Capital Metals PLC - Sri Lanka-focused mineral sands company - Updates regarding the temporary suspension by the Geological Survey & Mines Bureau of the company’s industrial mining licences. Company says it is consulting with its international and local legal advisers but considers the reasons for the notice of cancellation to be devoid of merit. Plans to follow the appeal procedure in accordance with Sri Lanka’s Mines & Minerals Act which stipulates that a cancellation shall not take effect unless and until an appeal has been disallowed. Chair Greg Martyr says: ‘We believe the notice of cancellation of the IMLs is a desperate act of a small number of individuals within the GSMB and, given what is at stake, will be overturned when common sense prevails.’

Current stock price: 2.20 pence, down 39% in London on Tuesday

12-month change: down 66%

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