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Critical Mineral Resources PLC on Monday said it has signed a £2.5 million financing agreement with Gilini Holdings Ltd, strengthening its position as it expands its operations in Morocco. The exploration and development company focused on clean energy metals in Morocco said the funding will support project acquisitions, the expansion of its commodities trading venture, and general working capital. The financing will be structured in multiple tranches, with £425,000 already received via convertible loan notes maturing in December 2028, carrying an interest rate of 15% per year and convertible at 1.1 pence per share. The CLNs also include warrants exercisable at 1.3p per share. The next tranche, expected in the second quarter of 2025, will amount to £1.33 million, comprising an equity subscription at 1.45p per share and an additional £500,000 convertible loan at the same price with 5% interest. A third tranche of £750,000 is planned for the first quarter of 2026, with shares priced at 1.53p. The second and third tranches of financing are conditional on CMR finalising agreements for copper or manganese development projects in Morocco. The investor has the option to accelerate funding based on the company‘s capital needs. CMR Chief Executive Officer Charlie Long welcomed the investment, stating: ‘We are very pleased to have secured this strategic investment which will allow CMR to deliver an exciting business development story throughout the remainder of 2025 and beyond. ‘The main challenge for junior mining companies is securing sufficient finance to fund exploration and development work, whether on their own assets or as part of an earn-in. CMR is now in the excellent position of being well-financed, enabling it to focus on creating value in Morocco and executing on some extremely exciting opportunities’. Russell Tucker, from Gilini Investment, added: ‘We are thrilled to support CMR as we see immense untapped potential in Morocco, particularly for copper. Following thorough due diligence, we have full confidence in CMR’s leadership to unlock this opportunity.’ CMR also confirmed amendments to its 2024 convertible loan notes, increasing the interest rate to 15% and extending the redemption date to December 2025. Shares in Critical Mineral Resources were down 3.5% at 1.25 pence in London on Monday afternoon. Copyright 2025 Alliance News Ltd. All Rights reserved.
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