CZR Resources Ltd ( (AU:CZR) ) just unveiled an update.
CZR Resources Ltd has announced a significant shift in its strategic direction by rejecting an off-market takeover offer from Fenix Resources Ltd in favor of a more lucrative proposal from the Robe River Joint Venture (RRJV), which includes subsidiaries of Rio Tinto and Mitsui. The RRJV Transaction offers a cash consideration of A$75 million, deemed superior to Fenix’s all-scrip offer, allowing CZR to retain its other projects and reduce exposure to market volatility. The CZR Board and its largest shareholder, Mark Creasy, have expressed strong support for the RRJV Transaction, which is subject to shareholder approval.
More about CZR Resources Ltd
CZR Resources Ltd is a company involved in the mining industry, focusing on the development and exploration of iron ore and other mineral projects. The company holds interests in various projects, including the Robe Mesa Iron Ore Project and other prospective sites for gold, titanium-vanadium, and copper-gold.
YTD Price Performance: 38.10%
Average Trading Volume: 566,921
Technical Sentiment Signal: Sell
Current Market Cap: A$68.65M
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