Atlas Metals Group PLC - natural resources and energy investor formerly known as MetalNRG - Says it is considering and in discussions for a number of potential acquisition targets, which are primarily producing assets focused on copper and gold in Africa. This follows the termination of the group’s agreement to buy Compagnie Miniere de Oumerjrane from Moroccan mining group Managem SA in December, as Atlas Metals was unable to raise the £15 million needed to complete the deal. It says Managem have now completed the sale of CMO to an unnamed third party.

Chief Executive Officer Christopher Chadwick says: ‘Whilst it was obviously disappointing that we could not conclude the acquisition of CMO, I am very pleased with the quality and breadth of the alternative acquisition opportunities that are being presented. The Atlas Metals strategy remains unchanged and I am fully committed to building a global natural resources business to deliver industry leading returns to shareholders through a consolidation of tier two assets over the next five years.’

Current stock price: 9.06 pence

12-month change: down 19%

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