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Fenix Resources Limited ( (AU:FEX) ) just unveiled an update.
CZR Resources Ltd has received a binding offer from the Robe River Joint Venture, comprising subsidiaries of Rio Tinto and Mitsui, to acquire its interest in the Robe Mesa Iron Ore project for A$75 million. This offer is considered superior to the previous proposal from Fenix Resources Ltd due to its favorable cash terms, which will allow CZR to develop its other projects without the need for additional capital raising and reduce exposure to volatile markets.
More about Fenix Resources Limited
YTD Price Performance: -10.67%
Average Trading Volume: 4,800
Technical Sentiment Signal: Hold
Current Market Cap: €113.8M
See more insights into FEX stock on TipRanks’ Stock Analysis page.