Corcel Plc (LON:CRCL), in its interim results statement, told investors that its business is now extremely well placed to take advantage of the growing trends underpinning the world's transition to a low carbon economy.
The company holds interests in mineral exploration projects associated with battery technologies along with energy generation and storage in the United Kingdom.
During the year, the 41% owned Mambare nickel-cobalt asset in Papua New Guinea continued to advance and is being steered through the permitting process. At the same time, the Corcel portfolio was bolstered with the further exposure to the Wowo Gap nickel-cobalt project via debt investments.
In Canada, the Dempster Vanadium project saw a successful exploration programme, with most recent results highlighting “exceptionally good” rock and soil samples. A drill programme is slated for later in 2021.
Corcel noted that it continues to explore further acquisitions in the battery metals space.
The UK energy business, meanwhile, comprises projects that are being progressed so that they become “shovel ready” by the summer.
Executive chairman James Parsons, in the statement, said: “The board and I want to thank our shareholders for their support during 2020, which we know has not always been easy given global events and the short-term challenges the company has had to endure in order to build firm foundations for the future.
“We believe Corcel is now extremely well placed to take advantage of the growing trends underpinning the world's transition to a low carbon economy, including multiple approaching material inflexion points.”
The pre-revenue company reported a £526,000 loss for the six months ended December 31 2020.