Cyclone Metals Ltd ( (AU:CLE) ) has shared an update.
Cyclone Metals Limited has received the first tranche of A$10 million from Vale S.A. as part of a binding development agreement for the Iron Bear iron ore project in Canada. This funding marks a significant milestone for Cyclone, enabling them to proceed with a large drilling program planned between June and November, which is expected to enhance the project’s development and de-risking efforts.
More about Cyclone Metals Ltd
Cyclone Metals Limited is a company operating in the mining industry, focusing on the development of iron ore projects. Its primary product is iron ore, and it is currently engaged in a joint development project in Canada.
YTD Price Performance: -10.0%
Average Trading Volume: 18,620
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €32.41M
For detailed information about CLE stock, go to TipRanks’ Stock Analysis page.