An announcement from CZR Resources Ltd ( (AU:CZR) ) is now available.
Fenix Resources Ltd has announced it received acceptances for 10.04% of CZR Resources Ltd’s shares as part of its conditional off-market takeover bid. This acquisition is expected to enhance Fenix’s strategic positioning in the iron ore market, leveraging its existing mining and logistics operations to expand its asset base and production capacity.
More about CZR Resources Ltd
Fenix Resources (ASX: FEX) is a fully integrated mining, logistics, and port services business based in the Mid-West region of Western Australia. The company focuses on iron ore production, aiming for an annual production rate of 4 million tonnes in 2025. Fenix operates the Iron Ridge Iron Ore Mine, Shine Iron Ore Mine, and Beebyn-W11 Iron Ore Project, and manages logistics through its Newhaul Road and Port Logistics businesses. The company emphasizes local community engagement and partnerships, generating over 300 jobs and maintaining strong indigenous workforce representation.
YTD Price Performance: 21.43%
Average Trading Volume: 363,512
Technical Sentiment Consensus Rating: Sell
Current Market Cap: A$60.37M
Learn more about CZR stock on TipRanks’ Stock Analysis page.