RE: Copper district in the making7 Mar 2024 08:14
Earl
See below this RNS re 26 more permits in January, then the EVM switch to the KM Vehicle occurred. More than Just Copper in the ground in these permitted areas,
16 January 2024
Critical Mineral Resources PLC
('CMR' or the 'Company')
Acquisition of 26 Moroccan permits
Critical Mineral Resources plc ('CMR' or the 'Company), the exploration and development company focused on clean energy metals in Morocco, is pleased to announce that it has acquired 26 exploration permits in central Morocco prospective for copper, antimony, tungsten, lead-zinc and gold. CMR has acquired the permits through the acquisition of Hesperis Resources SARL, a Moroccan company.
The acquisition transforms CMR's incubator portfolio in terms of the Company's footprint of prospective ground in Morocco and its exposure to a wider range of critical metals and minerals. The Hesperis permits are located in the Rabat, Beni-Mellal, Agadir and Errachidia administrative regions and cover approximately 400 km2. These regions boast a number of historical and current mining sites with established road and power infrastructure.
Reflecting Hesperis' confidence in the opportunity the permitted ground offers and CMR's ability to develop it, its shareholders have agreed to an all-share transaction that sees CMR issue 3.0 million shares to the owners of Hesperis at completion, followed by 1.5 million shares deliverable at the start of drilling. As a sign of their commitment to the project the Hesperis shareholders have also agreed to a ten-month lock-in period