StockBox spoke to Jonathan Owen, CEO of Metals One PLC. He highlighted Metals One’s focus on advancing its Black Schist strategic minerals project in Finland.
The PEA, being conducted by Wardell Armstrong International, is key to determining the project’s forecast economics. It focuses on nickel, copper, cobalt, and zinc resources in Finland, with completion expected by early December 2024. The results will reveal important financial metrics like internal rate of return (IRR) and net present value (NPV).
The PEA is a foundational step in applying for EU Strategic Project status, which would potentially unlock non-dilutive funding, EU grants, and permit fast-tracking. Metals One aims to submit this application in Q1 2025, and obtaining this status is critical for further advancing the Black Schist project.
Metals One’s long-term target is to expand the current resource base from 60 million tons to 200 million tons. This would transform the project into a world-class Tier 1 asset, enabling further economies of scale and stronger project economics in future updates.
About Metals One
Metals One is developing strategic metals projects in Finland (Black Schist Project) and Norway (Råna Project), with approximately £9 million of exploration carry exposure through a farm-in agreement. Metals One is aiming to help meet the significant demand for strategic minerals by defining resources on the doorstep of Europe’s major electric vehicle OEMs and battery manufacturers. Metals One’s Black Schist Project in Finland, totalling 706 km2 across three licence areas, has a total Inferred Resource of 57.1 Mt nickel-copper-cobalt-zinc and is located adjacent to one of Europe’s largest strategic minerals producers, Terrafame. Metals One’s fully carried Råna Project in Norway covers 18.14 km² across three contiguous exploration licences, with significant opportunity for exploration of the Råna intrusion, and proven potential for massive sulphide nickel-cobalt-copper mineralisation.
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