Business
Operational and Strategic Update
Operational and Strategic Update.
About this update from Corcel Plc
[{"type":"text","content":"\n \n \n \n \n \n \n Corcel PLC\n \n \n \n (\"Corcel\" or the \"Company\")\n \n \n \n \n \n Operational and Strategic Update\n \n \n \n \n \n \n \n \n \n \n \n \n \n 20 February 2023\n \n \n \n Corcel\n Plc (London AIM: CRCL),\n the natural resource exploration and development company, with interests in battery metals including nickel, cobalt, vanadium and rare earth elements,\n announces its forward work programme and revised strategy following the successful restructuring of its corporate debt and the completion of the disposal of its UK asset portfolio. \n \n \n \n Highlights\n \n \n \n o \n Corcel positioned as a carried non-operator miner across multiple mineral exploration projects in its growing battery metals upstream portfolio\n \n \n o \n Broadening of strategy to include oil and gas alongside mining, reflecting the significant onshore opportunity set in oil and gas at attractive valuations and the Company's Executive experience and connectivity in this space\n \n \n o \n Strategic focus on Brazil where the Company is at an advanced stage on multiple transactions across both mining and oil and gas\n \n \n \n Upstream Battery Metals:\n \n \n \n The Company has historically been primarily focused on an upstream battery metals strategy, reflecting its strong belief in global electrification, the expected supply constraints in these key metals and the associated price increases already underway involving battery metals globally. The Company notes recent structural increases in the prices of copper, nickel, lithium and other key battery metals.\n \n \n The current battery metals portfolio primarily includes the Company's interests in two PNG based lateritic nickel deposits, Mambare and Wowo Gap (where it holds a 41% and 100% interest respectively). As announced on 17 October 2022, the Company is well advanced in a restructuring and the formation of a new joint venture entity in Asia, such that it will retain a non-operated and fully carried interest in these projects as they continue to be developed. The Company will update the markets upon formal signature of the transaction. As previously announced, the intention of this restructuring is to tie these assets to several Asian industrial concerns and end users of these metals, and to prepare the portfoli...