Cyclone Metals Partners with Vale for Iron Bear Project Development

An update from Cyclone Metals Ltd ( (AU:CLE) ) is now available.

Cyclone Metals Limited has entered into a binding development agreement with Vale S.A. for the Iron Bear Project, securing up to USD 138 million in funding from Vale, which will earn them a 75% stake in the project. This strategic partnership involves a two-phased investment approach, with Vale funding the pre-feasibility and environmental studies in Phase 1, and further development activities in Phase 2, including a bankable feasibility study and establishing Impact Benefit Agreements with First Nations. The agreement positions Cyclone Metals to benefit from Vale’s extensive resources and expertise, potentially enhancing its market position and operational capabilities.

More about Cyclone Metals Ltd

Cyclone Metals Limited is engaged in the development of its flagship Iron Bear Project, a prominent iron ore project in the Labrador Trough region of Canada. The company also holds investments in various exploration and mining projects, including gold, lithium, and copper, with shares in listed ASX entities valued at approximately $4.1 million.

YTD Price Performance: -36.67%

Average Trading Volume: 19,920

Technical Sentiment Signal: Buy

Current Market Cap: €23.17M

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