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DeepRock Minerals, Inc. ( (TSE:DEEP) ) has issued an update.
DeepRock Minerals Inc. has received final approval from the Supreme Court of British Columbia for its plan of arrangement with Allied Critical Metals Corp (ACM), which involves a spin-off of its assets and a reverse takeover by ACM. This strategic move aims to strengthen DeepRock’s market position by aligning with ACM’s operations. Additionally, ACM has entered a letter of intent with Global Tungsten & Powders LLC for the supply of tungsten concentrate from its Vila Verde project in Portugal, highlighting its significant potential as a near-term tungsten source in the western world. The agreement underscores ACM’s growing influence in the critical minerals market, particularly in supplying the United States, and marks a crucial step in expanding their business operations.
More about DeepRock Minerals, Inc.
DeepRock Minerals Inc. is engaged in the critical minerals sector, focusing primarily on extraction and supply of essential resources. Their operations are particularly centered around strategic mineral assets, such as tungsten, which are pivotal for various industrial and geopolitical applications.
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$493.5K
Learn more about DEEP stock on TipRanks’ Stock Analysis page.
