Critical Metals Completes Fundraise to Advance DRC Project

Critical Metals Plc ( (GB:CRTM) ) has issued an announcement.

Critical Metals plc has completed a significant fundraise, resulting in the issuance of 66,830,847 new ordinary shares, which have been admitted to trading on the London Stock Exchange. This recapitalization allows the company to advance its exploration and development activities at the Molulu Copper/Cobalt Project, including acquiring a drill rig and renewing its expired permit with the DRC authorities. The issuance also strengthens NIU’s position, holding over 60% of the company’s share capital, which could influence future strategic decisions.

Spark’s Take on GB:CRTM Stock

According to Spark, TipRanks’ AI Analyst, GB:CRTM is a Underperform.

Critical Metals Plc is currently experiencing significant financial difficulties, with persistent losses and high leverage. Technical indicators also point to a bearish trend. However, the company is taking strategic steps to address these challenges, including cost-saving measures and capital restructuring. The lack of profitability and negative valuation metrics weigh heavily on the overall score, with corporate events providing a slight positive outlook.

To see Spark’s full report on GB:CRTM stock, click here.

More about Critical Metals Plc

Critical Metals plc is a company focused on developing the Molulu Copper/Cobalt Project located in the Katangan Copperbelt of the Democratic Republic of Congo. The company holds a 70% indirect interest in this project and aims to further delineate the orebody, acquire a drill rig, and conduct additional exploration activities.

Average Trading Volume: 57,828

Technical Sentiment Signal: Sell

Current Market Cap: £219K

For detailed information about CRTM stock, go to TipRanks’ Stock Analysis page.