Metals One raises £4m in senior debt from Yorkville-linked fund to accelerate its gold exploration programme, avoiding equity dilution at current low share prices.
Metals One PLC secured a £4 million senior loan facility from YA II PN, a Yorkville Advisors fund, choosing debt over an equity raise at current share prices. The company says it holds about £7-8 million in listed investments, will use the funds to accelerate gold-focused exploration, and issued warrants at a 30% premium that could yield another £4 million. This debt-backed liquidity should support project development without immediate dilution.
Management said debt provides financial flexibility by leveraging the balance sheet instead of issuing equity at what it called depressed share prices.
The senior loan facility is provided by YA II PN, a fund managed by Yorkville Advisors Global, and includes warrants priced at a 30% premium that could raise another £4 million if exercised.
Metals One PLC borrowed £4 million from a Yorkville fund instead of issuing equity at depressed prices, using its balance sheet to support a gold-focused acquisition, exploration and development programme. The non-convertible loan comes with warrants priced 30% above the current share price, and the company holds around £7-8 million in listed investments. Management sees gold projects in Nevada, South Africa and Peru as key near-term catalysts.