Critical Mineral Resources Plc - Issue of Equity
2026 Resource Drilling Plan and Placing
The fundraise is subject to the approval of a prospectus by the
PLACING OF NEW SHARES
-- Placing of 108,888,885 million new ordinary shares in the capital of the
Company at 2.25p for gross proceeds of £2.45m.
-- Subscription of 21,111,110 million new ordinary shares in the capital of
the Company at 2.25p for gross proceeds of £0.475m.
-- Continued support from CMR’s strategic major shareholder.
-- Grant of Placing Warrants for all subscribers in the fundraising at 4.5p
per share on a 1 for 1 basis.
-- Shard Capital Partners appointed as joint broker to the Company.
USE OF FUNDS AND FAST TRACK DEVELOPMENT
-- As part of CMR’s strategy to become a mid-sized North African Copper
producer, the company plans to continue resource drilling of near
surface mineralisation discovered at Zone 1 and Zone 2 at Agadir
Melloul.
-- The Company’s diamond drilling rig and a contractor drill rig will both
be turning with the aim of drilling 1,000 metres per month to fast track
the project’s first JORC compliant mineral resource estimate by early Q3
2026.
-- CMR is currently evaluating several value-accretive potential
acquisitions in Morocco .
ABOUT
-- A shallow, near-surface tabular copper deposit that offers low capex and
a rapid development path. Its geometry is suitable for open-pit
operations, enabling our investors to benefit from the favourable
economics of surface assets while capitalising on scale potential.
-- Less than 1% of the project area drilled. Ongoing mapping confirms a
district wide mineralised envelope, consistent with our 25 million tonne
Initial Exploration Target with an equivalent grade of 1.2% copper.
-- The existence of potential economic grades of gold and silver within the
permits, providing our investors with additional upside.
-- The rhyolite copper-silver discovery, a second style of mineralisation
which has potential to become a new project alongside the existing
sedimentary copper target.
-- Agadir Melloul is proximal to the Tizert Project (resource of 130Mt
grading 0.9% copper) and shares the same geology and style of copper
mineralisation.
-- Drilling, mapping, trenching, channel sampling and initial metallurgical
test work has been completed.
-- Metallurgical testwork returned recoveries of 80.1% and 61.3% for copper
and silver respectively.
-- Initial drill results include: 5.8m at 1.12% copper and 19g/t silver,
6.5m at 1.03% copper 4.7m at 1.48% copper, 4.7m at 1.03% copper, 6.0m at
1.4% copper and 31g/t silver, 10.0m at 1.1% copper and 20g/t silver and
0.12g/t, 1.0m at 2.5g/t gold from 5.0m, 1.0m at 1.05g/t gold, 0.8m at
1.67g/t gold.
Fig.1 Zone 1 North, long section showing shallow undulating mineralisation
A diagram of a soil layerAI-generated content may be incorrect.
Source: Company
“This exceptional achievement underscores strong market confidence in CMR’s strategic vision and its growth potential. It is also very pleasing that our strategic investor has anchored the capital raise, demonstrating its conviction.
We are very grateful for this support and from new shareholders of CMR. We are now able to drill more than 1,000m per month to test the near surface mineralisation discovered at Agadir Melloul. We expect around 20 shallow drill holes to be completed per month and for the results to delineate a maiden JORC compliant resource in approximately 6 months’ time”.
ENDS
__________________________________________________________ |Critical Mineral Resources plc | | | |info@cmrplc.com | |Charles Long, Chief Executive Officer| | |_____________________________________|____________________| |Shard Capital LLP | | | | | |Erik Woolgar | | | |+44 (0) 207 186 9952| |Damon Heath | | | |+44 (0) 20 7399 9425| |AlbR Capital | | | | | |Jon Belliss | | |_____________________________________|____________________|
Notes To Editors
CMR is building a diversified portfolio of high-quality metals exploration and development projects in
The Company is listed on the
Asset 13 2x-100
