12th Oct 2026 16:00
12 October 2026
Metals One Plc
("Metals One" or the "Company")
Update re Barbrook Business Rescue Plan
Further to the Company's announcement on 7 September 2026, Metals One (AIM: MET1, OTCQB: MTOPF), a critical and precious metals project developer and investor with a focus on gold and uranium, provides the following update on the Lions Bay Resources ("Lions Bay") (Metals One: 30% with an option to acquire a further 19.99%) approved business rescue plan as announced by the Company on 16 April 2026 (the "Plan").
The application to have the Lions Bay Plan set aside was held in the High Court of South Africa, Gauteng Division, Johannesburg on 12 October 2026. The judge has considered all arguments and reserved judgment. A further announcement will be made in due course upon the receipt of the judgment.
Daniel Maling, Managing Director of Metals One, commented:
"We welcome the Court's careful consideration of the arguments on the Lions Bay Plan. Lions Bay remains confident in its legal position having now substantially implemented the Plan for the benefit of the community and past and future mine workers with a view to re-establishing full mining operations later this year. We will update the market as soon as judgment is handed down."
Enquiries:
Metals One Plc Daniel Maling, Managing Director Craig Moulton, Chairman
| +44 (0)20 7981 2576
|
Spark Advisory Partners (Nominated Adviser) James Keeshan / Andrew Emmott | +44 (0)20 3368 3550 |
Bowsprit Partners Limited (Strategic Adviser) Luis Brime / John Treacy / James Sheehan | +44 (0)20 3883 4430 |
CREST Corporate Broking (Broker) Jerry Keen | +44 (0)20 3973 3678 |
Vigo Consulting (Investor Relations) Ben Simons / Fiona Hetherington / George Pope | [email protected] +44 (0)20 7390 0230
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Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014, as amended, which, by virtue of the European Union (Withdrawal) Act 2018, forms part of UK law. On the publication of this announcement via an RIS this inside information is now considered to be in the public domain.
About Metals One
Metals One is a critical and precious metals project developer and investor with a focus on gold and uranium. Our core interests include a South African gold and energy platform, a brownfield gold/copper exploration project in Northern Peru, uranium exploration and tailings reprocessing opportunities in the USA, a gold exploration project in the USA, and AI metals exploration in Tanzania.
Metals One's shares are listed on the London Stock Exchange's AIM Market (MET1) and on the OTCQB Venture Market in the United States (MTOPF).
Map of Metals One core projects/investments
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