Member Info for Professor1

Mickey

Nicely summed up.

GLA

AI Overview

+7

The presence of quartz-carbonate veins with chalcopyrite and pyrite at different depths (60m vs. 570m) suggests a deep-seated, hydrothermal system potentially linked to mineralisation. The shallower occurrence could be the surface expression or alteration zone of a more significant, deeper deposit, with the differing depths indicating the system's vertical extent and a potential, unexposed mineral resource in the area.

What the Veins Tell Us

Vein Composition:

Quartz-carbonate veins are formed from mineral-rich fluids that have flowed through fractures in the Earth's crust, depositing these minerals as the fluid cools or reacts with the surrounding rock.

Sulphide Presence:

Chalcopyrite (a copper-iron-sulfide) and pyrite (an iron-sulfide) are common ore minerals that often form in these types of hydrothermal systems. Their presence indicates a potential for base or precious metal deposits.

Significance of Different Depths

Hydrothermal System:

The existence of similar vein systems at different depths points to a single, large-scale geological process that created these veins over time.

Potential for Deeper Resources:

The fact that the mineralisation is found at 570 meters in one town but the surface expression is at only 60 meters in the other suggests that the deeper discovery could be a more substantial or primary ore body, with the shallower occurrence being its altered or weathered top.

Exploration Target:

This geological information is significant because it means there is a potential for a significant mineral resource at depth in the area where the deeper mineralisation was found, making it a prime target for further exploration and mining activities.

AI Overview

The Telfer mine's first significant discovery of mineralisation, including quartz-carbonate veining and sulphides of chalcopyrite and pyrite, was announced in 1976, not 1977, and occurred from approximately 60 metres (200 feet) underground. The initial drill hole intersected this mineralisation, which was later confirmed to be a large mineralised body.

Details of the Discovery

Year:

The major discovery was announced in 1976, though exploratory drilling continued into 1977.

Depth:

The mineralisation was identified at a depth of around 60 metres (200 feet) below the surface.

Geological Context:

The mineralisation was found in the Hangingwall breccia and consisted of quartz-carbonate veins within the broader breccia unit, containing sulphides like chalcopyrite and pyrite.

Significance:

This discovery marked the beginning of the understanding of the large mineralised system that would become the Telfer Mine.

If this turns out to be a 5m oz + then it would tick off Newmont's list and they have the fire power

@British-Mike

Spot on. This is really very significant. Hopefully, the sweet spot is near and massive.

GLA

This might turn out to be as large as Telfer but would be amazing even if its half the size

This could turn out to be the Mother of all gold mines

Won't be surprised if Gervaise Heddle was also giving some tips , they all seem to know each other in the mining community

GLA

@TomHH

And possibly Newmont?

Need to tuck away another big chunk here

Apologies, meant to say in the next month or so

Bulk of the profit by warrant holders have already been made.

The rest of the profit will most likely be made when there is seriously positive news from the company and the share price shoots up to say 50p.

Why on earth would the warrant holders want to make £1m profit at this stage when they could possibly make 10x that after the catalyst happens in the next year or so?

Thanks all

"No Investor is permitted to exercise warrants to the extent that, as a result of such exercise, such Investor will own or control more than 2.99% of the issued ordinary shares of the Company."

Thanks

"The cash warrants are exercisable for a period of six months from the date of grant, and, IF EXERCISED, would bring in substantial additional proceeds to the company (See Appendix)"

THE SIX MONTHS WINDOW EXPIRES TOMORROW

Longtimeinvestor

However, the cash warrants have a expiry of 31st July 2025?

Sincere apologies @longtimeinvestor , I read incorrectly= I think you are also saying that the prepaid warrants have all been exercised which ties in with the summary I have prepared

@LONGTIMEINVESTOR

Based on the fact I detail below (all derived from the RNSs), you have been misleading the investors as regards the Prepaid Warrants which I can say have all been exercised and the resultant equity issued:

25/4/25 RNS = issued 3,400,000

1/5/25 RNS = issued 8,500,000

9/5/25 RNS = issued 4,800,000

16/5/25 RNS = issued 19,350,000

23/5/25 RNS = issued 23,450,000 PLUS

23/5/25 RNS = issued 63,000 broker issue

30/5/25 RNS = issued 3,000,000

6/6/25 RNS = issued 7,250,000

13/6/25 RNS = issued 12,000,000

20/6/25 RNS = issued 57,550,000

30/6/25 RNS = issued 37,200,000

14/7/25 RNS = issued 2,000,000

18/7/25 RNS = issued 34,250,000

25/7/25 RNS = issued 35,800,000

29/7/25 RNS = issued 50,000

TOTAL excluding broker = issued 248,600,000

Yet to check for missing = issued 1,400,000

TOTAL PREPAID ISSUED = 250,000,000

@Onetomany

This from last RNS

Our project portfolio* spans the USA, Finland and Norway.

Metals One's shares are listed on the London Stock Exchange's AIM Market (MET1).

*Includes projects for which acquisition terms have been agreed pending completion.

Issue Date as Grant Date:

The warrant is "granted" to the holder when it is first issued. This means the date the warrant is created and delivered to the holder is the date it is considered granted.