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Following an extensive period of balance sheet reconstruction and management changes, Corcel has now rebranded to reflect its new focus on owning and developing battery mineral assets and investing in flexible energy generation and storage. It has continued to invest in both aspects of the business while the transformation was ongoing and has made significant recent progress towards commercialising its Mambare nickel and cobalt prospect in Papua New Guinea while nearing commencement of construction on two UK energy projects.
The company has transformed rapidly from being a pure natural resources company into a broad-based battery metals and energy production and storage developer. Demand for battery metals is expected to rocket as electric vehicle manufacture increases and as the demands that greener energy production places on distribution networks necessitates more flexible generation and storage solutions. Being involved in both the production of battery metals and an operator of battery storage gives a hedge against volatile metals prices. The company is now a better balance of short-term cash generating assets in electric storage and significant upside potential in its developing mineral prospects.