28th Nov 2025 14:29
(Alliance News) - Atlas Metals Group PLC on Friday said it updated the competent person's report in relation to its proposed acquisition of Universal Pozzolanic Silica Alumina Ltd, demonstrating "more potential" at the quarry it has commercial rights to.
Shares in Atlas Metals climbed 16% to 32.59 pence on Friday afternoon in London.
The natural resources and energy investor, formerly known as MetalNRG, said the CPR now includes additional extraction rights, an increase of inferred resource and a financial model to assess the financial viability of the quarry and its operation.
UPSA has the commercialisation rights to a pozzolanic silica alumina sand resource located in the Yammacoona Sand quarry, also known as the Warialda quarry, in New South Wales, Australia, Atlas Metals said.
The inferred resource now totals 208.1 million tonnes, comprising of 41.7 million tonnes of sand and 166.4 million tonnes of pozzolanic sandstone.
The net present value stands at a 15 per cent discount rate of AUD3.31 billion, or approximately GBP1.63 billion, the company said.
Chief Executive Chris Chadwick said: "We are making good progress with the proposed acquisition of UPSA. The updated CPR demonstrates even more potential within the PSA resource at Warialda. In addition, UPSA already have work underway that is targeted on uplifting resources from the inferred category.
"As I have previously stated, UPSA provides an opportunity to access a world-class PSA reserve at an attractive valuation. Given the positive environmental impact UPSA provides the international construction industry, the UPSA resources are attracting growing interest from major cement and concrete players and will be targeted for use in private and government infrastructure development projects globally.
By Roya Shahidi, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Atlas Metals