Critical Metals Plc (LON:CRTM) said it has “narrowed down its search” to a smaller number of potential acquisition targets that it believes have the potential to produce a combination of cobalt, copper, niobium, tantalum, titanium, or vanadium as the group reported its first financial results as a public listed company.
In a statement accompanying its results for the year to June 30, 2020, the chairman of the mining investment firm Russell S. Fryer said preliminary discussions are ongoing with a number of “exciting opportunities” and the company will provide updates on any material developments.
READ: Critical Metals hits the ground running, with deals in the offing and promises of a dividend within three years
“Looking forward, I am very excited about what 2021 might hold for Critical Metals and hope that it will be a year of significant growth for the company as we look to advance our strategy and build value for shareholders”, Fryer said.
Looking to its numbers for the year, the pre-revenue company reported a pre-tax loss on ordinary activities of £98,293 compared to a £73,234 loss in the prior year, while it ended the year with a cash balance of £62,072, up from £52,468 in 2019.