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Metals One PLC - metals exploration and development company - Stock rises after its acquisition of a strategic stake in Evolution Energy Minerals Ltd. Says it has acquired 37.9 million Evolution shares, an initial 10.45% holding, from Marvel Gold Ltd at 1.1 Australian cents each for A$416,900 or around £202,000 in total. Will also underwrite up to A$530,000 of Evolution’s current A$1.5 million rights issue at 1 cent per share. Says it will hold approximately 88 million shares in total, representing a stake of approximately 17.37%. Investment brings exposure to Evolution’s ‘development-ready’ Chilalo project in Tanzania, which has a post-definitive feasibility study net present value (at an 8% discount) of A$518 million with binding offtake deals covering over 90% of production. Deal also adds graphite, ‘a mineral of growing strategic importance’, to Metals One’s portfolio. ‘We believe Chilalo has multi-decade mine life potential with scope to expand resources through near-surface discoveries,’ comments Chief Executive Jonathan Owen. ‘I have direct experience of operating in Tanzania, which is one of the more stable African jurisdictions for investment and large-scale projects and indeed have been aware of Chilalo for some time. We are pleased to create exposure for our investors to this opportunity and look forward to value accretion as the project advances towards financing and construction.’ Current stock price: 4.15 pence, up 4.7% on Friday 12-month change: down 45% Copyright 2025 Alliance News Ltd. All Rights Reserved.
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