7 September 2026
Metals One Plc
("Metals One" or the "Company")
Updates re Barbrook Business Rescue Plan
Update re court hearing in South Africa to set aside the Barbrook Business Rescue Practitioner
Metals One (AIM: MET1, OTCQB: MTOPF), a critical and precious metals project developer and investor with a focus on gold and uranium, provides the following update on the outcome of the 3 September 2026 court hearing regarding the application to remove the current Business Rescue Practitioner ("BRP") for the Barbrook Gold Mine in Mpumalanga Province, South Africa.
The application to have the BRP removed and another appointed was postponed until 7/8 January 2027, due to the intervention of two additional parties, being the Tribal Authority (the landowner) and Belvipoint (the security company) both of which oppose the removal and support the Lions Bay Resources ("Lions Bay") (Metals One: 30% with an option to acquire a further 19.99%) approved business rescue plan as announced by the Company on 16 April 2026 (the "Plan").
The application to have the Lions Bay Plan set aside will continue as scheduled, with the High Court hearing and arguments to be dealt with on 12 October 2026. Lions Bay remains confident in its legal position having now substantially implemented the Plan for the benefit of the community and past and future mine workers with a view to re-establishing full mining operations later this year.
Enquiries:
|
Metals One Plc Daniel Maling, Managing Director Craig Moulton, Chairman |
+44 (0)20 7981 2576 |
|
Spark Advisory Partners (Nominated Adviser) James Keeshan / Andrew Emmott |
+44 (0)20 3368 3550 |
|
Oak Securities (Joint Broker) Jerry Keen |
+44 (0)20 3973 3678 |
|
Capital Plus Partners Limited (Joint Broker) Jonathan Critchley |
+44 (0)207 432 0501 |
|
Vigo Consulting (UK Investor Relations) Ben Simons / Fiona Hetherington |
IR.MetalsOne@vigoconsulting.com +44 (0)20 7390 0230 |
Market Abuse Regulation (MAR) Disclosure
The information set out herein is provided in accordance with the requirements of Article 19(3) of the Market Abuse Regulations (EU) No. 596/2014 which forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR').
About Metals One
Metals One is a critical and precious metals project developer and investor with a focus on gold and uranium. Our core interests include a South African gold and energy platform, a brownfield gold/copper exploration project in Northern Peru, uranium exploration and tailings reprocessing opportunities in the USA, a gold exploration project in the USA, and graphite/copper exploration in Tanzania.
Metals One's shares are listed on the London Stock Exchange's AIM Market (MET1) and on the OTCQB Venture Market in the United States (MTOPF).
Map of Metals One core projects/investments
Follow us on social media:
LinkedIn: https://www.linkedin.com/company/metals-one-plc/
X: https://x.com/metals_one_PLC
Subscribe to our news alert service on the Investors page of our website at: https://metals-one.com