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Critical Mineral Resources shares surge as inks Cyprus assets sale

September 14, 2023 at 06:40 am EDT

(Alliance News) - Critical Mineral Resources PLC on Thursday said it completed its sale of the Cyprus assets to PM Plutonic Metals Ltd and Indo-European Mining PR Ltd.

Critical Mineral Resources shares jumped 57% to 4.51 pence each on Thursday morning in London.

The exploration and development company focused on clean energy commodities said it completed the USD528,001 sale on Wednesday, which was originally planned for completion on June 31.

Executive Chair Chris Lambert said: "This announcement marks an important transition in CMR's development. The completion of the sale of Cyprus assets enables the company to ensure its focus is wholly centred on maximising value from the exciting opportunities it is generating in Morocco."

Critical Minerals Resources is focused on larger upstream development opportunities.

By Tom Budszus, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

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