Business
Issue of Equity
Critical Mineral Resources plc has successfully raised £2.925 million before expenses through a placing and subscription, with new ordinary shares expected to be admitted to trading on the London Stock Exchange around January 29, 2026. The company plans to use these funds to accelerate resource drilling at its Agadir Melloul project in Morocco, aiming to drill 1,000 metres per month to establish a JORC compliant mineral resource estimate by early Q3 2026. This drilling program will focus on near-surface mineralisation at Zone 1 and Zone 2, with the goal of becoming a mid-sized North African copper producer and evaluating potential acquisitions. Initial drilling results at Agadir Melloul have shown promising grades of copper, silver, and gold. Disclaimer*
About this update from Critical Mineral Resources Plc
[{"type":"text","content":"\n\n \n \n \n \n \n \n \n \n 22 January 2026\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Critical Mineral Resources Plc\n \n \n \n \n 2026 Resource Drilling Plan and Placing\n \n \n \n \n \n \n Critical Mineral Resources plc (“CMR”, “Company”), which has a diversified portfolio of high-quality development and exploration projects in Morocco, announces the successful completion of a heavily oversubscribed fundraise completed by Shard Capital Partners to raise £2.925 million before expenses and provides an update on its near-term resource drilling plans for enhancing the value of its portfolio.\n \n \n The fundraise is subject to the approval of a prospectus by the Financial Conduct Authority. The Company is pleased to report that it is in the final stages of obtaining approval of a prospectus. Once approval has been obtained, the Company will make an application\n \n for the new ordinary shares issued in relation to the fundraise to be admitted to trading on the Main Market of the London Stock Exchange which is expected to be on or around 29 January 2026.\n \n \n \n \n \n \n PLACING OF NEW SHARES\n \n \n \n \n Placing of 108,888,885 million new ordinary shares in the capital of the Company at 2.25p for gross proceeds of £2.45m.\n \n \n Subscription of 21,111,110 million new ordinary shares in the capital of the Company at 2.25p for gross proceeds of £0.475m.\n \n \n Continued support from CMR’s strategic major shareholder.\n \n \n Grant of Placing Warrants for all subscribers in the fundraising at 4.5p per share on a 1 for 1 basis.\n \n \n Shard Capital Partners appointed as joint broker to the Company.\n \n \n \n \n \n \n \n USE OF FUNDS AND FAST TRACK DEVELOPMENT\n \n \n \n \n As part of CMR’s strategy to become\n \n a\n \n mid-sized North African Copper producer, the company\n \n plans to continue\n \n resource drilling of\n \n near surface mineralisation discovered at Zone 1 and Zone 2 at Agadir Melloul.\n \n \n The\n \n Company’s\n \n diamond drilling rig and a contractor drill rig will both be turning with\n \n the aim of drilling\n \n 1,000 metres per month\n \n to fast track\n \n the project’s first JORC compliant mineral resource estimate\n \n by early Q3 2026.\n \n \n CMR is currently evaluating severa...