Pearl Gull Iron Ltd (AU:PLG) has released an update.
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Pearl Gull Iron Ltd has announced the mutual termination of its acquisition of Huemul Holdings, in light of current market conditions adversely affecting Rare Earth Elements prices. Consequently, the anticipated board appointment of Dr John Mair will not proceed, and a scheduled General Meeting of shareholders has been canceled. The company is redirecting its focus to develop its Cockatoo Island iron ore projects and seeking new opportunities to enhance its asset portfolio.
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