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Technology Minerals PLC ( (GB:TM1) ) has issued an update.
Technology Minerals Plc has announced that Century Cobalt Limited, a company closely associated with its CEO Alex Stanbury, has sold 60 million ordinary shares to an institutional investor. This transaction, valued at £0.0025 per share, leaves Century Cobalt Limited with a 21.2% stake in Technology Minerals. The sale is intended to enable Century Cobalt to finance potential future loans to Technology Minerals or its associated companies. This move could impact the company’s financial strategy and stakeholder relationships, given the significant shareholding of Century Cobalt and its close association with the company’s leadership.
More about Technology Minerals PLC
Technology Minerals Plc is a UK-based company pioneering the establishment of a circular economy for battery metals. The company focuses on recycling, recovering, and reusing battery technologies using cutting-edge technology to support a renewable energy future. Additionally, Technology Minerals is engaged in the exploration of raw materials necessary for Li-ion batteries and addresses ecological challenges by recycling spent Li-ion batteries for reuse by manufacturers.
YTD Price Performance: -86.90%
Average Trading Volume: 33,315,630
Technical Sentiment Consensus Rating: Hold
Current Market Cap: £3.43M
Learn more about TM1 stock on TipRanks’ Stock Analysis page.
