Capital Metals plc ( (GB:CMET) ) has shared an announcement.
Capital Metals PLC announced a key agreement with Sri Lanka’s Geological Survey and Mines Bureau to provide technical services for the resampling and drilling programme at the Taprobane Minerals Project. Despite delays due to recent governmental changes, the company remains on track to reach its Final Investment Decision by Q2 2025, aiming to commence construction shortly thereafter. The project is poised for significant impact with potential resource expansion and strong local community engagement, as Capital Metals also continues to explore financing options with potential partners to minimize equity requirements.
More about Capital Metals plc
Capital Metals is a UK-based company listed on the London Stock Exchange, focusing on the development of the Taprobane Minerals Project in Sri Lanka. This project is notable for its high-grade mineral sands, including ilmenite, rutile, zircon, and garnet, and is positioned as one of the top mineral sands projects globally. The company emphasizes modern mining practices and aims to deliver significant economic benefits to Sri Lanka, with plans to create over 300 direct jobs and contribute over US$130m in government royalties and taxes.
YTD Price Performance: -11.76%
Average Trading Volume: 428,170
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £5.17M
For detailed information about CMET stock, go to TipRanks’ Stock Analysis page.