REG - Capital Metals PLC - Result of Meeting

Capital MetalsAnnouncement

28/10/2022 12:15

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RNS Number : 5192E  Capital Metals PLC  28 October 2022

28 October 2022

Capital Metals plc

("Capital Metals" or the "Company")

Result of General Meeting

Capital Metals (AIM: CMET), a mineral sands company approaching mine
development stage at the Eastern Minerals project in Sri Lanka, announces that
at the General Meeting ("GM") held earlier today the resolution put to the
meeting was duly approved by shareholders:

     Ordinary Resolutions                                                             FOR         AGAINST  WITHHELD
 1.  To receive and consider the audited Statement of Accounts and the Reports of     24,669,564  0        2,740
     the Directors and the Auditor of the Company for the year ended 31 March 2022.

 

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 (the
"Project"), 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
expansion funded through cashflows from the Project, which is forecast to
deliver US$645M of revenue and net operating cashflows of US$391M.

 

Capital Metals' 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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