"WAI\"), part of Wardell Armstrong LLP, a long-established, independent British engineering and environmental consultancy.\n \nWAI will commence work immediately and the PEA is expected to be completed by November 2024.\n \nThe primary aim of the PEA is to evaluate the economic viability of the Black Schist Project based on the \"R1\" (28.1Mt at 0.19% Ni, 0.10% Cu, 0.01% Co, and 0.38% Zn) and \"P5\" (29 Mt at 0.18% Ni, 0.08% Cu, 0.01% Co, and 0.33% Zn) resources, and to establish an economic concept.\n \nThe PEA will deliver an early level study that includes an economic analysis of the potential viability of mineral resources and the preliminary evaluation of the Black Schist Project. The results of the PEA are expected to identify:\n \n· Probable mining and processing schemes\n· Technical parameters requiring additional examination or test work\n· General features and parameters\n· Capital and operating cost estimates\n \nThe PEA report is expected to form the basis of the Company's application for Strategic Project status under the EU Critical Raw Materials Act and therefore the project will be classified according to the United Nations Framework Classification for Resources.\n \nJonathan Owen, Chief Executive Officer of Metals One, commented:\n \n\"Having delivered a doubling of the Black Schist Project resource earlier this year, we have now moved into the economic assessment phase as a precursor to project development. We are delighted to be working with Wardell Armstrong International to deliver this hugely important milestone on our roadmap to commercial production. Having considered a range of proposals, we determined that WAI was best suited to the mandate, in particular due to its relevant experience working on the Talvivaara project, operated...