Critical Metals PLC - Africa-focused natural resources investor - Reports pretax loss of GBP152,111 for the six months ended December 31, widened from GBP17,437 year-on-year. During the six-month period, Critical Metals completed its admission to the Standard Segment of the Main Market of the London Stock Exchange, raising gross proceeds of GBP800,000 in September. Costs associated with listing for the period reached GBP64,574, up substantially from GBP11,000 a year prior. No revenue was generated.
Looking ahead, Critical Metals says it is confident 2021 will be a period of "significant" progress for the company in terms of new transactions.
"We have now narrowed down our search and are in discussions with a small number of potential opportunities on which we will provide further updates on as these discussions progress. We have experienced further strong support from shareholders in recent weeks, with the exercise of warrants post period-end which have strengthened our cash position by some GBP935,000, demonstrating the confidence shareholders have in the company's strategy," it says.
Current stock price: 17.65 pence, up 12% on Monday
Year-to-date change: up sharply from 5.63p on December 31
By Zoe Wickens; zoewickens@alliancenews.com
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Critical Metals (CRTM)