EV Metals Strategic Alliance and Portfolio Update

RNS Number : 8771R

Caerus Mineral Resources PLC

08 July 2022

 

08 July 2022

Caerus Mineral Resources PLC

('Caerus' or the 'Company')

Update on Strategic Alliance with EV Metals Group and portfolio review

Caerus Mineral Resources (CMRS) plc, the Cyprus-based exploration and resource development company focused on developing copper-gold mineral resources to support the global "Clean Energy" initiative, provides the following update on its strategic alliance with EV Metals Group ("EVM"). 

As previously announced, the alliance is focused on enabling EVM to comply with the "Rules of Origin" (RoO) for electric automotive products under the EU-UK Trade and Co-operation Agreement (TCA) so that they qualify to be tariff and quota-free. Automotive products covered by the TCA include lithium, copper, cobalt, nickel, other metals and industrial minerals. The alliance is underpinned by Caerus's focus on developing copper resources that will enable EVM to comply with RoO and TCA regulations.

As announced, as part of the alliance, Caerus is also the preferred vehicle by which EVM will further its ambitions in the European raw materials market via acquiring advanced mining and production projects. These projects will guarantee EVM surety of supply and ongoing compliance with RoO and TCA. In this context, the Company announces it is reviewing a number of exciting investment opportunities and is in early-stage discussions with [several] potential targets that offer exposure to key clean energy commodities. Whilst discussions are ongoing, there can be no certainty that these transactions will complete. 

Following his appointment in May 2022, Executive Chairman Chris Lambert along with CEO Charles Long will now undertake a strategic review of Caerus' existing asset portfolio. The review will evaluate whether the Company's existing Cypriot assets have the appropriate characteristics and opportunity to generate long-term shareholder value as stand-alone development projects and in the context of their ability to meet EVM's significant resource demand.  

The Company will announce the findings of the strategic review later this year.

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

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

Caerus Mineral Resources  (LON: CMRS) , the Cyprus-based exploration and resource development company focused on developing copper-gold mineral resources to support the global "Clean Energy" initiative,  advises of changes to the Board of Directors and updates shareholders on the Company's business plan.

 

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