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Share Name Share Symbol Market Type Share ISIN Share Description
Citius Resources Plc LSE:CRES London Ordinary Share GB00BMGRFP88 ORD 0.5P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 3.00 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial -0.26 -0.69 1
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 3.00 GBX

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Posted at 03/2/2023 08:20 by Citius Resources Daily Update
Citius Resources Plc is listed in the General Financial sector of the London Stock Exchange with ticker CRES. The last closing price for Citius Resources was 3p.
Citius Resources Plc has a 4 week average price of 0p and a 12 week average price of 0p.
The 1 year high share price is 3.45p while the 1 year low share price is currently 2.75p.
There are currently 43,250,000 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Citius Resources Plc is £1,297,500.
Posted at 04/12/2022 12:58 by hedgehog 100
29/11/2022 10:31 UKREG Citius Resources PLC Half-year Report

Interim Financial Statements

for the six month period ended 31 October 2022

The Company is pleased to announce its Interim Results for the six-month period to 31 October 2022. ...

Interim Management Report

Dear shareholder,

I am pleased to present the interim report and accounts for the six-month period to 31 October 2022 for Citius Resources Plc.

The Company was formed for the purpose of acquiring a natural resources asset, in June 2022 the Company agreed terms with the vendors of AUC Mining (U) Limited the holder of the Kamalenge Gold Project (the "Acquisition") which is in the Mubende Gold District in Uganda. The Company is now well progressed in its due diligence and is nearing completion of the transaction. The Kamalenge Gold Project is a highly exciting project given the exploration work to date and indications that it may host a high-grade gold project with the potential for near term production.

The Company is now well positioned to complete the Acquisition which would constitute a Reverse Take Over under the Listing Rules and accordingly, the company would apply for re-admission of its shares to the Official List and the Main Market of the London Stock Exchange.

I would like to thank the board and advisory team for all their hard work over the past six months and we look forward to further updating shareholders and the market in due course.

Cameron Pearce ...

https://uk.advfn.com/stock-market/london/citius-resources-CRES/share-news/Citius-Resources-PLC-Half-year-Report/89658168

Posted at 17/11/2022 16:55 by hedgehog 100
The BRES share price has been performing well recently, with good newsflow, moving to over 7.5p today before closing at 6.72p.

This shows that good mining stocks can still perform well in challenging market conditions, and bodes well from CRES's proposed RTO.

Posted at 11/6/2022 16:05 by hedgehog 100
CRES shows the excellent gains that can be made from buying a reasonably-valued shell, with good deal prospects, and waiting patiently.

A likelihood of an immediate 50%+ gain if the RTO proceeds, which it should, and a discounted holding in what could be a very exciting and multibagging growth company.

And all it takes for investors is a little research, market timing, and a willingness to buy before the herd.

Though they can be illiquid, with micro market capitalisations, after a RTO the liquidity and markets caps. may be expected to increase markedly.

For those kicking themselves at missing out on the CRES shell opportunity, the stock market is merciful, as it always throws up fresh opportunities.

Two other very attractive shells with CRES-like potential, both with great cash underpinning, are these:-

Aura Renewable Acquisitions (ARA) 9.75p Market cap. £1.024M.
https://uk.advfn.com/p.php?pid=quote&;symbol=L%5EARA

More Acquisitions (TMOR) 1.025p Market cap. £1.28M.
https://uk.advfn.com/p.php?pid=quote&;symbol=LSE:TMOR

Posted at 11/6/2022 13:44 by hedgehog 100
Divmad,

I think CRES may look to raise about a couple of million pounds, as when BRES RTOed:-

28/04/2020 07:00 UK Regulatory (RNS & others) Blencowe Resources PLC Acquisition of the Orom-Cross Graphite Project LSE:BRES Blencowe Resources Plc
"Acquisition of the Orom-Cross Graphite Project
Completion of oversubscribed GBP2m fundraise at 6p per share
Fully-Funded 2020 Work Program to enable maiden JORC Resource ..."
https://uk.advfn.com/stock-market/london/blencowe-resources-BRES/share-news/Blencowe-Resources-PLC-Acquisition-of-the-Orom-Cro/82319546

Posted at 09/6/2022 13:00 by hedgehog 100
LSE % Gainers Top Lists
EPIC Name %
RGP Ross +13%

Today's top riser is only up 13%, which is a sign of bad market conditions.

So if CRES wasn't suspended today, I think that it should be top.

