Metals One Targets First Gold at Barbrook Within Six Months
Metals One, a mining company listed on the AIM market as MET1.L, is aiming to produce its first gold within six months of completing Phase 1 of the Barbrook Gold Project. Managing Director Daniel Maling discussed progress with Proactive's Stephen Gunnion, highlighting refined mining plans and opportunities from tailings and near-surface open-cast operations in years one and two. The company has funded payments to former employees and is advancing its Section 11 process for mine start-up financing, which Maling described as 'well advanced.' An offtake agreement covering all gold concentrates over three years with a reputable partner was also discussed. This partnership supports both initial operations and future underground development. Investors can expect more details in the upcoming Minxcon Competent Person's Report, which will outline detailed mining plans and project economics. Maling expressed optimism about potential for underground expansion across the broader Lions Bay Gold Project.
Topics: Gold Mining Project Offtake Agreement Restart of Operations