The new operator of Lion One Metals Ltd’s gold mine in Tuvatu, located in the hinterlands of Sabeto in Nadi, is confident in transforming the mine into a leading underground gold site, not just within the Asia-Pacific region but on a global scale. This optimism stems from a recent subscription agreement with Lion One that grants Arete Capital Advisory Pty Ltd a 9.9% stake in the mine for CAD 15.05 million (FJD 24.32 million).
Arete Capital Advisory, based in Melbourne, is a specialized mining investment syndicate that entered this financing deal with Lion One last December. Lion One, publicly traded on the Toronto Stock Exchange, is led by mining tycoon Walter Berukoff. The company aims to mitigate risks associated with the Tuvatu mining operation, which has yet to yield significant returns for its shareholders despite being publicly listed on TSX since 2011 and actively prospecting in the area since 2014.
“We are thrilled to establish a long-term strategic partnership with Lion One at this critical juncture in the development of the Tuvatu Gold Mine,” stated Campbell Olsen, representing Arete, in a press release from Lion One dated December 30, 2025. He emphasized the mine’s unique potential, describing it as a rare, high-grade alkaline gold system with significant upside, supported by established infrastructure and numerous exploration opportunities across the broader Navilawa Caldera.
Olsen, who serves as Arete’s CEO, noted the company’s deep operational, technical, and financial expertise in converting mid-tier gold assets into profitable, cash-generating enterprises. He expressed confidence in their ability to unlock substantial value at Tuvatu through disciplined mine optimization, strategic capital investments, and a rigorous data-driven exploration program.
The subscription agreement includes a five-year master services agreement that tasks Arete with providing management services for the operation of the Tuvatu Gold Mine, under the supervision of Lion One’s board of directors. Walter Berukoff, chairman and president of Lion One, welcomed Arete as a new shareholder and strategic partner, highlighting the company’s investment as a testament to the quality and growth potential of the Tuvatu Gold Mine.
Changes in management accompany this partnership, including board representation for Arete, following the unexpected departure of Lion One’s CEO Ian Berzins and the resignation of board member Tayfun Eldem last week. In a prior interview, Berzins disclosed that Lion One was managing secured debt totaling USD 32 million (FJD 70.55 million).
As this partnership develops, there is a shared hope that the Tuvatu Gold Mine can emerge as a significant player in the global gold mining industry, promising a fruitful future for both Lion One and Arete Capital Advisory, as well as its shareholders.
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