Tombador Iron Ltd. ( (AU:TI1) ) has provided an update.
Tombador Iron Limited’s March 2025 quarterly report highlights a cash increase of AUD$80K, with total cash holdings of AUD$10.905 million as of March 31, 2025. The company received AUD$350K in royalty payments from the purchaser of its former Tombador Iron Project and is actively pursuing the acquisition of the Colomi Iron Project in Brazil. This project, located in north-east Brazil, holds a significant magnetite mineral resource with potential for high-quality iron concentrate production. The company is in voluntary suspension as it progresses with activities related to the acquisition and prepares for re-listing on the ASX. Advanced discussions with potential investors and strategic planning for project scoping and prefeasibility studies are ongoing, reflecting the company’s strategic shift and potential growth opportunities.
More about Tombador Iron Ltd.
Tombador Iron Limited, listed on the ASX in October 2020, is an Australian company that commenced production of high-grade hematite iron ore from a simple open cut mining operation in Q2 2021. The company sold its primary undertaking, the Tombador Iron Project in Brazil, in December 2023.
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$30.22M
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