Critical Minerals (CMR) was marked up 36% as it unveiled the acquisition of 26 new licences in Morocco, adding significant scale to a fast-growing portfolio of assets in the country.
CMR already has interest in the Anzar copper-silver project and the Zagora cobalt project, but the new licences take it into antimony, tungsten, lead-zinc and gold as well.
It should have a good heads-up on what the potential is as one of the vendors of Hesperis, the Moroccan company being acquired to get the licences, is CMR’s chief operating officer Noureddine Sabraoui.
The licences are situated in the Rabat, Beni-Mellal, Agadir and Errachidia administrative regions covering approximately 400 sq km and regions that boast several historical and current mining sites with established road and power infrastructure.
Shares rose 1p to 3.75p.