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(Alliance News) - Critical Metals on Wednesday posted a widened loss for its recently-ended financial year but positively noted it has narrowed down its search for acquisition opportunities.
Shares in the Africa-focused natural resources investor which began trading on the main market of the London Stock Exchange in September were trading 0.6% lower at 5.59 pence each on Wednesday morning in London.
For its financial year ended June 30, 2020, Critical Metals posted a pretax loss of GBP98,293, widened from GBP73,234 the year prior. No revenue was generated.
Looking ahead, it said after evaluating a large number of potential targets, it has now narrowed down its search to a smaller number of companies which it believes have the potential to produce any combination of cobalt, copper, niobium, tantalum, titanium, or vanadium.
"I am very excited about what 2021 might hold for Critical Metals and hope that it will be a year of significant growth for the company as we look to advance our strategy and build value for shareholders," said Chair Russell Fryer.
By Ife Taiwo; ifetaiwo@alliancenews.com
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