London-based mining company announces Cyprus expansions.
Austen Shakespeare

'Clean energy' mineral company announces Cyprus expansions and new agreements

A new mineral London-based mineral company has announced its expansion to 16 licenses across Cyprus.

Caerus Mineral Resources has acquired two Cyprus-based mining and mineral companies. Namely Ploutonic Resources Limited and Gold Mines Limited.

Caerus has also announced an agreement with Option Agreements signed with both Jubilee Metals Group PLC (AIM: JBL) (“Jubilee Metals”) and Bezant Resources PLC to, according to Caerus, “accelerate development towards production via joint ventures.”

The company focuses on developing minerals to Europe in order to “support the global ‘Clean Energy’ initiative.”

The company has only been floated on the London stock exchange since March 21 2021 following a £2.2m raise.

Chief executive officer Martyn Churchouse said: “Over the past six month the Company has made considerable progress since our Listing in London, and is well on its way to achieving its strategic objectives.

“Since the signing of the agreement we have and continue to work closely with Jubilee Metals and look forward to the results of on-going metallurgical test work aimed at developing an optimised mineral processing design as we move forward with our projects.

“We recently raised additional funds specifically to provide the necessary means to ensure that new acquisitions can be advanced quickly and brought in-line with the current development status of existing projects.”

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