Lions Bay Resources, owned by Metals One (MTOPF) and Lions Bay Capital, is advancing its proposed Barbrook Gold Mine acquisition through business rescue.
The rescue plan received approval from 84% of creditors on April 16, 2026. Lions Bay Resources has committed more than R200 million toward implementation, including payments of outstanding salaries owed to former employees.
Lions Bay Mining, its subsidiary, submitted a Section 11 application to South Africa's Department of Mineral and Petroleum Resources in May 2026. The required proof of funding was provided on September 15, 2026, meeting the regulator's deadline. Regulatory approval remains pending. The company's stated goal is to complete the rescue process and return Barbrook to production.