MetalNRG said its focus going forward will be on copper projects as well as potentially gold and strategic metals, as these are areas that the junior believes will see high demand due to global macroeconomic, energy transition, and technology trends.
Management has reviewed more than 100 projects globally and has now reduced this extensive list to a short list of around 10 projects that MetalNRG is progressing.
These projects include several potential reverse takeover targets, said a statement alongside its annual results.
As a result of the strategic review, MetalNRG has concluded that its partnership with EQTEC and its investment in EQTEC Italia, is non-core and the company will be seeking the most suitable exit from this investment.
Losses for the year to end December 2023 were £1.45 million ( 2022: Loss £2.2 million).