CZR - CZR Resources

[pussycat2005]

30 August 2006
COZIRON RESOURCE’S SUCCESSFUL MARKET DEBUT
New Indonesian explorer Coziron Resources Ltd (“Coziron”) had a successful debut on
the Australian Stock Exchange (“ASX”) yesterday with shares in the company opening at
23.5 cents, closing at end of trading at 24 cents; a 20% premium to it’s issue price of 20
cents.
Coziron’s successful opening followed on from it’s over subscribed initial public offering
of $3.5 million.
Coziron will focus initial exploration efforts on its Rawang Gadang (“Rawang”) iron ore
project in Western Sumatra. Drilling is proposed to commence towards the end of
September 2006.
The initial drilling program will comprise approximately 3000 metres of RC drilling in 40
holes and is designed to expand and better define the high grade magnetite deposit at
Rawang.
Coziron will also focus on meeting the off-take agreement with Chinese iron ore importer
China Kingdom International Group, which also has a 5% stake in the Company.
In the coming months Coziron will continue with further programs of exploration drilling
at Rawang and other prospects within it’s large regional tenement base in Sumatra.
For further information please contact:
Lam Fatt Tan (Executive Director – Corporate) or
Greg Burns (Executive Director – Technical)
Telephone: (08) 9227 7766
www.coziron.com

 

[pussycat2005]

czr closed up 18%
has anyone done any research on this stock or have an opinion.

cheers
p

 

[Dr Stock]

Coziron

Is anybody looking at this stock. It recently listed and is looking at an iron ore project in Indonesia.

(CZR)

 

[springhill]

MC - $31m
SP - 7c
Shares - 454m
Options - Nil
Cash - $1.1m

On about 24 July 2012 Coziron entered into three deeds to vary the terms of the original three individual Share Sale and Purchase Agreements with Zanthus Resources Pty Ltd, Buddadoo Metals Pty Ltd and King X Pty Ltd dated 30 December 2011.
All three Agreements are virtually identical and are varied by the execution of three virtually identical Deeds of Variation and Restatement. The material variations to the Agreements as a result of the execution of the Deeds are as follows:
1) at all times until completion, the purchaser having completed a capital raising, maintaining an amount of not less than $2 million in its account designated the “Share Proceeds Account”, or such lesser amount as the vendor approves.
2) the shareholders of the Company approving the transaction.
3) If the conditions are not satisfied by 17 September 2012 or such later date as the parties may agree in writing then the vendor may terminate the Agreements by giving written notice to the purchaser to that effect.
The Company has raised funds of $2,050,000 at $0.10 per share and the funds are being held in the Company’s share proceeds account. It is a condition of the Agreements that CZR obtains shareholder and regulatory approvals to achieve completion.

YARRALOOLA PROJECT
Having completed in late March all heritage surveys and approvals, the Company successfully undertook project access and site selection to enable drilling to commence. This first planned initial drill program on the first targets on the Yarraloola Project commenced on approximately 21 May 2012. The program was reduced to approximately 4,000 metres of RC drilling with 65 holes in total to better spread exploration understanding for targeting purposes given the vast array of geological targets on the property. The drilling programme was be the first conducted on the 1,400 square kilometre tenement package.
The Company also undertook some mapping and reconnaissance sampling on mineralisation in the Brockman Iron Formation and also Channel Iron Deposits which are located on the tenements. Results from these studies and drilling will be available in about 3 weeks.
Follow-up targets have been identified in the Brockman Iron Formation and Channel Iron mineralisation.

BUDDADOO
The most advanced target on Buddadoo is a drilled interval of V-Ti-magnetite mineralisation in gabbro. The mineralogy of the mineralisation is being reviewed to determine the optimal down-stream processing options. Other targets being assessed at Buddadoo include Cu-Au mineralisation in felsic rocks and copper mineralisation along the contact of the V-Ti-magnetite gabbro and the adjacent host rocks.

