CZR Resources Ltd ( (AU:CZR) ) has issued an update.
CZR Resources Ltd has received a binding offer from the Robe River Joint Venture, which includes subsidiaries of Rio Tinto and Mitsui, to acquire CZR’s interest in its Robe Mesa Iron Ore project for A$75 million. The CZR Board has deemed this offer as a superior proposal compared to a previous offer from Fenix Resources Ltd, citing the cash consideration as a significant premium and beneficial for future project developments. This decision allows CZR to retain its other project interests and reduces its exposure to volatile capital and commodity markets.
More about CZR Resources Ltd
CZR Resources Ltd is a company operating in the mining industry, primarily focusing on iron ore projects. The company is involved in the development and exploration of its Robe Mesa Iron Ore project and holds interests in various other projects including the Ashburton Link, Croydon Gold Project, Buddadoo project, and more.
YTD Price Performance: 28.57%
Average Trading Volume: 533,654
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$63.92M
Learn more about CZR stock on TipRanks’ Stock Analysis page.