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Metals One targets first gold concentrate at Barbrook within six months after signing offtake deal.

Market News
23 Aug 2026
Proactive Investors
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Bullish
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Metals One PLC has finalized a phased mine plan for the Barbrook gold project in South Africa, aiming to produce its first gold concentrate within six months using existing processing infrastructure. The company holds a 30% stake in Lions Bay Resources, which operates the project, and has an option to increase this stake. A three-year offtake agreement covering 100% of Barbrook's gold concentrate has been signed, reducing sales risk for early production. The phased plan includes treating tailings and surface material initially, followed by underground mining recommissioning and further feasibility studies. Legal challenges remain but previous obstacles have been overcome. The project is moving from transaction phase to commercial operation, with regulatory and shareholder approvals pending.

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