London-listed metals and minerals exploration company Critical Mineral Resources PLC (CMR) has signed an investment agreement with UK investment firm Gilini Holdings for £2.5 million in funding. The money will be used to support the company's efforts in Morocco, according to reports. «CMR is now in the excellent position of being well-financed, enabling it to focus on creating value in Morocco and capitalizing on some exciting opportunities», said CMR CEO Charlie Long on March 10. CMR has already received £425,000 through convertible loan notes (CLNs). A second payment of £1.325 million is expected in the second quarter of 2025, while the third tranche of £750,000 is planned for the first quarter of 2026. CMR's access to additional funding is linked to its commitment to a mining project in Morocco, likely focusing on copper or manganese. «We see immense untapped potential in Morocco, especially for copper. After thorough due diligence, we have full confidence in CMR's leadership to unlock this opportunity. We look forward to working closely with CMR's executive team to maximize success», said Russell Tucker, Gilini advisory board member. It is worth noting that in 2024, CMR acquired 26 exploration permits for copper, antimony, tungsten, lead-zinc, and gold in central Morocco. The deal was made through the acquisition of Moroccan group Hesperis Resources. The exploration licenses cover the Rabat, Beni-Mellal, Agadir, and Errachidia administrative regions.
