Critical Mineral Resources plc has secured an additional £462,474 through the issue of convertible loan notes, following the £2.5 million investment earlier this month. The CLNs are convertible into ordinary shares in the company at £0.0145 per share, accruing interest of 5% per annum. CMR, focused on silver, copper and manganese in Morocco, will receive […]
Tag: manganese
CMR secures £2.5m for Morocco activities
Critical Mineral Resources plc has secured a £2.5 million investment from Gilini Holdings Ltd to advance its activities in Morocco. OPPORTUNITIES The funds will be used to acquire more projects, expand CMR’s commodities trading venture, progress its existing Morocco portfolio and for general working capital. Of the total investment, £2,075,000 has an average purchase price […]
CMR sets up JV trading arm in Morocco
Critical Mineral Resources plc has agreed a joint venture to trade mined metals and industrial minerals from Morocco. EXPERTISE The 70-30% deal is with “a Moroccan trading company” which has access to sources of mined materials and international customers. Both partners will also “source metal and mineral concentrates and raw ores” before arranging delivery to […]
CMR sets up Morocco ‘incubator portfolio’
Critical Mineral Resources plc (CMR) has started its Moroccan acquisitions with an “incubator portfolio” and a binding deal for an advanced copper-silver project. DISTINCT PROJECTS The company said it had identified a number of open areas prospective for copper, silver, manganese and barite while it continues fieldwork on prospective areas. Local subsidiary Atlantic Research Minerals […]
Red Rock sells Jupiter holdings for £1.24 million
Red Rock Resources plc has raised $1.24 million after selling a substantial part of its remaining holding in manganese producer Jupiter Mines Ltd. CHANGES The company said it retained 5,870,693 shares in Jupiter which focuses on the Tshipi mine in South Africa. “We manage our investments actively and having formed the view that prospects in […]
Red Rock marks record production at Tshipi
Red Rock Resources plc announced record production during October at its manganese-iron ore interests in Jupiter Mines Ltd in Northern Cape, South Africa. FINANCES Cash generated from operations at Tshipi Borwa mine during the third quarter was reported at AU$ 42.1m. Average FOB cost of production fell from Q2 to Q3 by approximately 15%. Cash […]