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SEC Comment Letter 0000000000-24-008355 to Metals Acquisition Ltd (MTAL) (CIK 0001950246)

Metals Acquisition Ltd (MTAL) (CIK 0001950246)
Date: July 23, 2024 · CIK: 0001950246 · Accession: 0000000000-24-008355

AI Filing Summary & Sentiment

File numbers found in text: 333-276216

Referenced dates: July 23, 2024

Date
July 23, 2024
Author
Division of
Form
UPLOAD
Company
Metals Acquisition Ltd (MTAL) (CIK 0001950246)

Letter

Re: Metals Acquisition Ltd Post-Effective Amendment No.3 to Form F-1 on Form F-3 Filed July 3, 2024 File No. 333-276216 Dear Christopher Rosario:

July 23, 2024

Christopher Rosario General Counsel Metals Acquisition Ltd 3rd Floor, 44 Esplanade St. Helier, Jersey, JE4 9WG

We have reviewed your post-effective amendment and have the following comments.

Please respond to this letter by amending your registration statement and providing the requested information. If you do not believe a comment applies to your facts and circumstances or do not believe an amendment is appropriate, please tell us why in your response.

After reviewing any amendment to your registration statement and the information you provide in response to this letter, we may have additional comments.

Post-Effective Amendment No.3 to Form F-1 on Form F-3 Exhibits

1. The legality opinions filed as exhibits 5.1 and 5.2 with this filing appear to be unchanged from the opinions filed with the amended Form F-1 from January 9, 2024, including retaining a date for exhibit 5.1 of January 9, 2023. But there have been substantial changes to the number of outstanding ordinary shares and the number of outstanding warrants shown in the respective "Offering" sections of the two filings. For example, we note that page 7 of the January 9 filing shows a total of 18.6 million outstanding warrants, including "Public Warrants" and "Private Warrants," whereas the corresponding disclosure at page 3 of the POSAM filed July 3, 2024, includes only the approximately three million "Financing Warrants" from the January 9 filing.

Please file as exhibits new or updated legality opinions to cover all the offered securities and to reflect any changes to the composition of the offered securities. Also, make corresponding changes to the prospectus cover page and elsewhere in the filing, as July 23, 2024 Page 2

appropriate. In the alternative, confirm to us that the cover page disclosure and the two filed legality opinions remain current and reflect all intervening changes, including any warrant exercises in the interim period. General

2. Please update this filing to reflect any changes you make in response to the staff's comments to your Form 20-F in the letter dated July 23, 2024. For example, at page ix you incorporate by reference the Form 20-F filed March 28, 2024. We remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff.

Please contact Timothy Levenberg at 202-551-3707 or Daniel Morris at 202-551-3314 with any other questions.

Sincerely,
Division of
Corporation Finance
Office of Energy &
Transportation
cc: Ryan J. Dzierniejko, Esq., of Skadden Arps et al.

Show Raw Text
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<TEXT>
                                                             July 23, 2024

Christopher Rosario
General Counsel
Metals Acquisition Ltd
3rd Floor, 44 Esplanade
St. Helier, Jersey, JE4 9WG

       Re: Metals Acquisition Ltd
           Post-Effective Amendment No.3 to Form F-1 on Form F-3
           Filed July 3, 2024
           File No. 333-276216
Dear Christopher Rosario:

       We have reviewed your post-effective amendment and have the following
comments.

       Please respond to this letter by amending your registration statement
and providing the
requested information. If you do not believe a comment applies to your facts
and circumstances
or do not believe an amendment is appropriate, please tell us why in your
response.

       After reviewing any amendment to your registration statement and the
information you
provide in response to this letter, we may have additional comments.

Post-Effective Amendment No.3 to Form F-1 on Form F-3
Exhibits

1.     The legality opinions filed as exhibits 5.1 and 5.2 with this filing
appear to be unchanged
       from the opinions filed with the amended Form F-1 from January 9, 2024,
including
       retaining a date for exhibit 5.1 of January 9, 2023. But there have been
substantial
       changes to the number of outstanding ordinary shares and the number of
outstanding
       warrants shown in the respective "Offering" sections of the two filings.
For example, we
       note that page 7 of the January 9 filing shows a total of 18.6 million
outstanding warrants,
       including "Public Warrants" and "Private Warrants," whereas the
corresponding
       disclosure at page 3 of the POSAM filed July 3, 2024, includes only the
approximately
       three million "Financing Warrants" from the January 9 filing.

       Please file as exhibits new or updated legality opinions to cover all
the offered securities
       and to reflect any changes to the composition of the offered securities.
Also, make
       corresponding changes to the prospectus cover page and elsewhere in the
filing, as
 July 23, 2024
Page 2

       appropriate. In the alternative, confirm to us that the cover page
disclosure and the two
       filed legality opinions remain current and reflect all intervening
changes, including any
       warrant exercises in the interim period.
General

2.     Please update this filing to reflect any changes you make in response to
the staff's
       comments to your Form 20-F in the letter dated July 23, 2024. For
example, at page ix
       you incorporate by reference the Form 20-F filed March 28, 2024.
        We remind you that the company and its management are responsible for
the accuracy
and adequacy of their disclosures, notwithstanding any review, comments, action
or absence of
action by the staff.

       Please contact Timothy Levenberg at 202-551-3707 or Daniel Morris at
202-551-3314
with any other questions.

                                                            Sincerely,

                                                            Division of
Corporation Finance
                                                            Office of Energy &
Transportation
cc:   Ryan J. Dzierniejko, Esq., of Skadden Arps et al.
</TEXT>
</DOCUMENT>