Though it probably will be at de-suspension, if the RTO goes ahead.

Posted at 09/6/2022 07:46 by hedgehog 100
09/06/2022 07:30 UK Regulatory (RNS & others) Official List Suspension - Citius Resources Plc LSE:CRES Citius Resources Plc

NOTICE OF TEMPORARY SUSPENSION OF LISTING FROM THE OFFICIAL LIST
09/06/2022 07:30
TEMPORARY SUSPENSION
Citius Resources Plc
The Financial Conduct Authority ("the FCA") temporarily suspends the securities set out below from the Official List effective from 09/06/2022 07:30 at the request of the company: ...

https://uk.advfn.com/stock-market/london/citius-resources-CRES/share-news/Official-List-Suspension-Citius-Resources-Plc/88323900


09/06/2022 07:40 UK Regulatory (RNS & others) Citius Resources PLC Statement re. Suspension LSE:CRES Citius Resources Plc

Proposed Transaction and Suspension of Listing

Citius Resources plc (the "Company" or "Citius"), an investment company listed on the London Stock Exchange, is pleased to announce that it has entered into a binding Heads of Terms with regard to the possible acquisition of 100% of the share capital of AUC Mining (U) Limited ("AUC') to be satisfied by the issue of New Ordinary Shares of the Company ('the Proposed Transaction').

AUC holds the Kamalenge Gold Project in the Mubende Gold District, Uganda. The Project has the potential to be a large and high-grade gold project based on preliminary due diligence of the exploration work completed by the Company and its consultants. AUC have completed extensive work and expenditures on the Project over recent years yielding substantial drilling and exploration data for the Company to advance.

Citius has agreed, subject to further due diligence, to acquire the entire share capital of AUC for total consideration of GBP2,000,000 (two million pounds), to be satisfied in full by the issue of 43,243,333,242 new shares of the Company at an implied price of GBP0.04625 per share ("Acquisition"). Citius will also undertake to raise further capital to support the future work programme and for general working capital. The details of the work programme will be finalised during the forthcoming due diligence phase.

Should the Acquisition complete, it would constitute a Reverse Take Over (" RTO ") under the Listing Rules and accordingly, the Company would apply for the re-admission of its shares to the Official List and the Main Market of the London Stock Exchange.

Therefore, at the request of the Company, the FCA has suspended the Company's listing on the standard segment of the Official List and trading on the Main Market of the London Stock Exchange has also been suspended as of 7.30am today, pending the publication of a prospectus providing further detail on AUC and the Company as enlarged by the Acquisition, or an announcement that the Acquisition or RTO is not proceeding. Should the RTO not proceed, then the Company would need to apply for the suspension to be lifted and for trading to be restored.

The Proposed Transaction remains subject to due diligence, completion of the acquisition and re-listing of the enlarged group on the Official List.

Cameron Pearce, Executive Director commented:

"Citius was formed for the purposes of acquiring a natural resources asset and the Board is fortunate, having reviewed several projects, to now be in a position to reach an investment decision, subject to further due diligence. The Kamalenge Gold Project is a highly exciting project given the exploration work to date and indications that it may host a large and high-grade gold project. We will be working with AUC to complete the due diligence and prospectus for the relisting of the Company as soon as practicable.

The board of Citius, which already has existing experience in operating in Uganda, looks forward to keeping shareholders informed of further developments in what we believe is a compelling transaction for shareholders of the Company". ...

https://uk.advfn.com/stock-market/london/citius-resources-CRES/share-news/Citius-Resources-PLC-Statement-re-Suspension/88323962

Posted at 29/5/2022 11:55 by hedgehog 100
CRES IPOed last summer, at 4p per share -

25/08/2021 07:00 UK Regulatory (RNS & others) Citius Resources PLC Admission and First Day of Dealings LSE:CRES Citius Resources Plc

"Citius Resources Plc, an investment company seeking to acquire a company or project in precious and/or base metals, is pleased to announce the admission of its entire issued share capital, being 43,250,000 ordinary shares of GBP0.005 each ("Ordinary Shares"), to the Official List (by way of a Standard Listing under Chapter 14 of the Listing Rules) and to trading on the London Stock Exchange's Main Market for listed securities (the "Admission"). The Company has raised a total of GBP1,120,000 since incorporation including GBP560,000 through a placing of 14,000,000 Ordinary Shares at 4p ("IPO Placing") by Brandon Hill Capital, broker to the Company.

