REG-Critical Mineral Resources Plc: Equity Fundraise

Critical Mineral ResourcesAnnouncement

22/01/2026 07:02

22 January 2026

 

 

 

Critical Mineral Resources Plc

2026 Resource Drilling Plan and Placing

 

Critical Mineral Resources plc (“CMR”, “Company”), which has a
diversified portfolio of high-quality development and exploration projects in
Morocco, is pleased to announce the successful completion of a heavily
oversubscribed fundraise completed by Shard Capital Partners, raising gross
proceeds of £2.925 million before costs. The capital will enable CMR to
accelerate its near-term resource drilling plans, enhancing the value of its
portfolio.

The fundraise is subject to the approval of a prospectus by the Financial
Conduct Authority. The Company is pleased to report that it is in the final
stages of obtaining approval of a prospectus. Once approval has been obtained,
the Company will make an application                     for the new ordinary
shares issued in relation to the fundraise to be admitted to trading on the
Main Market of the London Stock Exchange which is expected to be on or around
29 January 2026.

 

PLACING OF NEW SHARES

The company announces:
*            Placing of 108,888,885 new ordinary shares in the capital of the
Company at 2.25p per share, raising gross proceeds of £2.45m.          
*            Subscription of 21,111,110 new ordinary shares in the capital of
the Company at 2.25p per share, raising gross proceeds of £0.475m including
continued support of our strategic major shareholder.          
*            Grant of Placing Warrants for all subscribers in the fundraising
on a 1 for 1 basis, exercisable at 4.5p per share.          
*            Shard Capital Partners appointed as joint broker to the Company.
 

USE OF FUNDS AND FAST TRACK DEVELOPMENT

Proceeds from the Fundraising will be used to accelerate the Company’s
near-term value catalysts, with a focus on resource definition and portfolio
enhancement:
*            Continued resource drilling on near-surface mineralisation
identified at Zones 1 and 2 at the Company’s flagship copper project at
Agadir Melloul, supporting rapid progression towards a maiden mineral resource
estimate.          
*            Deployment of both the                       Company’s        
              diamond drill rig and a contractor drill rig, targeting
approximately                       1,000 metres per month                  
    of drilling and enabling increased operational momentum.          
*            The programme is designed to deliver the project’s first JORC
compliant mineral resource estimate                       by early Q3 2026.  
       
*            In parallel, CMR is evaluating several value-accretive
acquisition opportunities in Morocco, including potential additions of assets
during H1 2026, intended to further advance the Company’s stated growth
strategy.
 

ABOUT AGADIR MELLOUL

The Project exhibits characteristics consistent with a potentially low-capex
development pathway with meaningful exploration upside:
*            A shallow, near-surface tabular copper deposit that offers low
capex and a rapid development path. Its geometry is suitable for open-pit
operations, enabling our investors to benefit from the favourable economics of
surface assets while capitalising on scale potential.          
*            Less than 1% of the project area drilled. Ongoing mapping
confirms a district wide mineralised envelope, consistent with our 25 million
tonne Initial Exploration Target with an equivalent grade of 1.2% copper.     
     
*            The existence of potential economic grades of gold and silver
within the permits, providing shareholders with additional upside potential.  
       
*            The rhyolite copper-silver discovery, a second style of
mineralisation which has potential to become a new project alongside the
existing sedimentary copper target.          
*            Agadir Melloul is proximal to the Tizert Project (resource of
130Mt grading 0.9% copper) and shares the same geology and style of copper
mineralisation.          
*            The Project has benefited from systematic work programmes
including drilling, mapping, trenching, channel sampling and initial
metallurgical testwork, progressing it materially along the development curve.
         
*            Metallurgical testwork returned recoveries of 80.1% and 61.3% for
copper and silver respectively.          
*            Initial drill results include: 5.8m at 1.12% copper and 19g/t
silver, 6.5m at 1.03% copper 4.7m at 1.48% copper, 4.7m at 1.03% copper, 6.0m
at 1.4% copper and 31g/t silver, 10.0m at 1.1% copper and 20g/t silver and
0.12g/t, 1.0m at 2.5g/t gold from 5.0m, 1.0m at 1.05g/t gold, 0.8m at 1.67g/t
gold.
 

Fig.1                                                                Zone 1
North, long section showing shallow undulating mineralisation



   

Source: Company

 

Charlie Long CEO commented:

“We are grateful for the support from both new and existing shareholders of
CMR whom have shown their conviction in our strategy and the value creation
pathway we are executing. The fundraising enables the company to materially
accelerate drilling to more than 1,000 meters per month to test and expand the
near surface mineralisation discovered at Agadir Melloul. We expect to
complete approximately 20 drill holes per month, with results aimed at
delineating a maiden JORC-compliant resource within approximately six
months”

 

ENDS

 

 Critical Mineral Resources plc  Charles Long,  Chief Executive Officer         info@cmrplc.com                                   
 Shard Capital LLP   Erik Woolgar  Damon Heath      AlbR Capital   Jon Belliss  +44 (0) 207 186 9952        +44 (0) 20 7399 9425  

 

 

Notes To Editors

Critical Mineral Resources (CMR) PLC is an exploration and development company
focused on developing assets that produce critical minerals for the global
economy, including those essential for electrification and the clean energy
revolution. Many of these commodities are widely recognised as being at the
start of a supply and demand super cycle.

CMR is building a diversified portfolio of high-quality metals exploration and
development projects in Morocco, focusing on copper, silver and potentially
other critical minerals and metals. CMR identified Morocco as an ideal
mining-friendly jurisdiction that meets its acquisition and operational
criteria. The country is perfectly located to supply raw materials to Europe
and possesses excellent prospective geology, good infrastructure and
attractive permitting, tax and royalty conditions. In 2023, the Company
acquired an 80% stake in leading Moroccan exploration and geological services
company Atlantic Research Minerals SARL.

The Company is listed on the London Stock Exchange (CMRS.L). More information
regarding the Company can be found at                      www.cmrplc.com     
                         

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