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Cyclone Metals Ltd ( (AU:CLE) ) has provided an announcement.
Cyclone Metals Ltd has received an additional AUD$5.17 million from Vale S.A. as part of their joint development agreement for the Iron Bear iron ore project. This payment strengthens Cyclone’s cash reserves, currently totaling approximately AUD$28.2 million, and underscores Vale’s confidence in the project’s progress. The strong financial position of Cyclone protects its shareholders from potential dilution.
More about Cyclone Metals Ltd
Cyclone Metals Ltd is a company operating in the mining industry, focusing on the development of iron ore projects. Its primary market focus is on the Iron Bear iron ore project, which is being developed in collaboration with Vale S.A.
YTD Price Performance: 3.57%
Average Trading Volume: 2,096,325
Technical Sentiment Signal: Sell
Current Market Cap: A$66.36M
See more insights into CLE stock on TipRanks’ Stock Analysis page.