Metals One signed an 80 -million stock purchase agreement to acquire the entire Finnaust Mining Finand share capital, a special purpose vehicle (SPV).
SPV has several licenses, including the Hamaslachti copper-zinc project and the OCOCOCUM project in Finland, both are linked to historical copper mines.
Acquiring will expand the exposure to a copper of one’s copper in the level-1 jurisdiction.
80 miles will retain all rights of all industrial gases, including helium and hydrogen, project -related.
Metals one plans to use the Hamaslachti test later this year, after identifying significant mineralization of sulfide and promoting geophysical research into Outokumpu in preparation for exercise.
Metal chief executive ONE Athonian Owen said: “This is an exciting time for metals.
Board changes are expected after the transaction is completed. 80 miles will be entitled to appoint a director of the Metal Board, provided that there are at least 10% of the rights of voting.
The transaction is awaiting the consent of the owners of the net -trackers of the licenses and regulatory approval in Finland, which is not expected to be officially necessary at the moment.
The 80 -mile management director, Eric Sondergard, said: “This redirect marks a key 80 miles turning point, as we tighten the focus of new energy products, especially industrial gases.
“While copper funds in Finland have strong potential, our retained rights over industrial gases allow us to continue to participate in all the upside down by future discoveries in this development of the sector.”
The Hamaslachti project is known for its volcanogenic massive sulfide mineralization, with historical production giving significant amounts of copper, zinc, gold and silver.
Drilling for 80 miles revealed extensions to the ore body, with high massive sulfides identified.
The Outokumpu copper project is located along the Outokumpu copper belt, with an identified six -goal for exercise that could potentially host Higher Grade Copper deposits in the immediate vicinity of the former work mine.
In July 2021, Bluzjaj redirects its coats and Rautavara Nickel, zinc, copper and cobalt projects in Finland to metals one.
“Metals one to acquire mining in Finland 80 miles” was originally created and published by Mining technologybrand owned by Globaldata.
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