Metals One and Lions Bay Resources confirm Barbrook Mine acquisition has failed

Metals One PLC, with Lions Bay Resources, confirmed the proposed acquisition of the Barbrook Mine has failed after the companies could not secure the US$37 million in funding needed to complete the deal and reopen the mine. The Department of Mineral Resources and Energy determined section 11 consent could not be obtained due to the interdependence of the Barbrook and Lily Mine assets.

Detected & updated continuously · Source: Nebula