Update on Black Schist Projects & share disposal

Gunsynd PLC

16 November 2023

 

Gunsynd PLC

("Gunsynd" or the "Company")

Update on Conditional Farm-in to Black Schist Projects in Finland and partial disposal of Charger Metals shares

Gunsynd (AIM: GUN; AQSE: GUN) is pleased to announce that it has now paid the first tranche of £250,000 with respect to the conditional farm in agreement with Metals One Plc ("Metals One") which was previously announced by the Company on 21 June 2022.  Gunsynd will receive 6.25% of the enlarged  share capital of Finnaust Mining Northern OY ("Finnaust") (which holds the Projects). Upon completion of the fourth tranche, Gunsynd will hold 25% of the issued share capital of Finnaust (assuming no further share issuances in Finnaust).

Sale of investee company shares 

Gunsynd has sold 1,237,060 ordinary shares in Charger Metals NL ("Charger") (ASX: CHR), for proceeds of AUD$497,186.50 (approx £257,000) at an average price of AUD$ 0.402 per ordinary share. Gunsynd continues to hold 1,300,000 shares in Charger representing approximately 2.1 % of the issued share capital of Charger. 

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

For further information please contact:

Gunsynd plc Hamish Harris/ Peter Ruse  www.gunsynd.com	[phone]
Cairn Financial Advisers LLP James Caithie / Liam Murray	[phone]
Peterhouse Capital Limited Lucy Williams	[phone]

 

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