https://www.miningweekly.com

CZR sells Robe Mesa iron-ore project for A$102m

12th January 2024

By: Creamer Media Reporter

     

Font size: - +

ASX-listed CZR Resources has entered into a binding agreement to sell its Robe Mesa iron-ore project to Miracle Iron Resources, with CZR retaining its Croydon and Buddadoo exploration assets.

CZR, in which Mark Creasy is a majority shareholder, will receive A$102-million for its 85% interest in Robe Mesa, representing a substantial premium to the company’s market capitalisation of about A$47-million.

Miracle Iron is based in Perth and is closely linked with its parent company, Shenzhen Naao Jianglan Investment, which is headquartered in China.

CZR’s board has recommended that shareholders support the transaction.

“This sale will unlock substantial value for CZR shareholders with a cash transaction in a very timely fashion.

“The sale price reflects not only the value we have created at Robe Mesa but also the significant potential of the project, ensuring CZR shareholders get appropriate value for the project.

“The transaction will also remove CZR’s funding and development risks associated with the project while delivering CZR a very substantial cash balance,” says MD Stefan Murphy.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

AQS Liquid Transfer
AQS Liquid Transfer

AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa

VISIT SHOWROOM 
Columbus Stainless
Columbus Stainless

Columbus Stainless, based in Middelburg, Mpumalanga, is Africa’s only producer of stainless steel flat products. In addition, Columbus is the only...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (10/07/2026)
10th July 2026 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.152 0.184s - 147pq - 2rq
Subscribe Now