Business
Extension of Option Agreement with Jubilee Metals
Extension of Option Agreement with Jubilee Metals.
About this update from Critical Mineral Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 4566S\n Caerus Mineral Resources PLC\n 16 November 2021\n \n \n \n \n 16 November 2021\n \n \n Caerus Mineral Resources PLC\n \n \n ('Caerus' or the 'Company')\n \n \n Extension of Option Agreement with Jubilee Metals Group PLC\n \n \n Caerus Mineral Resources (LON: CMRS), the exploration and resource development company focused on developing mineral resources in Europe to support the global \"Clean Energy\" initiative, is pleased to inform shareholders of the signing of an extension to the Option Agreement (the \"Option\" or \"Agreement\") between the Company and Jubilee Metals Group PLC (\"Jubilee\"). \n Highlights\n \n · Jubilee and Caerus have agreed to extend the agreement for a further period of 18 months within which window a positive Joint Venture decision is anticipated.\n \n · With the recent acquisition by Caerus of highly prospective new licences and assets, the Parties recognise that the scale of the opportunity has increased significantly\n \n · Good progress has been achieved during the initial Option period and the companies have jointly identified dumps and properties that warrant further detailed investigation with a view to forming a Joint Venture for development\n \n · The main focus remains the Troulli - Kokkinapetra Project where both Parties are working towards a possible joint venture early in 2022\n \n · Work programmes and in-country design and engineering support are expected to increase as Jubilee advances test work towards finalising a processing plant for production purposes\n \n \n Commenting on the extension of the Option Agreement, Chief Executive Officer Martyn Churchouse said \"\n The main focus of our Waste to Revenue development remains the Troulli Project and a large number of samples are currently being assayed whilst bulk samples are subject to metal recovery test work by Jubilee. Very good progress has been made and we look forward to a swift and positive conclusion comprising a first Joint Venture with Jubilee. In this context, plans have been made for a team of Jubilee engineers to visit site before the end of November. The positive feedback from initial test work and the innovative approach adopted by Jubilee has incentivised Caerus to review and assess a much wider range of resource types than origin...