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Gunsynd PLC - London-based investment company focused on the natural resources, life sciences & alcohol sector - Provides £1 million to battery metals mining investor Metals One PLC. Investment is for Metals One's Black Schist project close to the Talvivaara mine in Finland. Metals One's project is a nickel-zinc-copper-cobalt deposit.
Following the investment, Gunsynd gains 25% of voting rights in Finnaust Mining Northern Oy, which holds the Black Schist projects. Gunsynd also will receive warrants to subscribe for ordinary shares in Metals One valued at £75,000.
‘The projects are located in the Kainuu Schist Belt of eastern Finland and contain existing inferred resources of 28.1 million tonnes of nickel-zinc-copper-cobalt. The deposit is analogous to the nearby Talvivaara nickel-zinc-copper-cobalt deposit, one of the largest nickel mines in Europe, which has a supply agreement with Renault SA,’ explains Gunsynd.
While the projects have an 18-month exploration programme ahead, Gunsynd Chair Hamish Harris sees ‘market dynamics pointing to a continued upward trend in the prices of battery metals.’
Current stock price: 0.56 pence, unchanged on Tuesday
12-month change: down 64%
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