Business
First Day of Dealings
First Day of Dealings.
About this update from Harena Rare Earths Plc
[{"type":"text","content":"\n\n \n21 March 2025\n \n \nCitius Resources plc (to be re-named Harena Resources plc)\n \n(\"Harena\" or the \"Company\")\n \nCompletion of acquisition of Harena Resources Limited\nand\nenlarged share capital admitted to trading on the Official List and the Main Market of the London Stock Exchange\n \n \nCitius Resources plc is pleased to announce the completion of its acquisition of Harena Resources Limited and the admission of its enlarged share capital of 413,884,352 ordinary shares of 0.5 pence each (\"Ordinary Shares\") at an issue price of 3 pence each (\"Issue Price\") to trading on the Equity Shares (transition) category of the Official List and the Main Market of the London Stock Exchange from 8:00 a.m. on 21 March 2025 (\"Admission\").\n \nThe Company will change its name to Harena Resources Plc once processed by Companies House and the TIDM code \"HREE\" will be effective immediately.\n \nTavira Financial Ltd is acting as Financial Adviser and Broker to the Company.\n \nThe Ampasindava Rare Earth Project\n \nHarena Resources owns 75% of the Ampasindava Ionic Clay Rare Earth Project (\"Project\"), one of the largest ionic clay rare earth deposits outside China. With a JORC 2012 compliant 698Mt resource grading 0.087% TREO, it is rich in Neodymium (Nd), Praseodymium (Pr), Dysprosium (Dy), and Terbium (Tb)-critical for military, AI, and clean energy applications.\n \nAdmission Highlights\n \n· Admission to LSE: The Company commences trading under the ticker HREE.\n· Total fundraising of ~£1.38m: comprising £0.6 million raised at 3p per share and a further and A$1.5m loan notes (£780,000) to fund the Feasibility Study (\"FS\"), Environmental Impact Social Assessment (\"EISA\") and general working capital.\n· Market Capitalisation on Admission £12.4 million.\n· Politically Neutral Rare Earth Supply: The Project is located outside of China's rare earth dominance, having the potential to provide Western markets with a secure and independent source of critical materials.\n· Strategic Focus on Defence & Robotics: The project hosts high-value magnet metals essential for next-generation military technology, including:\n \n·&nbs...