Shares in Corcel PLC (LSE:CRCL) gained over 13% following the release of the company's forward work program and revised strategy.
The UK-based natural resource exploration and development firm said it has successfully restructured its corporate debt and disposed of its UK assets.
Corcel is now positioned as a carried non-operator miner across multiple mineral exploration projects in its growing battery metals upstream portfolio, with a focus on copper, nickel, lithium and other key battery metals. It is also broadening its strategy to include oil and gas alongside mining.
The company plans to expand into Brazil, where it is at an advanced stage of "multiple transactions" across both mining and oil and gas.
The firm is also exploring potentially transformational opportunities in other sectors, although it cautioned that there can be no certainty at this point that a deal will come off.
At 9.30 am, Corcel's shares were 13.46% higher at 0.30p.