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CZR Resources Ltd ( (AU:CZR) ) has shared an announcement.
CZR Resources Ltd has announced the sale of its interest in the Robe Mesa Project to a consortium led by Rio Tinto subsidiaries for A$75 million. This transaction, which has received shareholder approval and key regulatory clearances, will allow CZR to focus on its other advanced exploration assets, including the Croydon Gold Project and Edamurta Copper-Zinc deposit. The company plans to use the proceeds to fund exploration and development of its remaining high-quality portfolio, potentially enhancing its position in the mineral exploration industry.
More about CZR Resources Ltd
CZR Resources Ltd is a mineral exploration and development company based in Western Australia, focusing on iron ore, gold, and base metal projects. The company operates five projects in joint venture with its major shareholder, Creasy Group, strategically located near infrastructure and rich geological areas. Its primary development asset was the Robe Mesa iron ore deposit, part of the Yarraloola project.
Average Trading Volume: 74,213
Technical Sentiment Signal: Buy
Current Market Cap: A$60.44M
Learn more about CZR stock on TipRanks’ Stock Analysis page.