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An announcement from Cullen Resources Limited ( (AU:CUL) ) is now available.
Cullen Resources Limited has entered into a binding agreement to sell its Wyloo iron ore royalty to Vox Royalty for A$1.5 million in cash. This transaction allows Cullen to monetize its royalty interest while retaining rights to a future payment of $900,000 from FMG if mining commences at Wyloo. The sale aligns with Cullen’s strategic focus on optimizing its asset portfolio and may impact its financial standing positively. Vox Royalty, a company with a diverse portfolio of mining royalties, expands its holdings in Australia through this acquisition.
More about Cullen Resources Limited
Cullen Resources Limited is a company involved in the exploration and development of mineral resources. Its primary focus is on iron ore, with interests in various tenements in Australia. The company is engaged in transactions that enhance its financial position and strategic operations within the mining sector.
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$4.16M
For detailed information about CUL stock, go to TipRanks’ Stock Analysis page.