Bringing on long term investors to support the Niobium exploration without negatively affecting the bottom line (which is fuelled by current IO exports from JWD).
Key points:
“Funds raised will be used towards fast tracking exploration activities at its Tennant Creek Copper, NorthDam Lithium and West Arunta Niobium projects, and for general working capital.”
“CUF Executive Director Mark Hancock commented, “We are pleased to have secured this injection of fundsinto the Company to fund exploration activities at our projects, which have prospectivity for some of theworld’s most sought after future facing minerals in copper, lithium, niobium and rare earths.”
“CuFe has been in a different position to many junior players in that since its JWD iron ore mine commencedin 2021 it has been providing cash flow to fund our exploration and administration costs without the need toraise further equity. While that remains the case we are keen to fast-track our exploration activities now wehave such a prospective portfolio, rather than being able to perform them as and when the iron ore priceallows, so this raise gives us that flexibility.”
“I would like to thank Evolution and Peak and their clients for supporting the raise and look forward to workingwith them to grow the Company for the benefit of all shareholders.”
This announcement is intended to lift the trading halt of the Company
CUF Price at posting:
1.9¢ Sentiment: Buy Disclosure: Held
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