Critica Limited (ASX:CRI) Releases Mining Bond, Boosts Jupiter Project
Mining Bond Release
Critica Limited (ASX:CRI) has successfully released its mining bond with Mineral Resources Tasmania, receiving A$585,000 in returned funds. This bond release follows the completion of the share purchase and sale agreement for Venture Iron Pty Ltd, as detailed in a previous ASX release dated June 24, 2024.
Project Advancement
The return of these funds bolsters Critica’s cash position, enabling further advancements in its high-grade Jupiter Rare Earths Project, a crucial component of the Brothers Clay-Hosted Rare Earths Project located in Western Australia.
Managing Director Philippa Leggat stated, “We are beginning 2025 on a high note with the return of this A$585,000 bond bolstering our already-strong cash position. This capital is now available to continue adding value to our Brothers Project.”
Critica anticipates the imminent release of a maiden Mineral Resource Estimate for its Jupiter discovery, marking an exciting milestone in the development of the broader Brothers Project. With approximately 40 kilometres of drilling completed in just 18 months, Critica remains poised for substantial progress in the exploration and technical evaluation phases this year.
Future Outlook
Leggat added, “We expect to have initial results from our multiple metallurgical testwork streams on Jupiter fairly soon.” These upcoming milestones are set to enhance the exploration efforts and unlock the project’s potential.
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