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Citius Resources PLC ( (GB:HREE) ) has shared an announcement.
Harena Resources Plc announced a £450,000 investment from RAB Capital, increasing RAB’s stake in the company from 4.17% to approximately 9.02%. This funding will support the advancement of the Ampasindava Project, a significant rare earth resource in Madagascar, which is expected to attract global interest due to its strategic importance in supplying critical metals outside of China. The investment is seen as a strong endorsement of Harena’s strategy and enhances the company’s financial security, positioning it to meet the growing demand for rare earth elements crucial for the expanding robotics sector.
Spark’s Take on GB:HREE Stock
According to Spark, TipRanks’ AI Analyst, GB:HREE is a Underperform.
Citius Resources PLC faces critical financial and technical challenges, with no revenue and poor market indicators dominating the outlook. While positive corporate events suggest potential upside, these factors are overshadowed by the company’s ongoing financial distress and negative technical trends.
To see Spark’s full report on GB:HREE stock, click here.
More about Citius Resources PLC
Harena Resources Plc is a rare earths exploration and development company focused on the Ampasindava Ionic Clay Rare Earth Project in Madagascar. The company is dedicated to providing a sustainable supply of critical minerals, particularly heavy rare earths like neodymium, dysprosium, and praseodymium, which are essential for neodymium magnets used in the energy transition, military defense, and robotics sectors.
Average Trading Volume: 1,298,245
Technical Sentiment Signal: Sell
Current Market Cap: £10.41M
See more insights into HREE stock on TipRanks’ Stock Analysis page.