Critical Metals PLC (LSE:CRTM) booked a loss of just under £285,000 during the six months to December 2021.
During the period, the company made progress with an agreement to acquire a controlling stake in the Molulu copper-cobalt project in the Democratic Republic of Congo.
Separately, the company continued to investigate other potential acquisition opportunities across a variety of jurisdictions and commodities.
Once completed, the Molulu project deal is expected to deliver near-term cash flows to support future acquisitive growth.
“With copper currently around the US$10,000 per tonne mark and cobalt around US$80,000, we believe now is an optimal time to acquire such an asset in a mineral-rich location,” said chief executive Russell Fryer.