Fenix Resources Limited, an Australian company engaged in the exploration, development, and mining of mineral rights, has signed a binding bid implementation agreement with CZR Resources Limited to acquire up to 100% of the shares in CZR.

Fenix's acquisition of CZR and its Robe Mesa Iron Ore project will boost shareholder value with Fenix's mine-to-port business model. Fenix will invest over A$56.1 million in cash and ongoing cash flows from its Mid West operations to develop the Robe Mesa project and advance it into production, maximizing value through its leading port, logistics, and mining capabilities.