Metals One eyes Barbrook gold restart as it moves to take full control of South African assets
Proactive - Interviews for investorsShow Notes
Metals One PLC (AIM:MET1, FRA:HT7, OTCQB:MTOPF) managing director Daniel Maling joined Proactive's Stephen Gunnion to discuss the proposed Lions Bay Resources acquisition and the drive to bring South Africa’s Barbrook Gold Mine back into production within six months.
Maling explained why Metals One is moving from investor to owner-operator, taking greater control of its gold and power assets with the aim of generating future cash flow.
The proposed deal includes £6.5 million in share consideration, with up to US$15 million in additional funding under consideration to support the acquisition and mine restart.
A key part of the plan is Barbrook’s existing infrastructure. Metals One is assessing an upgrade to LBR’s 6-megawatt cogeneration plant, potentially doubling capacity and cutting power costs - a significant factor in the mine’s economics.
Maling also outlined the hurdles still to clear, including court proceedings, regulatory approvals and an updated technical report, as well as the proposed appointment of former Harmony Gold CEO Graham Briggs as chairman.
With completion targeted before Christmas, watch the full interview for the latest on the deal, funding plans and the milestones that could bring Barbrook back to life.
Watch the full interview for the latest on the proposed transaction, financing and Barbrook restart plans.
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