Corcel (CRCL)

Sector:

Mining

Index:

FTSE AIM All-Share

 0.43p
   
  • Change Today:
      0.000p
  • 52 Week High: 2.00
  • 52 Week Low: 0.38
  • Currency: UK Pounds
  • Shares Issued: 524.88m
  • Volume: 4,487,320
  • Market Cap: £2.23m
  • RiskGrade: 424

Corcel defers grid connection obligations at Burwell

By Josh White

Date: Wednesday 05 May 2021

LONDON (ShareCast) - (Sharecast News) - Battery metals-focussed exploration and development company Corcel updated the market on its operations on Wednesday, reporting progress on the Burwell energy storage project, with grid connection obligations extended to December.
The AIM-traded firm said discussions were underway with the Resource Mining Corporation (RMI) for settlement of its AUD 4.76m (£2.65m) debt position.

It also said the Mambare mining lease application process was continuing at its nickel-cobalt project, while planning for the Dempster vanadium project's 2021 field season was also underway.

"I am happy to report that the company continues to make progress on all fronts, with proposals for the commercialisation of the investment in RMI, in particular, under active discussion," said chief executive officer Scott Kaintz.

"At Burwell, the company has successfully deferred its grid connection obligations, and whilst we do not expect to require this additional period, it gives the team more time to complete the planning application process prior to reaching shovel ready status and ultimately financial close.

"The company is also exploring options to 'right size' the grid connection itself, focusing initially on the 50MW battery storage project which brings meaningful capital cost savings while boosting returns."

Kaintz said flexible energy storage and production remained a "very attractive" sector in the UK for investors, noting the recent successful Mast Energy Developments initial public offering and implied valuation read-across.

"The company continues to focus on this space and expects to expand its footprint in the sector in the near-term."

At 1130 BST, shares in Corcel were down 10.31% at 1.75p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Corcel Market Data

Currency UK Pounds
Share Price 0.43p
Change Today 0.000p
% Change 0.00 %
52 Week High 2.00
52 Week Low 0.38
Volume 4,487,320
Shares Issued 524.88m
Market Cap £2.23m
RiskGrade 424

Corcel Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
33.21% above the market average33.21% above the market average33.21% above the market average33.21% above the market average33.21% above the market average
22.95% above the sector average22.95% above the sector average22.95% above the sector average22.95% above the sector average22.95% above the sector average
Price Trend
94.94% below the market average94.94% below the market average94.94% below the market average94.94% below the market average94.94% below the market average
88.89% below the sector average88.89% below the sector average88.89% below the sector average88.89% below the sector average88.89% below the sector average
Income Not Available
Growth Not Available

Corcel Dividends

No dividends found

Trades for 11-Aug-2022

Time Volume / Share Price
14:53 450,000 @ 0.44p
14:50 600,000 @ 0.45p
14:31 1,000,000 @ 0.43p
14:27 195,990 @ 0.44p
14:10 65,555 @ 0.44p

Corcel Key Personnel

CEO Scott Christopher Kaintz

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