Metals One PLC (AIM:MET1) said exploration drilling is well underway at its Kingrose battery metal prospect in Norway while plans are being drawn up for a phase one programme in Finland as it released its latest half-year results.
The junior’s aim is to find battery-related minerals, especially nickel, in Europe, close to future customers.
Alastair Clayton, chairman said: "The six-month period ended 30 June 2023 was incredibly busy for the company as it worked towards completion of its IPO and concurrent acquisitions of European brownfield battery metals projects which occurred after the reporting period.
“Metals One has listed with interests in nickel projects with substantial exploration carry exposure through farm-ins at a critical time for battery metals driven by the continued rise in electric vehicle adoption globally.”
Losses in the six months to the end of June 2023 were £119,000 (£154,000) while cash at the period end of £15,000 has since been boosted by a £2.2 million fund raise when it listed on AIM.