Fenix Resources (ASX:FEX) purchased Warriedar Resources' (ASX:WA8) residual Golden Range camp assets for a cash consideration of AU$2 million, the miner said in a Tuesday filing with the Australian bourse.
Warriedar has the first right of refusal to repurchase the camp if Fenix decides to sell it to a third party after completing iron ore production at its nearby Shine iron ore mine, the filing said. The transaction, set to take place on Aug. 5, has no considerable conditions precedent.
Shares of Warriedar Resources jumped nearly 6% in recent Tuesday trade.
Price (AUD): $0.07, Change: $+0.004, Percent Change: +5.88%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments