Critical Metals PLC - London-based, Africa-focused investment vehicle, with a focus on the critical and strategic metals sector - Announces it has raised GBP600,000 via a placing at 25 pence per share, the proceeds of which will be used to assess acquisition opportunities. In addition, warrants to subscribe for shares are being granted in the ratio of one warrant for every one new share. The warrants are exercisable at a price of 40 pence per share for 18 months from the date of issue. Further, updates on recent progress at the Molulu copper/cobalt asset in the Democratic Republic of Congo. Reports two new copper anomalies were identified by the geophysics analysis on Molulu project. Believes that this will further increase the tonnage to the already known copper resource base. Anticipates drilling will begin in the second half of June 2023 once the first results of the phase 1 programme are received.
Current stock price: 23.85 pence, down 0.6% in London on Wednesday
12-month change: up 62%
By Jeremy Cutler, Alliance News reporter
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Critical Metal (CRTM)