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Molulu Project Update & £600,000 Premium Placing
Molulu Project Update & £600,000 Premium Placing.
About this update from Critical Metals Plc
[{"type":"text","content":"\n\nThis announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (596/2014/EU) as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, such information no longer constitutes inside information.\n \nCritical Metals plc / EPIC: CRTM / Market: Main Market\n \n31 May 2023 \nCritical Metals plc\n(\"Critical Metals\" or the \"Company\") \n \nMolulu Project Update\n£600,000 Premium Placing\n \nCritical Metals plc, a mining investment company established to acquire mining opportunities in the critical and strategic metals sector, is pleased to provide an update on recent progress at the Company's Molulu copper/cobalt asset (\"Molulu\" or the \"Molulu Project\") in the Democratic Republic of Congo (\"DRC\").\n \nIn addition, Critical Metals is pleased to announce it has raised £600,000 at 25 pence per share, the proceeds of which will be used to assess acquisition opportunities in line with the Company's stated goal to expand its asset base.\n \n Highlights:\n- Two new anomalies identified by the geophysics analysis on Molulu project\n- Road rehabilitation is complete and bridge building has begun\n- High grade sulphide open pits begin draining\n- Drilling to begin in mid-June\n- Additional geologist hired for the creation of the Molulu JORC report \n- Raised £600,000 at 25p per share, a 4.2% premium to the share price closing price yesterday\n- Funds to advance M&A due diligence on potential new acquisition opportunities\n \nMolulu Project Groundwork Update\n \nFurther to the announcement of 15 May 2023, the Molulu Project has three areas where mapping and geophysics analysis has been comp...