Critical Metals PLC (LSE:CRTM) posted a loss of £662,000 for the year to 30 June 2022.
Cash at the period end stood at £824,000.
During the year, the company completed the acquisition of a 57% stake in Madini Occidental Limited, which holds an indirect 70% interest in the Molulu copper/cobalt project in the Democratic Republic of Congo.
Critical Metals also carried out a £1.8mln fundraise in conjunction with the acquisition.
Mine development is now underway, with production expected to commence by the end of the calendar year, generating near-term free cashflow going forward.