Admission to trading on the London Stock Exchange

RNS Number : 7863S

Caerus Mineral Resources PLC

19 March 2021

 

19 March 2021

Caerus Mineral Resources Plc

("Caerus" or the "Company") (Ticker: CMRS)

Admission to the Main Market of London Stock Exchange and First Day of Dealings

Caerus Mineral Resources, the European-focused exploration and development company targeting mineral resources to supply the global Clean Energy Transition , announces its admission to the Main Market of the London Stock Exchange under the Standard Segment of the Official List and will begin trading at 08.00 a.m. on 19 March 2021, under the ticker "LSE:CMRS".

The Company completed a placing of 21,000,000 new Ordinary shares at 10p and further Subscription Agreements for an aggregate 1,500,000 new Ordinary Shares (Subscription Shares) at 10p to raise a cumulative GBP 2,250,000 (before expenses). At listing, the total number of shares will be 22,500,000.

Novum Capital Limited acted as sole Placing agents and broker.

Martyn Churchouse, Chief Executive Officer, said  

"We are delighted to begin trading on the Main Market of the London Stock Exchange today. Caerus has developed a well-balanced portfolio of copper-gold licences, and today's listing and fundraising provide us with the capital and opportunity to fast-track the generation of Mineral Resources, strengthen shareholder value and create near- term cash flow.

"We have an established presence in Cyprus, allowing us to start exploration without any of the usual 'start-up' delays. We firmly believe that our focus on copper is timely, and the Company will benefit from the growing Clean Energy Transition and long-term forecasts for the demand and price of copper as a commodity".

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

Caerus Mineral Resources plc:
Martyn Churchouse Chief Executive Officer	[e-mail] [phone]
Novum Securities
Jon Belliss	[phone]

Follow us on Twitter at @CaerusMineral

About Caerus Mineral Resources plc

Highlights

· Successful Completion of an Oversubscribed Fund-Raise - Placing of 21,000,000 new Ordinary Shares at 10p per share and further Subscription Agreements for an aggregate 1,500,000 new Ordinary Shares (Subscription Shares) at 10p to raise a cumulative GBP 2,250,000 (before expenses).

· High Quality Copper - Gold Brownfield Exploration Portfolio - targeting commercially exploitable copper-gold projects in Cyprus.

· Near-Term Mineral Resource and Cash Generation - near-term Mineral Resource definition from advanced projects together with strong cash flow opportunities through a range of potential resource types associated with a suite of brownfield exploration licences in Cyprus.

· Shareholder Value-focused - Experienced Board and management team focused on streamlining G&A costing to ensure raised capital is used to develop existing and prospective assets.

· Strategic Positioning - focused on developing Mineral Resources in Europe to support the global "Clean Energy" Transition. Copper is one of the few metals required in every type of Clean Energy technology from Wind, Solar and Electric Vehicles to Stationary Battery Storage.

Overview

Caerus Mineral Resources (CMRS) plc was established to focus primarily on developing Mineral Resources in Europe in response to the transition and drive towards Clean Energy economies globally. The current focus of CMRS is on copper-gold opportunities in Cyprus, a region with a long mining history and significant untapped value.

Caerus will commence exploration, targeting brownfield sites within licences that include former producing mines and therefore host rocks and geological structures conducive to mineralisation, together with additional greenfield exploration on recently acquired licences.

Whist the short-term objective is to consolidate the database and generate targets for further evaluation, the medium to long-term goal remains to define a Mineral Resource of between 20Mt and 30Mt at cut-off grades of 1.5% Cu and 1g/t Au.

The Company will focus on a variety of target types:

· Remnant Resources: The Mines Department of Cyprus reports indicate that remnant resources may exist at a number of the former mine sites. The Company will undertake a detailed data review and digitisation programme culminating in a drill programme to delineate Mineral Resources.

· Extensions to Mineralisation: This process will be aided by geophysical surveys and 3-D modelling which is expected to provide indications of strike- and dip extensions to the known orebodies.

· New Targets: Exploration techniques have improved since the last detailed work took place at Kalavasos over 40 years ago. The systematic application of modern exploration tools provides a unique opportunity for the discovery of new mineralisation.

· Dump Assessment and Reclamation: Mineral processing efficiencies and techniques, operating costs and metal prices are some of the inputs that have changed to influence the economics of reprocessing low-grade ore. The Company will re-evaluate dump material, to estimate tonnage and grade prior to economic assessment. The presence of a gold by-product associated with copper mineralisation potentially provides additional value to underpin copper.

Caerus has acquired title over 12 exploration permits that cover 31.42km2 in the former prolific mining districts of Kalavasos, Kambia, Vrechia and Black Pine.

All of the project areas within the NCC Portfolio are considered to be prospective for copper and/or gold (and nickel-cobalt in the case of Black Pine).

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation 9EU) No 596/2014 until the release of this announcement.

 

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