Huge potential, not to miss15 Mar 2024 14:58
Highlights
· Placing to conditionally raise approximately £0.25 million through the sale of New Shares and Treasury Shares at 1.25p per share.
· Net proceeds of the Placing will enable the Company to advance the Ifri Project ('Ifri') in the Anti-Atlas which has delivered very positive initial results. Prospecting by CMR's geological team demonstrates copper and silver in multiple quartz vein and shear zone structures with some zones assaying for gold.
· The Company is also in discussions with a leading global commodity trading group that would like CMR to act as its Moroccan partner to source and supply certain minerals for its global supply chain. Trading in metals and potentially industrial minerals, either in a partnership or individually, provides the Company with an opportunity for near-term cash flows.
· Ifri Project located in an alteration hotspot and initial channel sampling included an assay of 3.1% copper and 17 g/t silver.
· The Ifri Project is in an active mining belt which hosts four active and seven previously operating mines of copper, silver and gold.