The latest announcement is out from CZR Resources Ltd ( (AU:CZR) ).
CZR Resources Ltd has accepted a binding offer from the Robe River Joint Venture (RRJV), involving North Mining Limited, Robe River Mining Co Pty Ltd, and Mitsui Iron Ore Development Pty Ltd, for the acquisition of its Robe Mesa Iron Ore Project for A$75 million. The CZR Board has determined this offer to be superior to a previous offer from Fenix Resources Ltd, citing the cash consideration as a significant premium and beneficial for future project development without the need for additional capital raising. The transaction, which includes a working capital loan and a release deed, is subject to shareholder approval, with the Board recommending shareholders vote in favor of the RRJV Transaction.
More about CZR Resources Ltd
CZR Resources Ltd is a mining company primarily focused on iron ore projects in Western Australia. The company holds interests in various tenements and projects, including the Robe Mesa Iron Ore Project, and has a portfolio that includes iron ore, gold, titanium-vanadium, and copper-gold prospects.
YTD Price Performance: 38.10%
Average Trading Volume: 566,921
Technical Sentiment Signal: Sell
Current Market Cap: A$68.65M
For detailed information about CZR stock, go to TipRanks’ Stock Analysis page.