CZR Resources Ltd (ASX:CZR) Provides Update on Robe Mesa Sale
CZR Resources Ltd (CZR) has provided an update regarding the sale of the Robe Mesa Iron Ore Project to Miracle Iron Resources Pty Ltd (Miracle Iron). The Foreign Investment Review Board (FIRB) approval is the last key condition required to complete the transaction.
FIRB has informed Miracle Iron of its inability to finish its assessment within the initial timeframe, leading to a request for a statutory deadline extension to 24 January 2025. Miracle Iron has agreed, and both parties have also extended the sunset date of the transaction to the same date.
In light of the ongoing delays, as stated in CZR’s earlier announcement on 29 November 2024, the parties decided to end the exclusivity obligations under the share sale agreement. This allows CZR to explore discussions with other potential buyers for Robe Mesa.
This announcement is officially released to the market by the Board of Directors of CZR Resources Ltd.
Motley Fool contributor Aaron Shaw has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.