Cameron Pearce, Chief Executive Officer commented:

"The Board of Citius and its advisory team comprise a knowledgeable and experienced group of professionals with the relevant skills and expertise to successfully source, structure and complete acquisitions in the mining sector to deliver upon our strategy to return substantial value to investors. As such we are pleased to be listing upon the Official list of the main market and will provide the market with updates in due course, as we begin to review investment opportunities." ..."

https://uk.advfn.com/stock-market/london/citius-resources-CRES/share-news/Citius-Resources-PLC-Admission-and-First-Day-of-De/85907459


CRES's CEO Cameron Pearce was also the head of shell company BRES (Blencowe Resources), which also IPOed at 4p/share.

And he arranged the RTO into BRES of the Orom-Cross Graphite Project, priced at 6p/share, with a placing at the same price, compared to the pre-existing BRES share price of 4.5p -

28/04/2020 16:45 Alliance News Blencowe Resources Shares Skyrocket As Graphite Project Deal Sealed LSE:BRES Blencowe Resources Plc
28/04/2020 07:00 UK Regulatory (RNS & others) Blencowe Resources PLC Acquisition of the Orom-Cross Graphite Project LSE:BRES Blencowe Resources Plc
https://uk.advfn.com/stock-market/london/blencowe-resources-BRES/share-news/Blencowe-Resources-PLC-Acquisition-of-the-Orom-Cro/82319546


BRES then closed on 28th. April 2020 at 8p/share, and within a month had reached nearly 9p.


Potentially this BRES RTO could set a rough 'template' for CRES: as it's the same boss, the same IPO prices, the same target sector, and even the tickers (BRES & CRES) are very similar.

Posted at 29/5/2022 09:39 by hedgehog 100
Poor stock market conditions tend to make it harder to IPO, increasing the attractions of the RTO route, and increasing the bargaining power of shells like CRES.

And meanwhile, the valuations of RTO targets for shells tend to be depressed.

So ironically, the s.p.s of shells like CRES can become depressed at the same time as they are in effect becoming more valuable: more capable of cutting a cracking RTO deal on great terms - i.e. a better shell valuation and lower target valuation, and great quality targets.


Which makes a shell like CRES - at a reasonable valuation re. its cash and with great deal prospects - a great place to 'park funds' at the moment.

Many investors may wish to reduce their exposure to shares in companies with trading businesses, but holding cash for months doesn't give any real direct upside - certainly in the short term.

CRES though has both some underpinning, and great potential upside - it could easily multibag from this level on a good deal.

And you don't have to worry about funds being tied up here for a while if you won't be using them anyway.

Posted at 19/2/2015 08:12 by strutt12
Folderboy
The consideration will be a shareholding of between 25% and 29.9% in the Company with the balance of the consideration payable in cash from an expected firm placing and open offer to shareholders during the first quarter of 2015.


Discount to net asset value

At the start of 2014 the shares were trading at 6.0p per share which equated to a discount to the underlying net asset value of 34%. This discount fluctuated through the year. At the point of suspension from trading on 18 November 2014, the share price was 5.4p, a discount of 43%.

Whilst the discount to net asset value represents an indicator of potential impairment to the investment in Harworth Estates, the Directors are confident that the carrying amount of the investment does not exceed its recoverable amount and therefore no impairment is required

Posted at 25/10/2014 23:13 by jeffian
Have a look at the accounts which specifically include a section on Harworth Estates.

hTTp://www.investegate.co.uk/coalfield-resources--cres-/rns/half-yearly-report/201408130700059588O/

You tell me how much rental income they have (nil/next to nil) and what "dividend" they pay to CRES (nil).

I, too, have shares in this company because I like buying £1 for 50p, but I appreciate it may take a while before that value is realised. It isn't growing "with little risk", it has a risk that the value will not be achieved by planning permissions, by fluctuations in the property market and by delays in realising that value. In the meantime, the share price will fluctuate as the market's perception of the likely timing and amount of such realisations changes. Basically, CRES owns 25% of a company which just owns a lot of derelict land (former mining sites) which it hopes will pay out as they are developed for housing or commercial use over time. There is also, as you say, the chance that Peel will buy out the rest of the company they already own, though I can't see a compelling reason for this as they are already in the driving seat.

It is likely that the share will always trade at a discount to underlying NAV for the reasons given previously. What one hope is that current NAV proves to be vastly undervalued as the development potential of those sites is realised.

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