Capital Metals plc (GB:CMET) has released an update.
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Capital Metals PLC is on the verge of securing a deal where Sheffield Resources Limited will obtain a 50% stake in the high-grade Eastern Minerals Project in Sri Lanka, in exchange for providing the necessary development capital. The company, listed on the AIM market of the London Stock Exchange, is developing one of the world’s highest-grade mineral sands projects, which is expected to bring significant economic benefits to Sri Lanka, including over 300 new jobs and substantial government revenues. The finalization and signing of the legal agreements, along with requisite approvals, are anticipated soon, at which point further details will be disclosed.
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