• Zak Mir spoke to Metals One PLC (AIM:MET1) CEO Jonathan Owen

  • Jul 17 2024
  • Duración: 6 m
  • Podcast

Zak Mir spoke to Metals One PLC (AIM:MET1) CEO Jonathan Owen

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  • Zak Mir spoke to Metals One PLC CEO Jonathan Owen as the company which is advancing strategic minerals projects in Finland and Norway, announces a maiden JORC Inferred Mineral Resource for the P5 area of the Finland - Black Schist Project of 29 Mt1.

    This brings the total Black Schist Project resource to 57.1 Mt, more than double the previous estimate.

    Metals One doubles its Black Schist project’s resource estimate in Finland to 57.1 million tons, increasing its value to around $3 billion. The company is fast-tracking a Preliminary Economic Assessment, aiming to complete it by the year’s end, crucial for development metrics and EU project status.

    Metals One plans a phased expansion with multiple satellite pits, ensuring low-cost, high-volume mining inspired by successful nearby operations.

    The interview with Jonathan Owen, CEO of Metals One, conducted by Zak Mir. The discussion focuses on the company's recent progress and strategic plans.

    Key Points:

    1. MRE Upgrade and Doubling Resource: Metals One has announced a significant upgrade, doubling their mineral resource estimate (MRE) for the P5 area of the Finland Black Schist Project to 57.1 Mt.
    2. Funding and Strategic Decisions: The company cancelled a farm-in with Gend and directors participated in a subsequent fundraiser. This strategic decision was to ensure immediate cash availability for planned work programs rather than waiting for delayed cash flows.
    3. Project Development and Goals: Metals One aims to develop a primary economic assessment this year, supported by the new funding. They have a 93.75% stake in the Black Projects and can reclaim the remaining 6.25% from Gend at a predetermined price.
    4. Long-term Target: The company has set a longer-term target of 100 million tons and aims to classify their asset as world-class, aiming for a valuation of around 10 billion in situ value.
    5. Critical Mass and Strategic Status: The milestone of reaching 57 million tons allows them to start scoping studies and preliminary economic assessments, which are crucial for project metrics like NPV and IRR. This progress will help them seek EU project financing and grants under the Critical Raw Materials Act.
    6. Future Plans and Market Position: Despite a current market cap of 2.9 million, which doesn't reflect recent upgrades and potential EU support, Metals One is actively working on raising its profile. They plan to continue drilling to increase resources and move towards production, either independently or through partnerships.
    7. Environmental and Regulatory Preparations: The company is also initiating environmental baseline assessments and other critical path items to reduce project risks, aiming to enhance project attractiveness and feasibility.
    Conclusion:

    Metals One is advancing significantly in its mineral resource projects in Finland and Norway, with strategic funding and development plans aimed at achieving world-class asset status and securing critical EU support. The company is positioning itself for significant growth and market recognition in the near future.

    https://www.share-talk.com/zak-mir-spoke-to-metals-one-plc-aimmet1-ceo-jonathan-owen/
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