Halo Minerals plc (AIM: HALO), the AIM-listed copper development company focused on recovering critical minerals from legacy mining waste, has announced that its wholly owned Chilean subsidiary, Minera Playa Verde SpA, has been granted a provisional mining easement for its Playa Verde Copper Tailings Project. The easement was granted by the 2nd Civil Court of Copiapó on 6 November 2026 under Article 125 of the Chilean Mining Code, covering approximately 268,166 square metres of Chilean State-owned land. The company also updated investors on its pathway to a Final Investment Decision and disclosed the issue of 222,222 new ordinary shares to a consultant.

Key Points

  • Halo Minerals plc (AIM: HALO) is a copper development company focused on recovering critical minerals from legacy mining waste in Chile.
  • Minera Playa Verde SpA has been granted a provisional mining easement covering approximately 26.8 hectares of Chilean State-owned land for the Playa Verde Copper Tailings Project.
  • 222,222 new ordinary shares were issued at 18 pence each to a consultant for services valued at £40,000, with Admission expected on or around 13 November 2026.
  • Investors should watch for further updates on permit applications, funding discussions, and potential off-take or marketing agreements as the company advances towards FID.

2nd Civil Court of Copiapó Grants Provisional Easement Over 26.8 Hectares for Playa Verde Project

The provisional mining easement, known in Chilean law as a servidumbre provisoria, was granted pursuant to Article 125 of the Chilean Mining Code, which permits a court to authorise the use of a requested easement while formal constitution proceedings remain pending. The easement covers the Verde 1-87 and C1 to C7 exploitation concessions, providing rights of occupation and transit over the onshore section of the Playa Verde project area. The directors expect the easement to enable Minera Playa Verde SpA to finalise and submit the remaining sectorial permit applications for the project, representing a material step in de-risking the development pathway.

FID Pathway: Virtual Data Room Access and Metals Trader Discussions Under Way

Halo Minerals states that a significant number of potential funding parties have signed non-disclosure agreements and have been granted access to the company's virtual data room, which contains technical, processing, permitting, and economic information relating to Playa Verde. The company is advancing discussions with several of these parties on potential funding structures aligned with the project's economic profile, as outlined in the Competent Person's Report whose highlights were announced on 16 October 2026. The company is also in active discussions with established metals traders regarding potential off-take and marketing arrangements covering anticipated copper cathode and copper-gold concentrate production. The announcement cautions that no certainty exists that these discussions will result in binding agreements.

Halo Minerals Issues 222,222 Consultant Shares at 18 Pence, Raising Total Voting Rights to 110,966,968

The company has issued 222,222 new ordinary shares at 18 pence per share — equal to the AIM IPO fundraising price — in respect of a consultant services contract valued at £40,000. The consultant has confirmed it will not dispose of these shares for at least six months from Admission. Admission to AIM is expected to become effective, with dealings commencing at 8.00 a.m. on or around 13 November 2026. Following Admission, Halo Minerals' total issued share capital will comprise 110,966,968 ordinary shares, with no shares held in treasury, giving an equivalent total voting rights figure of 110,966,968.

Critical Minerals Focus and Chilean Permitting Timeline Remain Key Risks for HALO Investors

Halo Minerals' business model centres on extracting copper from legacy tailings at Playa Verde, positioning the project within the growing critical minerals supply chain. However, the announcement notes that processing times for remaining sectorial permit applications are determined by the relevant Chilean authorities, introducing timing uncertainty outside the company's direct control. Funding discussions and off-take negotiations also remain at a non-binding stage. Investors may be watching closely for binding commitments from financing parties and regulatory progress on outstanding permits as the clearest near-term indicators of the project's advancement towards a Final Investment Decision.