On 25 February 2025, Fenix Resources Ltd (ASX: FEX) announced it will acquire CZR Resources Ltd (ASX: CZR) under an all-scrip off-market takeover offer which has been unanimously recommended by CZR Directors and is supported by CZR’s largest shareholder Mr Mark Creasy. 

On this investor webinar, Dannika Warburton from Investability hosts John Welborn, Executive Chairman of Fenix, and Stefan Murphy, Managing Director of CZR, to discuss the offer and answer investor questions. Fenix is offering scrip at a base price of $0.26 for every CZR share with CZR shareholders eligible to receive Fenix scrip at an increased offer price of $0.30 if Fenix acquires a 75% interest in CZR prior 21 March 2025. At the increase price of $0.30 the takeover values CZR at $71 million.

The takeover will bring together Fenix's proven mine-to-port model and operational excellence with CZR's substantial Pilbara assets. These assets host 98.4 million tonnes of iron ore mineral resources including the Robe Mesa Iron Ore Project, a low strip ratio, low capex Direct Shipping Ore project for which CZR’s October 2023 Definitive Feasibility Study outlined a net present value of $256 million. The transaction will result in Mr Creasy, one of Australia’s most successful prospectors and mining company investors, emerging as a substantial shareholder in Fenix with a holding of approximately 12%.

Please view the announcements (dated 25 February 2025), and associated disclosures, at: https://fenix.com.au/investors/asx-announcements/ https://www.czrresources.com/investors/

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