Citius Resources PLC ( (GB:CRES) ) has shared an update.
Citius Resources PLC has announced the approval and publication of a prospectus by the Financial Conduct Authority for the reverse takeover of Harena Resources Ltd and a fundraising initiative to raise £1.35 million. Harena Resources owns a significant stake in the Ampasindava Rare Earths Project in Madagascar, which contains a large deposit of rare earth oxides. This acquisition positions Citius Resources to further explore and potentially produce these critical minerals, enhancing its market position in the green energy sector. The completion of this acquisition is contingent on shareholder approval at the upcoming annual general meeting, with the company planning to list new shares on the London Stock Exchange.
More about Citius Resources PLC
Citius Resources PLC operates in the resources sector, focusing on the acquisition and development of mineral projects. The company is involved in the exploration and potential production of rare earth elements, which are essential for the manufacturing of permanent magnets crucial to green energy transitions.
Average Trading Volume: 86,923
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £1.3M
For detailed information about CRES stock, go to TipRanks’ Stock Analysis page.