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Capital Metals plc ( (GB:CMET) ) has shared an update.
Capital Metals has announced that Sheffield Resources Limited has sold its entire 10% stake, amounting to 49,173,418 shares, and no longer holds an interest in the company. The block was fully placed with new institutional and high net worth investors, including existing shareholders and associates of Ambeon Capital PLC, already the company’s largest shareholder, signalling continued investor interest despite Sheffield’s exit which was driven by its own working capital pressures rather than concerns over Capital Metals’ Sri Lankan mineral sands project.
More about Capital Metals plc
Capital Metals plc is a UK-listed mineral sands company on AIM, focused on developing the high-grade Taprobane Minerals Project in eastern Sri Lanka. The project hosts industrial minerals including ilmenite, rutile, zircon and garnet, is regarded as one of the highest-grade mineral sands deposits globally, and has been assessed with a significant project NPV and potential for further resource expansion, alongside commitments to modern mining practices and local economic benefits.
Average Trading Volume: 658,077
Technical Sentiment Signal: Buy
Current Market Cap: £22.14M
For a thorough assessment of CMET stock, go to TipRanks’ Stock Analysis page.