Critical Metals advances with due diligence on Molulu

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(, ) has engaged key advisers and set due diligence work in train in regard to its proposed acquisition of a majority stake in Mauritius-based Madini Occidental Ltd, the 70% shareholder of Miniere Molulu in the Democratic Republic of the Congo. The initial deal was announced on 20 May 2021. Application for readmission for the company’s shares to trading on the Standard List, including the preparation of a prospectus, is underway. A competent persons report has been prepared in respect of the Molulu project and the audit and conversion of the Madini Occidental Ltd accounts into an IFRS-compliant format is progressing. It is expected that a draft prospectus will be submitted to the FCA for review in the coming weeks. Meanwhile, Critical Metals continues to assess further potential acquisition opportunities in the copper-cobalt, tantalum-tin, vanadium-titanium and tantalum-niobium sectors in line with its stated strategy.   Source link
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