REG - Capital Metals PLC - Result of AGM

Capital MetalsAnnouncement

30/09/2022 14:00

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RNS Number : 3957B  Capital Metals PLC  30 September 2022

30 September 2022

Capital Metals plc

("Capital Metals" or the "Company")

Result of Annual General Meeting

Capital Metals (AIM: CMET), a mineral sands company approaching mine
development stage at the Eastern Minerals project in Sri Lanka (the
"Project"), announces that at the Annual General Meeting ("AGM") held earlier
today all the resolutions put to the meeting were duly approved by
shareholders.

 

     Ordinary Resolutions                                                           FOR         AGAINST  WITHHELD
 1.  To re-elect Mr Teh Kwan Wey as a director of the Company.                      57,786,839  25,908   0

 2.  To appoint PKF Littlejohn LLP as auditors.                                     57,786,840  25,907   0
 3.  To grant the directors with authority to allot shares pursuant to Section 551  57,786,839  25,908   0
     of the Companies Act 2006.
     Special Resolution
 4.  To dis-apply pre-emption rights pursuant to Section 570 of the Companies Act   57,786,089  25,908   0
     2006.

 

For further information, please visit www.capitalmetals.com or contact:

 Capital Metals plc                           Via Vigo Consulting

 Michael Frayne (CEO)

 James Mahony (CFO)
 Vigo Consulting (Investor Relations)         +44 (0)20 7390 0234

 Ben Simons / Peter Jacob                     capitalmetals@vigoconsulting.com
 SPARK Advisory Partners (Nominated Adviser)  +44 (0)20 3368 3554

 Neil Baldwin / James Keeshan
 WH Ireland Limited (Joint Broker)            +44 (0)20 7220 1666

 Harry Ansell / Katy Mitchell
 Tavira Financial (Joint Broker)              +44 (0)20 7100 5100

 Jonathan Evans / Oliver Stansfield

 

About Capital Metals

Capital Metals is developing the Eastern Minerals Project in Sri Lanka,
approximately 220km east of Colombo. The Project is one of the highest-grade
mineral sands projects globally, with a current JORC Resource of 17.2Mt with
an average grade of 17.6% Total Heavy Minerals, and potential for significant
resource extension. In May 2022, a third-party Preliminary Economic Assessment
("PEA") provided an NPV for the Project of US$155-235M based on existing
resources, with further identified optimisation potential. The PEA outlined an
attractive low funding requirement of US$37.3M, with expansions funded through
cashflows from the Project, which is forecast to deliver US$645M of revenue
and net operating cashflows of US$391M.

 

CMET's goal is to become a high margin producer of mineral sands for the
international market, with a commitment to applying best-in-class mining
practices and bringing significant positive benefits to Sri Lanka and the
local community.  We expect over 300 direct new jobs to be created and over
US$100m in direct government royalties and taxes to be paid.

 

For more information, visit our website www.capitalmetals.com
(http://www.capitalmetals.com) and follow us on social media:

LinkedIn: https://www.linkedin.com/company/capitalmetals/
(https://www.linkedin.com/company/capitalmetals/)

Twitter: https://twitter.com/MetalsCapital (https://twitter.com/MetalsCapital)

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