Citius Resources Plc
CRES.L
London Stock Exchange3.00
GBp
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Citius Resources Plc
CRES.L
(London Stock Exchange)
Recent
price
3.00
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div
yld
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ROIC.AI
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- Business
- Citius Resources Plc Citius Resources Plc (CRES.L), now renamed Harena Rare Earths Plc, is a UK-based investment company focused on acquiring exploration or production businesses in the precious, base metals, and rare earths sectors. The company targets opportunities primarily in Europe, Africa, and the Middle East, emphasizing assets with strong fundamentals, established markets, and favorable governance; it prioritizes pre-production stage projects in natural resources, including ionic clay deposits for rare earth element extraction to produce mixed rare earth carbonate or concentrate. Incorporated in 2020 and headquartered in London at 167-169 Great Portland Street, Fifth Floor, the company operates through a board with expertise in mining, energy, and corporate finance, serving markets requiring secure, non-Chinese supply chains for critical minerals used in defense, robotics, electric vehicles, and renewables. In March 2025, Citius Resources completed a reverse takeover acquisition of Harena Resources Limited, admitting its enlarged share capital to the London Stock Exchange's Official List and Main Market under the ticker HREE, with a market capitalization of £12.4 million on admission; this transaction integrates the Ampasindava Project in Madagascar, a JORC 2012-compliant resource of 698.5 million tonnes grading 868ppm total rare earth oxides containing 606 kilotonnes, featuring 22% magnet metals like neodymium, praseodymium, dysprosium, and terbium. The project supports low-cost, environmentally friendly ionic clay processing and includes a non-binding offtake term sheet with United Rare Earths Inc. for US supply chains, alongside near-term milestones such as feasibility studies, mining license conversion, and additional offtake negotiations.