All conditions precedent to the sale of mining rights at JWD by CuFe Ltd (ASX:CUF) to Newcam Minerals Pty Ltd were met by October 31 and settlement of the transaction wrapped up on November 1.
CuFe executive director Mark Hancock said: “We are pleased to complete this agreement with Newcam and thank them for their assistance in achieving this.
“We would also like to thank all those who have assisted us over our time at JWD.”
Some activities still pending
Adjustments for previous sales are still pending and will depend on final pricing or quality assessments.
The process for finalising November hedges is also ongoing along with the realisation of CuFe’s remaining product inventory.
The costs shared between CuFe and Newcam, covering activities from the transaction announcement until its completion, are yet to be allocated.
All of these adjustments are anticipated to be completed and settled within the current quarter.
About CuFe
CuFe Ltd (ASX:CUF) is a producer and explorer focused on advancing near-term, high-grade iron ore projects, with additional exposure to strategic metals such as copper and lithium.
The company holds a diverse portfolio of projects and tenements across Australia, targeting copper, lithium, rare earth elements (REEs), gold and iron ore in world-class mineral provinces.
With a skilled team, CuFe has demonstrated expertise in executing rapid, flexible and low-capital iron ore developments.