Metals One PLC (AIM:MET1, FRA:HT7, OTCQB:MTOPF) shares jumped 46% to 1.74p after the AIM-listed critical metals developer expanded its agreement with DISA Technologies to evaluate and potentially treat abandoned uranium mine waste dumps at its Uravan Belt project in Colorado.
The deal covers eight separate waste dumps across the 490-hectare site near the historic Buckhorn Mine.
DISA will deploy its patented high-pressure slurry ablation (HPSA) technology, a modular mobile process that extracts uranium and other critical minerals from surface waste while removing around 90% of uranium and radium-226 content.
The agreement requires no capital or operating expenditure from Metals One, with DISA acting as operator and covering all costs of permitting, evaluation, treatment, and remediation.
In return, Metals One will receive a gross revenue share on saleable concentrates on a sliding scale from 2.5% to 4.0% depending on metals pricing.
The arrangement expands on an existing relationship covering Metals One's 75%-owned Radium Mountain and Wedding Bell claims, also in Colorado.
The Uravan project sits within the Uravan Mineral Belt, a district that produced more than 60 million pounds of uranium and 330 million pounds of vanadium during the 20th century.
Rock chip assays announced in September 2025 returned grades of up to 4.17% uranium from historic waste material.
DISA became the first company to receive a service provider's licence from the US Nuclear Regulatory Commission in September 2025, and the agreement aligns with a recent US Department of the Interior order aimed at unlocking critical minerals from legacy mine waste.
Managing director Daniel Maling said DISA had made strong early progress on the Radium Mountain and Wedding Bell claims, with gamma walkover data expected by the end of this month.