Calidus Resources (ASX: CAI)

Commencing on Monday, 5 August 2024, the Receivers and Managers will be seeking
urgent expressions of interest for the acquisition and/or recapitalisation of Calidus
Resources Limited.

 

 

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Calidus Resources Update from the Receivers and Managers and Addendum to June 2024 Quarterly

 

Please see below an update from the Receivers and Managers and addendum to the June 2024 Quarterly lodged on the ASX on 30 July 2024.

 

Sale / recapitalisation process

• Commencing on Monday, 5 August 2024, the Receivers and Managers will be seeking
urgent expressions of interest for the acquisition and/or recapitalisation of Calidus
Resources Limited.
• The opportunity includes the acquisition of some or all of the project assets, including
the Warrawoona project, the Nullagine project and a number of other satellite
deposits with significant upside potential.
• To be part of the sale process, interested parties should please contact the Receivers
and Managers to lodge their expression of interest.
Update on operations
• After a successful trial over a five-day period of the low grade ore on the ROM (which
resulted in an average grade of c. 0.43g/t and an average recovery of c. 94.0% through
the mill), the Receivers and Managers have commenced the processing of the c. 1.3MT
of low-grade ROM stock. This process is expected to be completed by the end of the
calendar year and generate positive cash flows.
• In addition, the Receivers and Managers are evaluating a decision to mine and process additional ore from Blue Bar.
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Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

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Disclosure

At the time of writing the author holds shares in Calidus Resources.

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