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Citius Resources PLC ( (GB:HREE) ) has shared an announcement.
Harena Resources Plc has announced its complete ownership of the Ampasindava Project in Madagascar after acquiring the remaining 25% stake, resulting in the issuance of 66,666,666 new ordinary shares. This strategic move enhances Harena’s control over a world-class rare earth project, positioning the company for future production and potentially strengthening its market position in the rare earths industry. The issuance of new shares will also impact the shareholdings of certain directors and significant shareholders, with the shares expected to be admitted to trading on the London Stock Exchange by early September 2025.
Spark’s Take on GB:HREE Stock
According to Spark, TipRanks’ AI Analyst, GB:HREE is a Underperform.
Citius Resources PLC faces critical financial and technical challenges, with no revenue and poor market indicators dominating the outlook. While positive corporate events suggest potential upside, these factors are overshadowed by the company’s ongoing financial distress and negative technical trends.
To see Spark’s full report on GB:HREE stock, click here.
More about Citius Resources PLC
Harena Resources Plc is a rare earths exploration and development company focused on the Ampasindava Ionic Clay Rare Earth Project in Madagascar. The project is notable for being one of the largest ionic clay rare earth deposits outside of China, with significant concentrations of high-value magnet metals. Harena is dedicated to low-impact, high recovery mining, aiming to provide a sustainable supply of critical minerals for the global energy transition and military defense industries.
Average Trading Volume: 581,048
Technical Sentiment Signal: Hold
Current Market Cap: £8.18M
For a thorough assessment of HREE stock, go to TipRanks’ Stock Analysis page.