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CZR RESOURCES LTD — Capital/Financing Update 2024
Jul 30, 2024
64748_rns_2024-07-30_a62f9ffc-3a98-454b-808e-82edaee18a58.pdf
Capital/Financing Update
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CZR Resources Ltd
ABN: 91 112 866 869 Level 3, 47 Havelock St West Perth Western Australia 6005 PO Box 16 Perth WA 6872 Phone: +61 8 9468 2050 Website: www.czrresources.com
The Company Announcements Office, ASX Limited
31 July, 2024
Further Chinese Government approval and update on sale of Robe Mesa Iron Ore Project
CZR Resources Ltd (ASX:CZR) refers to its proposed sale of the Robe Mesa Iron Ore Project to Miracle Iron Resources Pty Ltd ( Miracle Iron ) (see ASX release dated January 11, 2024).
CZR has been informed by Miracle Iron that in addition to the key approval received from the Chinese National Development and Reform Commission (NDRC), the Ministry of Commerce, Peoples Republic of China (MOFCOM) has also approved the Robe Mesa transaction, achieving another important milestone and condition precedent to the Share Sale Agreement for Robe Mesa.
Foreign Investment Review Board ( FIRB) approval remains an outstanding condition precedent to the transaction. Miracle Iron received a request for extension of the statutory deadline to 31 July, 2024, which was granted and announced to the market on 1 July, 2024
FIRB has advised Miracle Iron that it is unable to complete its assessment of the application concerning the proposed sale by the current statutory deadline of 31 July, 2024 and has requested a further extension to the statutory deadline to 31 August, 2024.
Miracle Iron has advised CZR that it has agreed to the extension.
Miracle Iron has advised CZR that as at the date of this announcement there are no outstanding requests for further information from FIRB on its application.
As a consequence of the delay with FIRB approval, the parties have agreed to extend the sunset date to 31 August, 2024 for the satisfaction of the outstanding conditions precedent to the transaction.
Post completion of the proposed sale of the Robe Mesa Iron Ore Project to Miracle Iron, CZR will be well funded and retain its high-quality Croydon and Buddadoo exploration assets in WA.
This announcement is authorised for release to the market by the Board of Directors of CZR Resources Ltd.
Stefan Murphy Managing Director CZR Resources Ltd +61 8 9468 2050
Media Paul Armstrong Read Corporate +61 8 9388 1474
CZR Resources Ltd
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