Critical Metals Plc (LON:CRTM) chief executive Russell Fryer told investors he is very excited about what 2021 will bring for the company as his team continues to evaluate a shortlist of project acquisition opportunities.
It could be a year of significant growth for the company, Fryer highlighted in a year-end update.
In September, the company listed in London. At that time, it had around 16 possible investment opportunities and has since whittled down the pipeline.
“We finished the year having narrowed down this search to a very small number of targets that meet our stringent investment criteria and preliminary discussions continue with these possible targets,” Fryer said in the statement.
“Looking forward to the year ahead, we are committed to rigorously evaluating this targeted list of potential opportunities to ensure that we secure and execute the right initial transaction and build value for shareholders, and I look forward to providing further updates as we advance this process,” he added.
In line with the company’s strategy, the opportunities are targeted in critical minerals such as antimony, beryllium, cobalt, copper, fluorspar, gold, rare earth elements, tin, tungsten and vanadium.
These commodities are in demand, which has grown significantly amidst new technology and electric vehicles.
Fryer said that “the on-going trade war between the USA and China has been instrumental in highlighting the importance of thinking strategically about critical minerals to ensure a stable supply of metals that will allow economies to operate and grow and avoid being at the mercy of foreign competitors.”
“For example, China dominates current production of rare earth minerals. This increasing uncertainty regarding the supply and demand in the critical metals sector is the key driver behind our company strategy, as the need to invest in a stable supply becomes increasingly apparent,” he concluded.