REG - Caspian Sunrise plc - Acquisition of Tau-Cen

Caspian SunriseAnnouncement

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RNS Number : 3555M  Caspian Sunrise plc  22 December 2025

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. The information
is disclosed in accordance with the Company's obligations under Article 17 of
the UK MAR. Upon the publication of this announcement, this inside information
is now considered to be in the public domain.

 

 

Caspian Sunrise PLC

("Caspian Sunrise" or the "Company" and together with its subsidiaries, the
"Group")

 

Acquisition of Tau-Cen

 

Introduction

The Board of Caspian Sunrise is pleased to announce the acquisition of Tau-Cen
LLP, (Tau-Cen) a Kazakh registered limited liability partnership, which
represents the Group's first non oil and gas minerals investment.

 

The principal minerals of interest at Tau-Cen are titanium, zirconium and
gold.  Additionally,

rare earth elements (REE) are bound within the zirconium concentrate in
associated monazite and xenotime.

 

Background

The Tau-Cen asset is located in the Pavlodar region approximately 110 km from
the city of Ekibastuz, in northeast Kazakhstan, an industrially developed area
with established mining, metallurgical, and chemical industries.

 

History

The Tau-Cen asset was first explored during the Soviet era when more than 180
drill holes were drilled with an average depth of 7 meters and a maximum depth
of 20 meters where an average thickness of 2.6 meters of mineral enrichment
was found. At that time beryllium and the rare earth metals scandium were also
detected.

 

Principal mineral targets

Tau-Cen management will target titanium oxide, zirconium (and associated REE)
and gold deposits.

 

Rare earth metals

Rare earth metals are bound within the zirconium concentrate and are
associated with inclusions of monazite and xenotime.

 

The concentration of total rare metals in the zirconium concentrate is 0.4%.
The monazite contains the following distribution of rare earth elements:
Lanthanum oxide 19%, Praseodymium 2.65%, Neodymium 11%, Samarium 1.74%,
Europium 0.2%, Gadolinium 1.33%, Yttrium 2%.  These will all be confirmed by
the follow-up exploration plan over the next few years.

 

Licence and current work programme

The Tau-Cen licences extend over an area of 235.8 sq km with a total of 85
separate blocks covered by two separate six year exploration licences running
until 2031.

 

An exploration work plan has been approved with the Kazakh authorities with
topographic surveys and magnetic exploration underway.

 

Acquisition terms

The purchase consideration as set out in the Acquisition Agreement is $0.7
million comprising $0.35 million to be paid in cash and $0.35 million to be
satisfied by the issue of 5,223,881 Caspian Sunrise shares at 5p per share
(Acquisition Shares) to Amirbek Oraziman who is a member of the Oraziman
Family Concert Party.

 

The shares in Tau-Cen are being acquired debt free.

 

Tau-Cen had a loss of approximately £9,000 in the last 12 months.

 

Completion of the Acquisition is subject to customary Kazakh regulatory
approvals.

 

Concert Party Shareholdings following completion of the Acquisition

Before the issue of the Acquisition Shares the Company has  2,356,306,042
shares in issue, with the Oraziman Family Concert Party holding, in aggregate,
1,190,395,878 shares representing 50.52% of the shares currently in issue.

 

Following the issue of the Acquisition Shares the enlarged issue share capital
will increase to 2,460,736,272 shares with the Oraziman Family Concert Party
holding, in aggregate 1,195,619,759 shares representing 50.63% of the shares
then in issue.

The above numbers do not include any additional shares to be issued in
connection with the West Shalva Contract Area, which are dependent upon first
oil at that Contract Area.

Comments

 

Clive Carver, Chairman said

 

"Tau-Cen is the Group's first move into the commercially attractive minerals
sector.

 

The acquisition provides the Group with strong potential upside with each of
the  titanium, zirconium and gold targets for minimal cost. The rare earth
potential is further plus"

 

Contacts:

 

 Zeus            +44 (0) 203 829 5000

  James Joyce

   James Bavister

   Andrew de Andrade

 

This announcement has been posted to:

www.caspiansunrise.com/investors (http://www.caspiansunrise.com/investors)

 

The person responsible for arranging the release of this announcement on
behalf of the Company is Clive Carver, Chairman of the Company.

 

This announcement has been posted to:

www.caspiansunrise.com/investors (http://www.caspiansunrise.com/investors)

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