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LONDON - Capital Metals PLC (AIM:CMET), a mineral sands company, announced today that Hannam & Partners, an independent advisory firm, has initiated equity research coverage on the company. The research is aimed at providing qualified investors with insights into Capital Metals’ operations and prospects, particularly focusing on the Taprobane Minerals Project in Sri Lanka.
The Taprobane Minerals Project, located approximately 220km east of Colombo, is approaching the mine development stage and is recognized for containing high-grade industrial minerals such as ilmenite, rutile, zircon, and garnet. According to Capital Metals, the project stands as one of the highest-grade mineral sands projects worldwide.
In 2022, a third-party Preliminary Economic Assessment estimated the Project’s Net Present Value (NPV) to be between US$155 million and US$235 million based on existing resources. There is also potential for further optimization, which could enhance the project’s value.
Capital Metals is committed to modern mining practices and expects to deliver significant benefits to the local community and the broader Sri Lankan economy. The company anticipates the creation of over 300 direct new jobs and projects that it will contribute over US$130 million in direct government royalties and taxes.
Investors interested in the research report by Hannam & Partners can access it by registering on the firm’s research portal. This move to initiate research coverage could provide investors with a deeper understanding of Capital Metals’ value proposition and development plans.
This announcement, disseminated by Reach, a non-regulatory press release distribution service of RNS, part of the London Stock Exchange (LON:LSEG), is based on a press release statement and aims to convey information to the public without regulatory obligations.
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