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Citius Resources PLC ( (GB:CRES) ) has shared an update.
Citius Resources PLC announced its interim financial results for the six-month period ending 31 October 2024, highlighting a significant acquisition in the final stages with the UK Regulator. The company is acquiring Harena Resources Pty Ltd, which owns a majority stake in the Ampasindava Rare Earths Project in Madagascar. This acquisition is classified as a Reverse Take Over under the Listing Rules, prompting Citius to apply for re-admission of its shares to the London Stock Exchange’s Main Market. This strategic move is expected to advance their operations in rare earth elements and potentially enhance their market positioning, though the interim results show a continuing loss for the period.
More about Citius Resources PLC
Citius Resources PLC is a company operating in the resources sector, focused on acquiring and developing projects related to rare earth elements. Their market focus includes the mining and processing of Ionic Clay material to produce Mixed Rare Earth Carbonate or Concentrate, with a strategic interest in projects like the Ampasindava Rare Earths Project in Madagascar.
YTD Price Performance: 0.0%
Average Trading Volume: 86,923
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £1.3M
For a thorough assessment of CRES stock, go to TipRanks’ Stock Analysis page.
