Critical Metals PLC Update re Proposed Acquisition of DRC Project (0646K)
31 Agosto 2021 - 1:00AM
UK Regulatory
TIDMCRTM
RNS Number : 0646K
Critical Metals PLC
31 August 2021
Critical Metals plc / EPIC: CRTM / Market: Main Market / Sector:
Closed End Investments
31 August 2021
Critical Metals plc
("Critical Metals" or the "Company")
Update re Proposed Acquisition of DRC Copper/Cobalt Project
Critical Metals plc, a mining investment company established to
acquire mining opportunities in the critical and strategic metals
sector , is pleased to provide an update on its proposed
acquisition of a majority stake in Mauritius-based Madini
Occidental Ltd, the 70% shareholder of Miniere Molulu in the
Democratic Republic of the Congo (DRC) announced on 20 May
2021.
All key advisers have been engaged and workstreams in relation
to due diligence and application for readmission to trading on the
Standard List, including the preparation of a Prospectus, are
underway. A Competent Persons Report has been prepared in respect
of the Molulu Project and the audit and conversion of the Madini
Occidental Ltd accounts into an IFRS compliant format is
progressing. It is expected that a draft Prospectus will be
submitted to the FCA for review in the coming weeks.
The Board also notes that the Company continues to assess
further potential acquisition opportunities in the copper-cobalt,
tantalum-tin, vanadium-titanium, and tantalum-niobium sectors in
line with its stated strategy.
The Board looks forward to providing further updates in due
course.
**ENDS**
For further information on the Company please visit
www.criticalmetals.co.uk or contact:
Russell Fryer Critical Metals plc Tel: +44 (0)20
7236 1177
Rory Murphy / Strand Hanson Limited Tel: +44 (0)20
James Bellman Financial Adviser 7409 3494
Lucy Williams Peterhouse Capital Limited, Tel: +44 (0)20
/ Corporate Broker 7469 0936
Heena Karani Tel: +44 (0)20
7469 0933
Catherine Leftley St Brides Partners Ltd, Tel: +44 (0)20
/ Isabelle Morris Financial PR 7236 1177
About Critical Metals
Critical Metals was formed as an investment company and intends
to make equity investments into operators or near-term production
operators within the natural resources development and production
sector in the continent of Africa. It is envisaged that such
acquisition or acquisitions will trigger a reverse takeover in
accordance with the listing rules. The Company intends to search
initially for acquisition opportunities in the natural resources
sector on known deposits and more specifically minerals that are
perceived to have strategic importance to future economic growth.
Commodities such as antimony, beryllium, cobalt, copper, fluorspar,
gold, rare earth elements, tin, tungsten, titanium, and vanadium
have been identified by several governments as "critical minerals"
and so guaranteeing supplies is seen as a strategic necessity. The
Company therefore believes that the market conditions for these
minerals will remain strong in the short-to-long term.
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END
UPDBDGDICUDDGBR
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August 31, 2021 02:00 ET (06:00 GMT)
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