Metals One Plc has announced a ‘major’ strategic investment of C$750,000 in Lions Bay Capital Inc., expanding its global gold and copper exposure through Lions Bay’s portfolio of assets.
The AIM-listed minerals exploration company will acquire 7,500,000 common shares, giving it a 19.1% stake in the TSX-V listed Lions Bay.
Gold Processing Plant Revival
Lions Bay’s primary focus centres on bringing a South African gold processing plant back into production by Q4 2026. The company holds an option until November 2025 to acquire the cogeneration facility for US$1.4 million.
The plant represents exceptional value, having originally cost approximately US$20 million to commission before shutting down in 2021 after just 18 months of operation. It previously supplied steam and power to an adjacent chemical complex.
Once refurbished, the facility will process approximately 5,000 tonnes of gold-bearing concentrate per month. Metals One believe this provides an attractive alternative to exporting concentrate to Asian smelters, with roasting technology that exposes gold for conventional extraction.
“We believe the Lions Bay’s gold processing plant in South Africa offers exceptionally attractive economics,” said Craig Moulton, Chair of Metals One.
“The near-term cash flow opportunity complements our earlier stage critical metals exploration projects, balancing Metals One’s asset base. With a market capitalisation of under C$4 million and a portfolio of other projects, we regard this as a highly opportunistic investment.”
Through Lions Bay, Metals One gains exposure to a diversified portfolio of mining investments. Key holdings include a 45.22% stake in Fidelity Minerals, which owns copper-gold porphyry projects in Peru and Canada.
Other investments span Epic Minerals’ tin and copper-gold projects in Queensland, KALiNA Power’s low-carbon electricity generation, and Greensands Australia’s organic fertilizer technology.
Lions Bay also holds a debt loan related to the Bosveld gold mine, which operates a 60,000 tpa gold treatment plant as a toll processing facility.