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A buying wave hitting the L2 right now .. it looks like that drop was totally orchestrated just to help cover some short positions!

Overdone and it should see some rebound during or after the CEO & FCO's webcast

“It has been one of the busiest of all of London's junior miners this year, cutting deals in the US, and initiating exploration. The portfolio now comprises a significant suite of uranium assets, as well as gold and the Scandinavian nickel and base metals assets. Joining us for an update, Metals One's Dan Maling and Craig Moulton talk strategy, uranium and gold and how the company is financed”

https://youtu.be/js1I-3ZyipQ?si=l5D4-h4A-Bkaxd7Y

Another big block of shares has been cleared — that’s one less thing weighing on the price !

12:56:04 5.00 5,000,000 £250.00k

Hi Laura, you're absolutely right — I'm feeling really optimistic about the share price recovery from here. There are plenty of updates expected soon that could help accelerate the rebound. The most recent one, where the company increased its stake in the NovaCore uranium project from 10% to 30%, really stands out. Especially considering NovaCore accepted shares at 16.487p — over three times the current price — it shows strong confidence in the company’s future.

Momentum is definitely building and it feels like something big is just around the corner!

Now that this big block is out of the way, the share price should start moving:

Time Trade Price Volume Value

12:35:54 5.00 10,000,000 £500.00k

An imminent upward reversal on the tech chart!

For those wondering why Metals One shares have taken such a sharp hit recently, the likely reason is simple: the warrant holders are racing to cash in their warrants before they expire on 31 July 2025.

This includes both Cash Warrants and Prepaid Warrants that were issued as part of the company's fundraising earlier this year. The relevant detail is buried in the RNS from 31 January 2025, which clearly states:

“The Warrants are exercisable at 2 pence per share for a period of six months from the date of issue.”

https://www.lse.co.uk/rns/MET1/convertible-loan-proposed-equity-fundraise-pt7nv3z90t5brat.html

That 6-month window ends tomorrow the 31 July. After that, no more warrants can be exercised and warrant holders know it. So we're likely seeing forced selling as they convert and dump shares into the market while they still can.

With that many shares hitting the market, and more likely on the way before month-end, the price pressure makes sense. But importantly, this is temporary. Once the warrants expire on the 31st, that dilutive overhang disappears — and we could start to see the share price stabilise or rebound.

Just something to keep in mind before panicking or selling into the fear.

Sorry Dustyslay, I stick to the facts — today's RNS clearly states there are no warrants remaining. If someone can share an RNS that says otherwise, I’ll take their word for it

Where does it say that longtimeinvestor? Could you please share the link to that RNS?

Laura2022, so there are no more 2p warrants to exercise after today ?

So there are no more warrants to exercise after today's RNS?

"Warrant Exercise

The Company announces it has received notice of the exercise of Cash Warrants, issued pursuant to the Equity Fundraise announced on 31 January 2025, over a total of 31,600,000 Shares at 2 pence per Share ("Cash Warrant Shares"). Metals One has also received notice of the exercise of Prepaid Warrants, issued pursuant to the Equity Fundraise announced on 31 January 2025, over a total of 50,000 Shares ("Prepaid Warrant Shares").

>>>>>There are now no further Prepaid Warrants outstanding.

It looks like its the case Laura , plus the chart seems to support that theory (triple combo support lines): https://x.com/MajestictraderA/status/1949769767390253523

Someone just dumped £1m worth of shares !

13:09:39 6.167 22,000,000 1m

I think there’s a lot of potential here, but to be realistic, Ceres has a market cap of just £281.02m even after today’s 45% jump while ITM is sitting at £414.41m so Ceres already looks undervalued. I’d expect a small bump in ITM’s share price today or to see a 10% if we are lucky since it’s more of a sector-wide move, like Spacerat mentioned but expecting the same kind of spike just because of Ceres’ news feels a bit naive, to be honest.

I am really surprised it is not at least 5% up already !

So according to the update, MBC new contract’s annual revenue is nearly equal to 1 month of the company’s running cost ?

So TWICE as many shares as the company currently has? Seriously?!

Do we know how many warrants are still outstanding and yet to be exercised???

OK it looks like both Wizz and EZJ have been mirroring the FTSE's trend today for some reason.