3 Companies Rising on Good News for Tuesday 9th May 2023
Episode 1405, May 09, 2023, 09:32 AM
3 Companies Rising on Good News for Tuesday 9th May 2023
1. Capital Metals #CMET - Offtake MoU Signed
Capital Metals a mineral sands company approaching mine development stage at the high-grade Eastern Minerals Project in Sri Lanka, is pleased to announce that the Company has signed a Memorandum of Understanding with LB Group (002601:SHENZHEN; Market Cap: US$5.9 billion), the world's leading manufacturer of high-performance titanium dioxide pigments and sponge, to fund the Project into production.
LB Group to fully fund the Project as defined by the IHC Mining independent Development Study Report and Preliminary Economic Assessment announced in May 2022 (“PEA"), which is estimated to cost US$81 million. The JV will fund any expansion of the Project beyond the PEA parameters on a 50/50 basis.
2. Rainbow Rare Earths #RBW - Private placement raises £7.52 million
Rainbow Rare Earths is pleased to announce that it has agreed conditionally to issue 72,452,846 new shares in the Company at a price of 10.377p raising gross proceeds of £7.52 million.
The Placing Price represents a 28.1% premium to the closing share price of 8.1p on 5 May 2023 when the Placing Price was agreed.
£5.54 million was received from existing shareholder TechMet Limited, the private investment company developing world class projects across the critical metals that form the key building blocks for the global energy transition;
3. Tirupati Graphite #TGR - Unaudited Trading Results
Tirupati Graphite the specialist graphite and graphene company developing sustainable new age materials, is pleased to announce its Unaudited Trading Results for the financial year ended 31 March 2023 ("FY23").
Highlights
· Gross profit for FY23 increased 170% Year on Year to £1,372,048 (FY22: £508,112)
· Total production increased by 59% YoY to 4,770 tons (FY22: 2,996 tons)
· Total Sales increased by 76% YoY to £2,890,010 (FY22: £1,645,308)
· Basket price realised per ton of graphite sold increased by 17% to £726 (FY22: £618)
1. Capital Metals #CMET - Offtake MoU Signed
Capital Metals a mineral sands company approaching mine development stage at the high-grade Eastern Minerals Project in Sri Lanka, is pleased to announce that the Company has signed a Memorandum of Understanding with LB Group (002601:SHENZHEN; Market Cap: US$5.9 billion), the world's leading manufacturer of high-performance titanium dioxide pigments and sponge, to fund the Project into production.
LB Group to fully fund the Project as defined by the IHC Mining independent Development Study Report and Preliminary Economic Assessment announced in May 2022 (“PEA"), which is estimated to cost US$81 million. The JV will fund any expansion of the Project beyond the PEA parameters on a 50/50 basis.
2. Rainbow Rare Earths #RBW - Private placement raises £7.52 million
Rainbow Rare Earths is pleased to announce that it has agreed conditionally to issue 72,452,846 new shares in the Company at a price of 10.377p raising gross proceeds of £7.52 million.
The Placing Price represents a 28.1% premium to the closing share price of 8.1p on 5 May 2023 when the Placing Price was agreed.
£5.54 million was received from existing shareholder TechMet Limited, the private investment company developing world class projects across the critical metals that form the key building blocks for the global energy transition;
3. Tirupati Graphite #TGR - Unaudited Trading Results
Tirupati Graphite the specialist graphite and graphene company developing sustainable new age materials, is pleased to announce its Unaudited Trading Results for the financial year ended 31 March 2023 ("FY23").
Highlights
· Gross profit for FY23 increased 170% Year on Year to £1,372,048 (FY22: £508,112)
· Total production increased by 59% YoY to 4,770 tons (FY22: 2,996 tons)
· Total Sales increased by 76% YoY to £2,890,010 (FY22: £1,645,308)
· Basket price realised per ton of graphite sold increased by 17% to £726 (FY22: £618)