KINGX PROJECT
The Company has commenced exploration on the King X project. This project contains a number of outcrops of manganese mineralisation which are consistently located at an interval above pelletal iron-formation amongst the sediments of the Earaheedy Basin. This style and setting of the mineralisation is similar to the Kalahari Basin in southern Africa which hosts the Worlds largest accumulations of manganese. The Company is currently planning an airborne EM survey to assist with the selection of drill-sites.

AGAM IRON SANDS PROJECT
The Company maintains its interest in the Agam Iron Sands project, located on the island of Sumatra. The Board is currently considering alternatives for the project, including further work as recommended by the consultant geologists.

 

[greggles]

CZR waking up? It has shot up 110% to 2.1c today on above average volume. Yesterday's close was 1.0c. Hmmm....

 

[explod]

Picked for this months competition on it's recent chart rise with good volume.

Drill results which could be good should be out soon. We'll see lol.

 

[System]

On September 21st, 2020, Coziron Resources Limited changed its name to CZR Resources Limited.

 

[frugal.rock]

Have taken a small position on CZR for much the same reasons as plod has outlined.

on it's recent chart rise with good volume.
Drill results which could be good should be out soon. We'll see lol.

 

[frugal.rock]

Some nice nearology....or is it farology...?

CZR Resources Limited (ASX: CZR) is pleased to announce more strong assays from follow-up drilling at the
Top Camp prospect within its Croydon Gold Project in WA’s Pilbara.
Top Camp is located 90km to the south-west and along the trend of the Tabba Tabba shear zone which hosts De Grey Mining’s (ASX: DEG) Hemi gold discovery.

 

[frugal.rock]

Pre-Feasibility Study finds Robe Mesa iron ore project is technically robust with potential to generate strong financial returns.
Payback period of 19 months based on C1 cash cost of A$64.78/dmt and
benchmark iron ore price of US$90/t (~US$145/t as at 4th December)2

My pick for January comp.
Haven't followed the fundamentals lately, so not sure where it's up to, or whether a FA pop is due, however, a 3 year chart shows a trend up over the last 9 months with increased volume.
Volume levels aren't anything special, but do indicate increased attention and activity.
A recent pre feasibility study (PFS) has been completed for the Mesa Roba IRON project
The start of a Definitive Feasibility Study (DFS) is expected sometime.
Held.

 

[frugal.rock]

Are all the breakout traders licking their wounds?

 

[frugal.rock]

 

[frugal.rock]

Eeek, chart update.
Where to from here?

 

[divs4ever]

Termination of Sale of Robe Mesa Iron Ore Project to Miracle Iron

CZR Resources Ltd (ASX: CZR) (CZR) refers to its proposed sale of the Robe Mesa Iron Ore Project to Miracle Iron Resources Pty Ltd (Miracle Iron) (see ASX release dated 11 January 2024) (the Transaction).
Further to CZR's announcement on 24 January 2025, the condition precedent relating to Foreign Investment Review Board (FIRB) approval remains outstanding.
Due to the ongoing uncertainty associated with FIRB approval and the Transaction as a whole which has been delayed over 12 months since the Transaction was announced,
CZR considers that it is no longer in the best interests of shareholders to continue with the Transaction.
Accordingly, CZR has terminated the sale agreement with Miracle Iron and the Transaction will no longer proceed.

This announcement is authorised for release to the market by the Board of Directors of CZR Resources Ltd.

