African Battery Metals PLC (LON:ABM) has renounced interests in Sierra Leone in order to focus on new projects in Cameroon and Cote d’Ivoire.
The Africa focused resource company aims to explore the key metals used in next generation batteries that fuel the new electric vehicle revolution.
African Battery Metals PLC has decided to relinquish activities in Sierra Leone after having acquired two new nickel and cobalt projects in Cameroon and Cote d’Ivoire. This is also following a review of their assets.
In doing so, the company is able to focus all its resources on developing its portfolio and pinpoint opportunities that matches its investment criteria. This will develop their value and produce a major metals-focused resource company.
New shareholders of African Battery Metals PLC include the highly successful international resource entrepreneurs Stephen Dattels and Ian Stalker. The company’s shareholders have endorsed the strategy of a rapid growth achieved organically and through acquisition. The move from Sierra Leone was prompted by this as well as the exploration license being due for renewal.
Roger Murphy, CEO, has commented: “As our strategy states, we are focused on battery metals. With the acquisition of two highly prospective nickel and cobalt assets which complement our existing DRC cobalt projects, and the Sierra Leone licenses being up for renewal and extensive consultation with our stakeholders, we have elected not to continue with activities in Sierra Leone.”
“We believe that in order to maximise shareholder value we need to focus resources on our core strategy. We have a platform from which to grow, both through the development of our current portfolio and by securing additional highly value accretive acquisitions and in the process deliver a leading battery metals-focused resource company.”
