Aberdeen Minerals announces new £1.15 million investment by CAML

Aberdeen Minerals announces a new £1.15 million investment into the Company agreed with its largest shareholder, London-based mining company Central Asia Metals Plc (“CAML”).

The funds will be invested in a “Phase 4” regional exploration programme to widen the search for domestic critical minerals across new targets identified in the prospective geology of Aberdeenshire. The Company is exploring North East Scotland for nickel, copper and cobalt sulphide deposits in partnership with local landowners.

The new equity investment is to be made through the exercise by CAML of the final tranche of a share warrants package granted to CAML in June 2024. The Company and CAML have agreed to amend the exercise price of the warrants from 11p to 8.5p, and increase the number of warrants to facilitate the £1.15 million cash value. These amendments and completion of the investment are subject to approval at a general meeting of Aberdeen Minerals shareholders, with notice of the meeting sent to shareholders today.

Completion of the investment will increase CAML’s interest in the Company’s shares from 32.6% to 38.9%.  

Enquiries and further information:

Fraser Gardiner, CEO     Email: info@aberdeenminerals.com      Web: www.aberdeenminerals.com

Rocks enriched in nickel, copper and cobalt sulphide minerals which formed in North East Scotland 470 million years ago were first discovered by geologists in 1968 under farmland at Arthrath, near Ellon. A staged exploration programme by Aberdeen Minerals is combining modern geological models with latest technology to target higher value concentrations of sulphides below and around the historically recorded mineralised zones. The UK government has classified nickel and cobalt as “critical minerals” and copper as a “growth mineral”, each being essential to the UK’s economy, national security, and clean energy transition.