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Capital Metals plc ( (GB:CMET) ) has provided an update.
Capital Metals PLC has announced an extension of the option period for Ambeon Capital PLC’s strategic investment in its Taprobane Minerals Project. This extension allows Ambeon and its investors more time to invest up to an additional US$2 million, with expectations that the full amount will be exercised. The extension is considered a related party transaction, and the terms have been deemed fair and reasonable by the company’s independent directors. This development could enhance Capital Metals’ financial position and support its project development efforts in Sri Lanka.
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. The project is known for its high-grade mineral sands, including ilmenite, rutile, zircon, and garnet, and has significant potential for resource expansion. The company aims to implement modern mining practices and contribute positively to the Sri Lankan economy by creating jobs and generating substantial government revenue.
Average Trading Volume: 379,945
Technical Sentiment Signal: Buy
Current Market Cap: £13.58M
Learn more about CMET stock on TipRanks’ Stock Analysis page.