Critical Mineral Resources PLC (LSE:CMRS) has secured a £2.5 million investment from Gilini Holdings Ltd to fund its activities in Morocco.
Proceeds will aid the company in making new acquisitions and support its commodity trading activities.
It receives an initial £425,000 through convertible loan notes (CLNs), followed by a £825,000 equity issue at a premium price of 1.45p per share and a further £500,000 convertible loan (5% interest), expected in the second quarter.
Later, in the first quarter of 2026, there’s a further £750,000 equity raise envisaged, at 1.53p per share.
The funding is contingent on CMR securing new development projects in Morocco, likely focused on copper or manganese.
"We are very pleased to have secured this strategic investment which will allow CMR to deliver an exciting business development story throughout the remainder of 2025 and beyond,” chief executive Charlie Long said in a statement.
“The main challenge for junior mining companies is securing sufficient finance to fund exploration and development work, whether on their own assets or as part of an earn-in.”
He added: “CMR is now in the excellent position of being well-financed, enabling it to focus on creating value in Morocco and executing on some extremely exciting opportunities."
In London, CMR shares initially started Monday strongly trading up to 1.38p, though softened to 1.22p after an hour of trading.