Fenix Resources Limited ( (AU:FEX) ) has provided an update.
CZR Resources Ltd, an Australian mining company, has accepted a superior acquisition offer from the Robe River Joint Venture (RRJV), a collaboration involving Rio Tinto and Mitsui, for its Robe Mesa Iron Ore Project. The deal, worth A$75 million, includes a cash consideration that allows CZR to retain its other projects and reduce exposure to volatile markets. The CZR Board recommends shareholders approve the RRJV transaction, which offers a significant premium over the previous offer from Fenix Resources Ltd, whose bid has now been terminated.
More about Fenix Resources Limited
YTD Price Performance: -1.33%
Average Trading Volume: 3,066
Technical Sentiment Signal: Hold
Current Market Cap: €114M
For detailed information about FEX stock, go to TipRanks’ Stock Analysis page.