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DeepRock Minerals, Inc. ( (TSE:DEEP) ) has shared an announcement.
Allied Critical Metals Inc. has completed a reverse takeover of Deeprock Minerals Inc., marking a significant milestone in its strategic positioning as a key supplier of critical minerals. This transaction, which included a brokered private placement raising approximately $4.6 million, enhances the company’s ability to advance its tungsten projects in Portugal, thereby contributing to the diversification of global tungsten supply away from dominant producers like China and Russia.
More about DeepRock Minerals, Inc.
Allied Critical Metals Inc., formerly known as Deeprock Minerals Inc., operates in the critical minerals industry. The company focuses on supplying essential minerals, particularly tungsten, to Western markets. It owns two historical tungsten projects in Portugal, the Borralha and Vila Verde Tungsten Projects, aiming to become a reliable supplier amid global resource nationalism.
Technical Sentiment Signal: Buy
Current Market Cap: C$493.5K
For detailed information about DEEP stock, go to TipRanks’ Stock Analysis page.