Steadright Critical Minerals (CSE:SCM) is acquiring two exploration licences in southern Morocco and increasing its interest in local subsidiary NSM Capital Sarl to 76.5%.
The licences cover approximately 32km² along Morocco’s Atlantic coast near the TitanBeach Titanium Project. They will expand NSM Capital’s existing exploration tenure from 192km² to about 224km² and carry no net smelter royalty.
Steadright negotiated the acquisition through Laayoune-based Mining and Research Company under a memorandum of understanding signed in October 2025.
The company will issue 1.5 million shares at C$0.12 each ($0.12) to cover the acquisition cost. The shares have a total deemed value of C$180,000, equivalent to approximately US$127,601 ($183,562.07), below the agreement’s maximum consideration of US$150,000.
The licences will be transferred to NSM Capital upon completion of the purchase agreement.
Steadright’s board has also approved the issue of 2.5 million shares to Critical Foundation Metals at C$0.12 each, representing C$300,000 in consideration for an additional 1.5% interest in NSM Capital.
The transaction is set to increase Steadright’s ownership of the Moroccan company to 76.5%. Under the parties’ shareholder agreement, Steadright retains the right to acquire a further 3.5% interest from Critical Foundation Metals for C$700,000, which would lift its ownership to 80%.
NSM Capital holds the TitanBeach Titanium Project and Copper Valley Project in Morocco. Steadright also has a binding memorandum of understanding covering the historic Goundafa mine.
Steadright is an exploration company established in 2019 and focused on mining projects within Morocco’s critical minerals sector.
Write to France Pinzon at Mining.com.au
Images: Steadright Critical Minerals
