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Capital Metals plc ( (GB:CMET) ) has shared an announcement.
Capital Metals PLC has successfully secured the full US$2 million investment through the Ambeon Option, with Ambeon and its assignees subscribing to additional shares. Sheffield Resources Ltd also plans to maintain its 10% stake by participating in the share issuance. The funds will be used to secure necessary approvals for the Taprobane Minerals Project’s final investment decision, with remaining amounts allocated for capital expenditure. This development strengthens Capital Metals’ financial position and demonstrates confidence in the project’s potential, enhancing its market position and stakeholder value.
More about Capital Metals plc
Capital Metals PLC is a UK-based company listed on the London Stock Exchange, focusing on developing the Taprobane Minerals Project in Sri Lanka. This project involves extracting high-grade mineral sands, including ilmenite, rutile, zircon, and garnet, and is considered one of the highest-grade mineral sands projects globally. The company aims to apply modern mining practices to benefit Sri Lanka and its local communities, expecting to create over 300 jobs and contribute significantly to government revenues.
Average Trading Volume: 410,408
Technical Sentiment Signal: Hold
Current Market Cap: £14.03M
See more data about CMET stock on TipRanks’ Stock Analysis page.