공시 • Jan 31
Metals One plc Announces Results of Pea for Finland - Black Schist Ni-Cu-Co-Zn Project Application for Strategic Project Status Under European Critical Raw Materials Act
Metals One announced the outcome of a Preliminary Economic Assessment ("PEA") for the Finland - Black Schist Ni-Cu-Co-Zn Project (the "Project"). The PEA was undertaken by Wardell Armstrong International ("WAI"), part of Wardell Armstrong LLP, a long-established, independent British engineering and environmental consultancy, and provides the Company with an initial assessment of which deposits may warrant focus as it looks to develop its various Black Schist projects. The PEA demonstrates that although it was undertaken at a time of weak nickel prices and inflated input costs, the Project is highly leveraged to rising commodity prices. Considering demand for battery-grade nickel is forecast to triple by 2030 and that producing the metal domestically within the EU becomes an ever more critical goal, the company are clearly sitting on valuable assets with compelling leverage to a rising nickel price. For now, however, capital availability for nickel projects remains tough. The company next move is to apply to the European Commission for designation of the Project as "Strategic", as defined by the European Critical Raw Materials Act, within the first quarter of 2025, before assessing the future work programme. The Project includes the Rautavaara ("R1") and Paltamo ("P5") deposits which are located in the Northern Savonia (Rautavaara) and Kainuu (Paltamo) regions of eastern Finland. The regional mining and processing centre at Sotkamo lies between the two project areas approximately 90km north of Rautavaara and 50km south of Paltamo. It is characterised by sulphidic Ni-Zn-Cu-Co deposits hosted by highly sulphidic-graphitic muds and turbiditic wackes, which have undergone high-grade metamorphism. Two main targets exist within the Project, R1 at Rautavaara and P5 at Paltamo, both of which have been drill tested to reveal significant Talvivaara-style mineralisation. Minimal exploration has been completed outside of these two prospects, with little work completed across the Project in over a decade meaning much of the licence can be considered unexplored. The Project is situated adjacent to Europe's largest operating nickel mine, operated by Terrafame, and has an Inferred Mineral Resource of 57.1 Mt of Terrafame's type of mineralised material at a grade of 0.18% Ni (105.8kt), 0.09% Cu (51.9kt), 0.01% Co (6.9kt) and 0.35% Zn (276.0kt). The Company intends to apply to the European commission for designation of the Project as 'Strategic', as defined by the European Critical raw Materials Act, within the First quarter of 2025. Strategic Project Status provides several key advantages that can significantly aid in the Project's development and long-term success, including but not limited to: enhanced access to project financing, including eligibility for funding from EU programmes; streamlined permitting processes; reducing bureaucratic obstacles; and priority consideration in national and EU-level planning and support policies. Economic Analysis The economic analysis uses a Discounted Cash Flow approach on a post-tax, unleveraged, real-terms basis, to determine the NPV, Internal Rate of Return ("IRR") and payback period, amongst other key financial performance indicators. Geological evidence is sufficient to imply but not verify geological grade (or quality) continuity. It is based on exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. An inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resources and must not be converted to an Ore Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration km Kilometres kt Thousand tonnes. Massive sulphide ore deposit which consists almost entirely of sulphides Mt Million tonnes m Metres NPV Net Present Value Ni Nickel Paleoproterozoic Spans the time period from 2,500 to 1,600 million years ago (2.5-1.6 Ga), is the first of the three subdivisions (eras) of the Proterozoic Eon Schist A medium-grade metamorphic Eon Schist a medium-grade metamorphic eon Schist A medium- grade rock formed from mudstone rock formed from mudstone.