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Capital Metals plc ( (GB:CMET) ) has provided an update.
Capital Metals PLC has announced a significant upgrade to its Mineral Resource Estimate (MRE) at the Initial Mining Area of the Taprobane Minerals Project in Sri Lanka. The new estimate reveals a nearly 15-fold increase in resource tonnes when applying a 2% heavy mineral bottom cut, which could potentially transform the project into a multi-generational mining operation. This upgrade is expected to provide flexible mining options and significantly enhance the project’s valuation, with plans to start construction by early 2027.
More about Capital Metals plc
Capital Metals PLC is a mineral sands company focused on the development of its high-grade Taprobane Minerals Project in Sri Lanka. The company is in the mine development stage, with a focus on mineral sands, particularly heavy minerals, which are crucial for various industrial applications.
Average Trading Volume: 878,783
Technical Sentiment Signal: Hold
Current Market Cap: £25.58M
Find detailed analytics on CMET stock on TipRanks’ Stock Analysis page.