Capital Metals plc

PAL

GB00BMF75608

Construction Materials

Market Closed - London S.E. Other stock markets 11:35:28 2024-04-29 am EDT			5-day change	1st Jan Change
4.4 ^GBX	-1.12%		-4.35%	+22.22%

Apr. 02	Capital Metals PLC Announces the Appointment of Bruce Griffin as A Non-Executive Director	CI
Mar. 21	EARNINGS AND TRADING: Hostelworld boosts revenue and narrows loss	AN

Capital Metals to work with LB Group on non-exclusive basis

January 05, 2024 at 10:20 am EST

Capital Metals PLC - mineral sands company approaching mine development stage at the high-grade Eastern Minerals Project in Sri Lanka - Says that discussions with LB Group will now be continuing on a non-exclusive basis, after the board decided not to renew exclusivity beyond December 31. LB Group is a manufacturer of high-performance titanium dioxide pigments and sponge. Explains that this decision was made because of additional interest to fund the project into production, following the full reinstatement of the Industrial Mining Licences announced in December.

Executive Chair Greg Martyr says: "While we continue to work with LB Group to progress the Memorandum of Understanding announced on 9 May 2023 to a definitive agreement, the company's opportunity set has broadened, and we determined it was in the best interest of all stakeholders to be free to pursue additional options and funding structures in parallel with the negotiations with LB Group to deliver the project in a timely manner and maximise value."

Current stock price: 3.30 pence, down 20% in London on Friday

12-month change: up 48%

By Holly Beveridge, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Latest news about Capital Metals plc

Capital Metals PLC Announces the Appointment of Bruce Griffin as A Non-Executive Director	Apr. 02	CI
EARNINGS AND TRADING: Hostelworld boosts revenue and narrows loss	Mar. 21	AN
Capital Metals plc Provides Project Development Updates	Mar. 21	CI
EARNINGS AND TRADING: Cykel and Mustang push back takeover deadline	Mar. 15	AN
Capital Metals Announces Strategic Investment	Mar. 15	RE
Capital Metals to Pursue Other Funding Options for Sri Lanka Project; Shares Drop	Jan. 05	MT
Capital Metals to work with LB Group on non-exclusive basis	Jan. 05	AN
Capital Metals to Raise Additional Funds for Sri Lanka Mining Project	Dec. 11	MT
Capital Metals raises GBP1.3 million from placing and subscription	Dec. 11	AN
Capital Metals Raises Funds for Mine Construction Planning	Dec. 06	MT
Capital Metals completes share subscription but loss widens	Dec. 06	AN
Capital Metals plc Reports Earnings Results for the Half Year Ended September 30, 2023	Dec. 06	CI
Fed Chair Powell tempers US rate cut hope	Dec. 01	AN
Capital Metals' mining licences formally reinstalled by Sri Lanka body	Dec. 01	AN
Stocks end week mixed on soft US employment data	Nov. 03	AN
Stocks mixed ahead of key US payroll data	Nov. 03	AN
FTSE 100 Closes Down 1.2% as Sentiment Remains Weak, Rentokil Slips on Disappointing Update	23-10-19	DJ
Capital Metals hails order to bureau to reissue mining licence	23-10-19	AN
Capital Metals Wins Against GSMB in Statutory Appeal for Cancellation of Mining Licenses in Sri Lanka	23-10-19	MT
AIM WINNERS & LOSERS: OnTheMarket surges on CoStar takeover	23-10-19	AN
Capital Metals surges following Sri Lankan minister's expulsion	23-10-10	AN
AIM WINNERS & LOSERS: Image Scan up on expected swing to profit	23-10-10	AN
Capital Metals Shares Jump Following Dismissal of Sri Lankan Minister Involved in Mining Appeal	23-10-10	MT
Capital Metals welcomes changes in Sri Lanka	23-10-03	AN
AIM WINNERS & LOSERS: Cambria Africa plummets on resuming trading	23-09-15	AN

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Company Profile

Capital Metals plc is a United Kingdom-based mineral sands company. The Company is focused on exploring, developing, and producing high-grade mineral sands for the international market. The Company is focused on the development of the Eastern Minerals Project. The Eastern Minerals Project is located in the Eastern Province of Sri Lanka, approximately 220 kilometers (km) east of Colombo. The Project has a Joint Ore Reserves Committee (JORC) Resource of 17.2 Mt with an average grade of 17.6% Total Heavy Minerals (THM). The Company has the grant of an additional exploration license (EL) 430 to further extend the Eastern Minerals Project 12 km to the north, including the Oluvil Port. EL430 contains areas prospective for further mineral sands resources.

Sector

Construction Materials

Calendar

2024-11-11 - Q4 2024 Earnings Release (Projected)

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