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LONDON - Critical Mineral Resources PLC (CMRS) has signed a formal joint venture agreement for the Agadir Melloul copper project located in Morocco’s Western Anti Atlas region, according to a company press release statement.
The agreement, finalized on May 23, 2025, marks a significant development for the exploration company. During the first half of 2025, Critical Mineral Resources advanced £1.1 million to Agamel Minerals SARL to fund drilling, exploration, technical work, and permit acquisitions in Morocco.
The company secured £2.2 million in funding during the six-month period ending June 30, comprising £825,000 in equity and £1.4 million from Convertible Loan Notes. The financing followed approximately three months of technical and corporate due diligence, including a site visit by an independent mining consultant.
Russell Tucker joined the company’s Board as a non-Executive Director on May 23, 2025, coinciding with the joint venture agreement signing.
The company reports that drilling operations are currently underway at the project site, with first assay results expected to be published in October 2025. The drilling program is part of the company’s exploration activities focused on critical metals and minerals in Morocco.
Critical Mineral Resources stated that the joint venture agreement and secured financing represent important milestones for the company’s development plans in the region.
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