Capital Metals PLC - London-based mineral sands explorer - Wins new exploration license to further extend the Eastern Minerals project in Sri Lanka 12 kilometres to the north.
Licence has been granted for an initial period of two years, and can be renewed up to four times for a potential term of ten years.
"Obtaining the additional exploration license is a great achievement and shows that Sri Lanka is well and truly open for business following delays as a result of Covid-19. We worked closely with the GSMB to obtain this licence and are encouraged that they are getting back to being fully operational as they are also the authority that will grant our Industrial Mining Licence," says Chief Executive Officer Michael Frayne.
Current stock price: 7.00 pence
12-month change: down 56%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Capital Metals (CMET)