Latest Czr Resources (ASX:CZR) News

CZR Resources has won overwhelming shareholder approval to sell its Robe Mesa Iron Ore Project to a Rio Tinto-Mitsui joint venture for approximately A$75 million, setting the stage for a significant portfolio reshuffle.

Fenix Resources’ off-market takeover offer for CZR Resources has officially lapsed after failing to meet the 75% minimum acceptance threshold, leaving CZR shareholders in control of their stakes.

CZR Resources has terminated its prior deal with Miracle Iron and endorsed a superior A$75 million cash offer from the Rio Tinto-led Robe River Iron Associates JV for its Robe Mesa Project. The company retains promising gold and titanium-vanadium assets while preparing for shareholder approval.

CZR Resources faces ongoing delays in FIRB approval for its $102 million Robe Mesa sale, prompting a strategic pause in exploration and an extension of its loan facility to sustain operations.

CZR Resources updates investors on the extended FIRB approval timeline for its Robe Mesa Iron Ore Project sale, highlighting amended transaction terms that allow termination before the new February deadline.