and more importantly

FENIX TO ACQUIRE CZR TRANSFORMATIONAL TAKEOVER CREATING A NEW WESTERN FORCE IN IRON ORE

Fenix's proven Mid-West operational excellence matched with CZR's large-scale Pilbara assets creates a significant, fully integrated WA iron ore business backed by CZR’s largest shareholder Mark Creasy1
HIGHLIGHTS
 Fenix Resources Limited (ASX:FEX) (Fenix) is pleased to announce it has entered a binding Bid Implementation Agreement with CZR Resources Limited (ASX:CZR) (CZR) pursuant to which Fenix will make an all-scrip off-market takeover offer to acquire up to 100% of the issued shares in CZR (theProposed Acquisition)
. CZR Shareholders will be entitled to receive 0.85 Fenix Shares for every CZR Share at an implied value of $0.262 per CZR Share (Base Offer Consideration), increasing to receive 0.98 Fenix Shares for every CZR Share held at an implied value of $0.303 per CZR Share (Increased Offer Consideration) if Fenix acquires a 75% relevant interest in CZR Shares on or before 7:00pm (AEDT)on 21 March 2025.
 Based on Fenix’s last closing price on 24 February 2025 of $0.305, the implied value of the Base Offer Consideration represents an attractive premium of 27% to the 10-day VWAP of CZR Shares of$0.205, 33% to the 30-day VWAP of CZR Shares of $0.195, and 32% to the 60-day VWAP of CZR Shares of $0.197.
 Should the conditions be met to achieve the Increased Offer Consideration, the implied premium increases to 46% to the 10-day VWAP of CZR Shares of $0.205, 53% to the 30-day VWAP of CZR Shares of $0.195, and 52% to the 60-day VWAP of CZR Shares of $0.197.
 CZR Directors unanimously recommend that all CZR shareholders accept Fenix’s Offer, and the CZR Directors have committed to accept, or procure the acceptance of, Fenix’s Offer in respect of all CZR shares held or controlled by them, in each case, in the absence of a superior proposal.
 CZR’s controlling shareholder Mark Creasy (together with his associates, the Creasy Group) has provided Fenix with an intention statement confirming that the Creasy Group intends to accept Fenix’s Offer, in the absence of a superior proposal.
 Fenix and CZR will host a live investor briefing on Wednesday, 26 February 2025 at 9:30am AWST /12:30pm AEDT.
Register here: https://bit.ly/3CWvG62

i hold FEX

hmmm , doesn't look like a good side-door into extra FEX for me

looks like a popcorn event .. so far

 

[galumay]

from twatter,

 

[frugal.rock]

Takeover didn't go through.
Recent sale puts their cash balance in a position higher than their market cap.
What's not to like considering their current projects prospects.

 

[Dona Ferentes]

the smart money went more than a week ago, the coat-tails money followed after.

And now there's an opportunity for good money to follow

 

[Dona Ferentes]

sailing close to the wind

Finance
• $0.2 million cash at end of June quarter
• At the end of the June quarter CZR had drawn down a total of $4.35 million in financing facilities:
o $1.5 million unsecured loan facility with an entity associated with Mark Creasy.
o $2.85 million of a total $3.85 million secured loan facility with Robe River Mining Co Pty Ltd as part of the RRJV Transaction to provide working capital for the Company. Subsequent to quarter end a further $0.5 million was drawn down.
• Following termination of the Fenix Resources Limited’s Bid Implementation Agreement on 17 April, CZR was required to repay the $1.9 million loaned by Fenix Resources to CZR. CZR repaid the Fenix Resources Loan Facility in full on 08 May 2025
• During the quarter CZR received a $0.65 million exclusivity fee from the RRJV and paid a break fee of $0.65 million to Fenix Resources as a result of the termination of the Fenix Resources Limited’s Bid Implementation Agreement.

and now they have disrobed,


Croydon Gold
• Site works were completed at the Croydon Gold Project, located along strike to the 11.2 Moz Hemi gold deposit, with 30km of access tracks and drill pads constructed
• An initial drill program is planned to include ~180 aircore holes to test a 6km-long gravity anomaly that has not previously been drill tested and ~20 RC drill holes to test for Hemi-style intrusions and test extensions to current shallow high-grade gold mineralisation, subject to completion of the sale of CZR’s Robe Mesa project

Edamurta Copper-Zinc
• A Moving Loop EM survey completed at Edamurta identified highly conductive, late-time conductors which can indicate the presence of massive sulphide mineralisation
• These results provide strong evidence of the potential for a repeat of the nearby world-class Golden Grove volcanogenic massive sulphide copper-gold-zinc-silver deposit
• A 3,000m Reverse Circulatio drilling program has been planned to test the high conductance plates during the September quarter, subject to completion of the sale of CZR’s Robe Mesa project

 

[Miner]

Is there any relationship between KZR and CZR ??
Why Creasy sold his large chunk if he believe on this?
DNH