Ambeon Capital PLC has announced a strategic investment of LKR 600 million in the Taprobane Minerals Project, a high-grade mineral sands operation located in Sri Lanka’s Eastern Province. The move marks a key step in the company’s efforts to diversify its investment portfolio.
The Project is being promoted by UK-based Capital Metals PLC, which is listed on the London Stock Exchange (AIM: CMET). Ambeon’s investment will be made in Redgate Lanka (Pvt) Ltd, the local subsidiary and holding company of the Project.
In return for its investment, Ambeon Capital will receive 59.7 million ordinary shares in Capital Metals, amounting to a 14.1% stake in the company. These shares will be listed on the London Stock Exchange upon issuance.
The Taprobane Minerals Project, known for its high-grade deposits of ilmenite, rutile, zircon, and garnet, offers significant potential for expansion, aligning with Ambeon’s long-term growth strategy.