Convertible loan increased to £900,000
Updated : 14:46
18 July 2024
Critical Mineral Resources PLC
('CMR' or the 'Company')
Convertible loan increased to £900,000
Critical Mineral Resources PLC ('CMR' or the 'Company'), the exploration and development company focused on critical metals and minerals in Morocco is pleased to announce that due to strong demand, the Company has raised an additional £150,000 through the convertible loan note issue, announced yesterday 17 July 2024, taking the total funding to £900,000.
As previously announced, these funds will be used to support work on the Igli Silver-Copper Project and general working capital purposes.
Critical Mineral Resources PLC Charles Long, Chief Executive Officer |
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Novum Securities Jon Belliss | +44 (0) 20 7399 9425 |
Hudson Sandler (Financial PR) Charlie Jack | +44 (0) 207 796 4133 |
Notes To Editors
Critical Mineral Resources (CMR) PLC is an exploration and development company focused on developing assets that produce key commodities for the global economy including those essential for electrification and the clean energy revolution. Many of these commodities are widely recognised as being at the start of a supply and demand supercycle.
CMR is building a diversified portfolio of high-quality metals exploration and development projects in Morocco, focusing on copper, manganese and potentially other critical minerals and metals. CMR identified Morocco as an ideal mining-friendly jurisdiction that meets its acquisition and operational criteria. The country is perfectly located to supply raw materials to Europe and possesses excellent prospective geology, good infrastructure and attractive permitting, tax and royalty conditions. In 2023, the Company acquired an 80% stake in leading Moroccan exploration and geological services company Atlantic Research Minerals SARL.
Since taking over the CMR in 2022, the current management has completed a comprehensive strategic review and restructuring of the business and implemented its clear strategy to maximise exploration and resource development opportunities for the benefit of all stakeholders. The Company is listed on the London Stock Exchange (CMRS.L). More information regarding the Company can be found at www.cmrplc.com
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