BCI Minerals Ltd (AU:BCI) has released an update.
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BCI Minerals Ltd has announced the sale of its Iron Valley assets to Mineral Resources’s subsidiary, Polaris Metals, for a guaranteed $60.1M with an additional $12.5M contingent payment. This strategic divestment aligns with BCI’s focus on its Mardie Project and is expected to provide the company with cash flow certainty, thereby enhancing shareholder value. The transaction, subject to Ministerial consent, is slated for completion in July 2024, with BCI anticipating a gain from the sale.
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