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Cyclone Metals Ltd ( (AU:CLE) ) has shared an update.
Cyclone Metals Ltd has received a further A$7.6 million in funding from Vale S.A. as part of their joint development agreement for the Iron Bear iron ore project. This funding is part of a larger commitment by Vale to invest up to A$209.8 million to earn a 75% stake in the project. The recent payment signifies Vale’s confidence in the project and supports Cyclone in achieving key operational milestones.
More about Cyclone Metals Ltd
Cyclone Metals Ltd is a company in the mining industry, focusing on the development of iron ore projects. Its primary project is the Iron Bear iron ore project, which is being developed in partnership with Vale S.A.
YTD Price Performance: -1.79%
Average Trading Volume: 2,163,173
Technical Sentiment Signal: Sell
Current Market Cap: A$60.15M
Find detailed analytics on CLE stock on TipRanks’ Stock Analysis page.